NEW YORK (

TheStreet

) --

Palm

( PALM) will be acquired by

Hewlett-Packard

(HPQ) - Get Report

in a $1.2 billion deal, making Palm one of several stocks poised to move on above-average volume during Thursday's session.

Palm will be purchased by H-P

for $5.70 per share a 23% premium over Palm's closing price of $4.63 Wednesday. "We're thrilled by HP's vote of confidence in Palm's technological leadership," Palm CEO Jon Rubenstein said in the press release.

Palm shares were rallying 26.1% to $5.84 before the start of trading Thursday. The 50-day average daily volume for Palm is 33.25 million, according to the

Nasdaq

.

AXT

(AXT)

should be another of Thursday's volume winners after the semiconductor substrate company posted a first-quarter profit of 8 cents a share, doubling the Thomson Reuters average estimate of 4 cents a share. Revenue surged 141.6% to $18.6 million, also above consensus.

In Wednesday's after-market session, AXT shares jumped 10% to $4.50. The 50-day average daily volume for AXT is 191,000.

Cardiac Science Corp.

(CSCX)

was poised to trade higher after the company commented on a recall communication for automated external defibrillators by the Food and Drug Administration, noting that its new units are not affected and that the recall has not been expanded.

Cardiac Science's remarks came a it posted a first-quarter loss of 36 cents, matching analysts' estimates. Shares rose more than 7% in late trading Wednesday to $1.67. The 50-day average daily volume for Cardiac Science is 202,000.

On the other hand,

Openwave Systems

( OPWV) dropped by 42 cents, or 15.4%, to $2.30 in the premarket session after the software solutions company posted a third-quarter adjusted loss of 2 cents a share, surprising analysts who had expected a profit of a penny a share. Revenue of $40.1 million was also below consensus. The 50-day average daily volume for Openwave Systems is 559,000.

-- Written by Robert Holmes in Boston

.

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