This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Mediacom, Jones Soda: Midday Volume Plays

NEW YORK ( TheStreet) -- Mediacom Communications (MCCC) was one of several stocks trading near $5 moving on above-average volume Tuesday after the company said it has received a bid to be taken private.

Mediacom Communications said it has received a nonbinding proposal from Chairman and CEO Rocco Commisso to take the company private at $6 per share in an all-cash deal, representing a 12.6% premium to Friday's closing price.

Alliance Bernstein analyst Craig Moffett writes in a research note that still low equity valuations have "made privatization a very attractive course" for public cable operators. "A combination of low capital intensity, and therefore high free cash flow, and access to very low rates in the debt markets has translated into a limited need for access to public equity markets for U.S. cable operators," he writes.

Mediacom shares jumped by 79 cents, or 14.8%, to $6.12. Volume topped 233,000 shares in the first 30 minutes of trading, compared to the 50-day average daily volume of 412,000, according to the Nasdaq.

Jones Soda (JSDA) continued to rally, rising 13 cents, or 12.3%, to $1.17. On Thursday, Jones Soda announced a retail deal with Wal-Mart (WMT). Volume topped 279,000 shares, compared to the 50-day average daily volume of 658,000.

Elsewhere, Arrowhead Research (ARWR - Get Report) shares climbed by 9 cents, or 7%, to $1.44 after the company said it will present interim data from the phase 1 clinical trial of its subsidiary's cancer drug candidate CALAA-01 at the 2010 American Society of Clinical Oncology (ASCO) meeting on June 6. Volume topped 88,000 shares, compared to the 50-day average daily volume of 1.65 million.

On the downside, Marshall Edwards (MSHL) shares plunged by $1.58, or 39.5%, to $2.42 after the company said its cancer drug phenoxodiol failed a late-stage study. Results showed the drug did not significantly improve progression-free survival or overall survival in women with recurrent ovarian cancer, the company said. Volume topped 19,000 shares, compared to the 50-day average daily volume of 4,000.

-- Written by Robert Holmes in Boston.

Check out all of Tuesday's high-volume, under-$5 stocks at the Dollar Store. View the Dollar Store portfolio on StockPickr.

Follow Robert Holmes on Twitter and become a fan of on Facebook.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
JSDA $0.41 1.23%
ARWR $5.79 4.14%
AAPL $118.88 0.96%
FB $105.74 -1.13%
GOOG $748.28 -1.02%


Chart of I:DJI
DOW 17,812.19 +19.51 0.11%
S&P 500 2,089.14 +2.55 0.12%
NASDAQ 5,102.8080 +0.33 0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs