Earnings Watch: Stocks Under $5

BOSTON (TheStreet) -- Earnings season for S&P 500 companies is winding down. But for stocks under $5, the parade has just started.

For investors searching for inexpensive stocks ahead of earnings reports this week, sifting through the calendar is a daunting task. According to Bloomberg, more than 400 companies listed on the Nasdaq and New York Stock Exchange whose shares trade at less than $5 will report financial numbers today through Friday.

TheStreet narrowed the list of companies investors should watch to five, ranked by the average trading volume over the past 30 days.

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5. GLG Partners(GLG) won't be a public company for much longer after Man Group in May said it will acquire the asset-management company with cash and shares. Man will acquire the outstanding common stock of GLG not subject to the share exchange for $4.50 per share.

Share Price: $4.41 (Aug. 6 close)

Earnings Reporting Date: Aug. 9 (confirmed)

2010 Performance: 37%

Market Value: $1.11 billion

Analysts' View: GLG Partners may report a profit of 5 cents a share and revenue of $112.4 million, according to a poll of analysts by Thomson Reuters. However, those estimates have been revised sharply lower over the past month, with the earnings-per-share figure sliding by more than 40%. Since the merger with Man Group was announced on May 17, two firms (Barclays Capital and Keefe, Bruyette & Woods) have maintained a "hold" rating and a price target of $4.50.