NEW YORK (
(MBI) 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
(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.
L-1 Identity Solutions
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.
National Bank of Greece
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.
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
-- Written by Robert Holmes in Boston
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