BOSTON ( TheStreet) -- Westell Technologies (WSTL) was one of several stocks trading near $5 poised to move on above-average volume Thursday after the company reported fiscal first-quarter results that topped an analyst's view.
Westell Technologies said it had a fiscal first-quarter profit of 7 cents a share, more than doubling the lone analyst target for a profit of 3 cents a share. Revenue of $41.3 million fell from a year ago and was below the single analyst estimate of $47.1 million, although it was up from $37.8 million in the prior quarter. Also on the positive side, gross margin rose to 37.8% from 28.4% in the year-ago period.
Shares of Westell Technologies jumped by 26 cents, or 15.7%, to $1.82 in Wednesday's late trading session. The average daily share volume for Westell is 149,000.
Elsewhere, Somaxon Pharmaceuticals (SOMX) rose by 15 cents, or 4.4%, to $3.59 in Wednesday's after-hours session after the company said that detailed results from two Phase 3 clinical trials of the company's sleep drug Silenor have been accepted for publication in peer-reviewed scientific journals. The average daily share volume for Somaxon is 2.5 million.Also among Thursday's early winners, Banner (BANR) climbed by 6 cents, or 3%, to $2.06 in the premarket session after the bank holding company late Wednesday posted a second-quarter loss of 28 cents a share, which narrowed from a year-ago loss of $1.04 a share. Banner said it recorded a $16 million provision for loan losses in the second quarter, down sharply from $45 million in the year-ago quarter but up slightly from $14 million in the preceding quarter. The average daily share volume for Banner is 3.02 million. On the downside, Uroplasty (UPI) slumped by 28 cents, or 7.4%, to $3.50 in the premarket session after the medical device company announced a public offering of common stock. The average daily share volume for Uroplasty is 199,000. Cascade Financial (CASB) fell by 6 cents, or 11.8%, to 45 cents in Wednesday's after-market session after the company posted a second-quarter loss of $2.02 a share, which includes accruals for preferred stock dividends and accretion of the issuance discount on preferred stock issued to the Treasury Department. The average daily share volume for Cascade is 141,000. Mela Sciences (MELA) dropped by 66 cents, or 10.2%, to $5.81 in Wednesday's late trading session after the Food and Drug Administration delayed a panel meeting to review the MelaFind skin cancer screening device from Aug. 26 to November 2010. The average daily share volume for Mela Sciences is 571,000. -- Written by Robert Holmes in Boston. Check out all of Thursday'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.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $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
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV