This Day On The Street
Continue to site
ADVERTISEMENT
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

MBIA, L-1 Identity: Volume Movers

NEW YORK ( TheStreet) -- MBIA (MBI - Get Report) was one of several stocks trading near $5 poised to move on above-average volume Tuesday after a mutual fund disclosed a large stake in the bond insurer.

MBIA shares rose after Fairholme Capital Management, a mutual fund headed by Bruce Berkowitz, disclosed in a regulatory filing late Monday that it owns more than 22.73 million shares of the bond insurer, or 11.1% of MBIA's outstanding stock.

Shares of MBIA jumped by 35 cents, or 5.4%, to $6.78 in the premarket session. The three-month average daily volume for MBIA is 9.91 million, according to Yahoo! Finance.

Fellow bond insurer Ambac Financial (ABK), which received a delisting warning from the New York Stock Exchange last week, was up 7.3% to 70 cents in Tuesday's premarket session.

Elsewhere, L-1 Identity Solutions (ID) slumped by 43 cents, or 5.7%, to $7.08 in Monday's late trading session after the personal identity technology company lowered its second-quarter revenue guidance to a range of $162 million to $167 million, below the Thomson Reuters average estimate for revenue of $180 million.

L-1 Identity Solutions said it will report second-quarter results on July 28, and it will also update investors on its plans to sell the company. The three-month average daily volume for L-1 Identity is 748,000.

Shares of National Bank of Greece (NBG - Get Report) climbed by 8 cents, or 3.3%, to $2.54 in Tuesday's premarket session on a report that Greece, which continues to struggle with its debt load, raised roughly $2 billion in a bond auction. The three-month average daily volume for National Bank of Greece is 10.54 million.

In addition, Threshold Pharmaceuticals (THLD - Get Report) jumped by 8 cents, or 7.9%, to $1.09 in the premarket session after the company announced two preclinical presentations on its clinical stage hypoxia-activated prodrug, TH-302, which selectively targets pancreatic cancer cells. The company said all combination therapy treatment groups (TH-302 plus sunitinib or sorafenib) "exhibited superior efficacy compared to the corresponding monotherapy groups."

Additionally, Threshold Pharmaceuticals said a separate presentation supports the hypothesis that TH-302 and gemcitabine "work in a complementary manner by targeting two distinct tumor compartments.". The 50-day average daily volume for Threshold is 50,000, according to the Nasdaq.

-- 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 TheStreet.com on Facebook.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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
SYM TRADE IT LAST %CHG
MBI $8.51 -1.62%
NBG $1.40 9.38%
THLD $3.62 2.84%
AAPL $125.01 -0.63%
FB $78.10 0.70%

Markets

DOW 17,841.98 -86.22 -0.48%
S&P 500 2,080.15 -9.31 -0.45%
NASDAQ 4,919.6440 -19.6830 -0.40%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs