Central Jersey Bancorp, GTx: Early Volume Plays
NEW YORK (TheStreet) -- Central Jersey Bancorp (CJBK) was among several stocks trading near $5 poised to move on above-average volume Wednesday as the stock more than doubled in price on a merger agreement.
Central Jersey Bancorp shares surged after Kearny Financial (KRNY) said it would acquire the bank in a $72.3 million all-cash deal. Shareholder of Central Jersey Bancorp will receive $7.50 per share, a 143% premium to Tuesday's closing price of $3.08.
Central Jersey Bancorp shares rallied by $4.06, or 131.8%, to $7.14 in the premarket session. The 50-day average daily volume for Central Jersey Bancorp is 18,000, according to the Nasdaq.
On the other hand, GTx (GTXI) shares plunged by $1.02, or 33.8%, to $2 in the premarket session after the company's experimental prostate cancer drug, toremifene 20 mg, failed to show statistical significance in preventing cancer in high-risk patients in a late-stage trial when compared to a placebo.GTx said it will pursue it partnership with Ipsen to develop toremifene 80 mg and are planning a second Phase III clinical trial evaluating toremifene 80 mg to reduce fractures and treat other estrogen deficiency side effects of androgen deprivation therapy for prostate cance. The 50-day average daily volume for GTx is 189,000. Elsewhere, Zale (ZLC) rose by 7 cents, or 2.6%, to $2.75 in the premarket session after the jewelry retailer reported a fiscal third-quarter adjusted loss of 76 cents a share on sales of $360 million, compared to estimates Zale would report a loss of 95 cents a share on revenue of $354.1 million. Zale earlier this month secured a $150 million lifeline from private-equity firm Golden Gate Capital, as well as a new $650 million credit line shore up its cash position. The three-month average daily volume for Zale is 2.25 million, according to Yahoo! Finance. Solarfun Power Holdings (SOLF) jumped by 68 cents, or 10.9%, to $6.95 in the premarket session after the company posted a first-quarter profit of 40 cents a share on revenue of $216.2 million, above the consensus target for a profit of 19 cents a share on revenue of $191.7 million. The 50-day average daily volume for Solarfun is 1.78 million.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV