This Day On The Street
Continue to site
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

Immersion, La-Z-Boy: Volume Movers

BOSTON ( TheStreet) -- Immersion (IMMR - Get Report) was one of several stocks trading below $10 poised to move on above-average volume Friday after the haptic technologies company reported quarterly financial results.

Immersion shares were on the rise after the company reported a second-quarter profit of a penny a share on revenue of $8.5 million, surprising analysts who had forecasted a loss of 7 cents a share and revenue of $6.5 million.

Shares of Immersion jumped by 45 cents, or 8%, to $6.05 in Thursday's after-hours session. The average daily share volume for Immersion is 103,000.

Elsewhere, La-Z-Boy (LZB - Get Report) shares dropped by 94 cents, or 11%, to $7.58 in Thursday's late trading session after the furniture company's CEO Kurt Darrow said he expects relatively flat to slightly increased sales for the first quarter of fiscal 2011 and earnings per share in a break-even range. Analysts were expecting the company to report earnings of 11 cents a share, according to a Thomson Reuters poll of analysts.

Darrow blamed the weak guidance for the first quarter on a number of factors, including higher raw material costs, supply chain disruptions and delays, the impact on shipping from Mexico by Hurricane Alex. "We were required to move approximately $10 million of orders from production in July into August," Darrow said in a statement. The average daily share volume for La-Z-Boy is 959,000.

Alphatec Holdings (ATEC - Get Report) shares fell by 38 cents, or 8.6%, to $4.04 in the premarket session after the medical technology company said it broke even in the second quarter on a per-share basis, coming in a penny below the average analyst estimate. Second-quarter revenue of $45.4 million was below the consensus of $53.1 million.

Following the earnings announcement, analysts at both RBC Capital and Canaccord Genuity downgraded Alphatec. The average daily share volume for Alphatec is 361,000. (LOCM) continued to face pressure after Web site posted a bearish article criticizing's CFO Brenda Agius and her "acquisition-fueled growth strategy." In addition, the article notes the number of corporate insiders selling stock, including CEO Heath Clarke.

In response, said Thursday that its board of directors has authorized a stock repurchase program of up to $2 million of its outstanding common stock. "We believe that the recent speculation surrounding the company is without merit and fails to reflect our fundamental operational and financial performance over the past six quarters," Clarke said in a statement.

Still, shares have dropped by 24% over the last three trading sessions, and the stock was down another 6.7% to $4.44 in the premarket session. The average daily share volume for is 408,000.

Energy Recovery (ERII - Get Report) shares slumped by 22 cents, or 5.4%, to $3.89 in Thursday's after-market session after the high-efficiency energy recovery devices maker said it broke even in the second quarter on an adjusted basis, matching analysts' estimates.

Looking ahead, Energy Recovery said it expects to see full-year earnings fall in a range of break even to 3 cents a share on revenue of $52 million to $58 million. Analysts expect full-year earnings of 3 cents a share on revenue of $58.2 million. The average daily share volume for Energy Recovery is 464,000.

-- Written by Robert Holmes in Boston.

Check out all of the week'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 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
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
ATEC $0.23 2.10%
ERII $7.03 -1.68%
IMMR $13.46 0.75%
LZB $26.94 0.56%
LOCM $0.05 -3.85%


Chart of I:DJI
DOW 17,812.19 +19.51 0.11%
S&P 500 2,089.14 +2.55 0.12%
NASDAQ 5,102.8080 +0.33 0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs