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Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Infinera, Compuware: Volume Movers

BOSTON (TheStreet) -- Infinera (INFN) was one of several stocks trading near $5 poised to move on above-average volume Friday after the optical networking systems company surprised analysts with a second-quarter.

Infinera said late Thursday it had a second-quarter adjusted profit of 3 cents a share on revenue of $111.4 million, compared to the Thomson Reuters average estimate for a loss of 5 cents a share on revenue of $99.5 million

Shares of Infinera jumped by 49 cents, or 7%, to $7.48 in Thursday's late trading session. The average daily share volume for Infinera is 856,000.

Elsewhere, Alliance Fiber Optic Products (AFOP) climbed by 7 cents, or 4.5%, to $1.62 in Thursday's after-market session after the company said it had second-quarter earnings of 4 cents a share on $12.1 million, compared to a single analyst's estimate for earnings of 2 cents a share on revenue of $10 million. The average daily share volume for Alliance Fiber Optic is 69,000.

On the downside, Compuware (CPWR) shares dropped by $1.04, or 12.2%, to $7.51 late Thursday after the software company said it had first-quarter revenue of $206.5 million, below the consensus target of $219.2 million. Compuware said it had a second-quarter profit of 6 cents a share, matching Wall Street's forecast. The average daily share volume for Compuware is 2.5 million.

Synovus Financial (SNV) fell by 13 cents, or 5.4%, to $2.29 in the premarket session after the company reported a second-quarter loss of 36 cents a share, compared to the Thomson Reuters estimate for a loss of only 6 cents a share.

FBR Capital Markets analyst Paul Miller reiterated his "market perform" rating on Synovus shares but lowered his price target to $2.50 from $3, noting that "credit trends were mixed and Synovus delayed expectations of profitability due to macroeconomic factors." The average daily share volume for Synovus is 17.1 million.

Lattice Semiconductor (LSCC) shares gave back 9 cents, or 1.6%, to $5.49 late Thursday even after the chipmaker said it had a profit of 14 cents a share on revenue of $77.1 million, which exceeded the Street's consensus target for a profit of 12 cents a share on revenue of $76.1 million.

In addition, Lattice said it expects third-quarter revenue growth of up to 5%, which would top the Thomson Reuters average estimate for third-quarter revenue of $75.2 million. The average daily share volume for Lattice is 2.21 million.

-- Written by Robert Holmes in Boston.

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

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