BOSTON (TheStreet) -- Himax Technologies (HIMX) - Get Report was one of several stocks trading below $5 and moving on above-average volume Tuesday after the flat panel display component maker offered weak earnings guidance for the third quarter.
said it expects third-quarter earnings in a range of 4 cents to 6 cents a share, compared to the two-analyst consensus estimate for earnings of 7 cents a share. Himax expects third-quarter revenue to fall by 13% to 18%.
The disappointing guidance came as Himax posted a second-quarter profit of 8 cents a share and revenue of $187.7 million, compared to the consensus for earnings of 6 cents a share and sales of $188 million.
Shares of Himax dropped by 25 cents, or 9%, to $2.53. Volume topped 833,000 shares, compared to the average daily share volume of 244,000.
shares continued to rally, jumping nearly 60% to $3.28 Tuesday.
RMX Holdings has surged more than 90% over the last two sessions after the company declared a special cash dividend of $1.32 per share of common stock payable on Aug. 23 to shareholders of record on Aug. 16.
The company, formerly known as Ready Mix, provided ready-mix concrete products to the construction industry but has no active business operations after selling substantially all of its assets earlier this year. Volume topped 428,000 shares, compared to the average daily share volume of 13,000.
climbed by 28 cents, or 9.6%, to $3.20 after the cable TV electronics company posted second-quarter earnings of 14 cents a share, more than doubling year-ago earnings of 6 cents a share. Revenue jumped 45% from a year earlier to $13.3 million. Volume topped 38,000 shares, compared to the average daily share volume of 8,000.
HQ Sustainable Maritime
plunged by $1.05, or 24.7%, to $3.20 after the Chinese aquatic product producer priced a follow-on offering of approximately 3.2 million units at $3.6125 per unit.
HQ Sustainable said each unit consists of one common shres and 0.5 of a warrant, which carries an exercise price of $4.5156 per share. Volume topped 1.72 million shares, compared to the average daily share volume of 99,000.
-- Written by Robert Holmes in Boston
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