NEW YORK (
) -- Several stocks trading near $5 were poised to move on above-average volume during Monday's session.
once again traded higher on speculation the handset maker is an acquisition target.
cited a Chinese Web site as the source of the latest rumor, which says that
could acquire Palm. Earlier this week, Palm shares surged after renewed market chatter of a buyout by PC maker
. Palm shares were up 44 cents, or 9.5%, to $5.09 in Friday's premarket session. The 50-day average daily volume for Palm is 24.56 million, according to the
dropped by 35 cents, or 10.1%, to $3.10 in the premarket session after the company posted a first-quarter profit of a penny a share on revenue of $23.2 million, which was up more than 40% from the year-ago quarter. While the revenue result was well above the lone analyst target of $18.4 million, traders were disappointed that Joe's Jeans matched with its earnings-per-share figure. On Thursday, Joe's Jeans shares reached a new 52-week high of $3.60. The 50-day average daily volume for Joe's Jeans is 1.63 million.
shares may lose ground Friday after the medical products company, formerly known as Langer, noted unusual trading activity in the company's shares, saying it was not aware of any reason for increase volume. On Wednesday, roughly 8.2 million shares of PC Group changed hands, which is well above the average daily share volume of 11,600 for 2010. On that day, PC Group shares opened at 57 cents, rose as high as 62 cents and then plummeted to 13 cents. The stock rebounded quickly to 50 cents at the end of Wednesday's session, and then rallied 46.6% Thursday to 72 cents. "This unusual trading activity has been referred for investigation to appropriate regulatory agencies," the company said in a statement.
surged by 38 cents, or 59%, to $1.02 in the premarket session after the bond insurer reported fourth-quarter net income of $558.1 million, or $1.93 a share, which swung from a year-ago loss of $2.34 billion, or $8.14 a share. Results included a $472 million tax benefit, Ambac said. The three-month average daily volume for Ambac is 11.37 million, according to Yahoo! Finance.
-- Written by Robert Holmes in Boston
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