BOSTON ( TheStreet) -- Westell Technologies (WSTL - Get Report) 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.
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.
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,
(BANR - Get Report)
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,
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.
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 - Get Report)
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
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