NEW YORK (
was among several stocks trading near $5 poised to move on above-average volume Thursday after the company priced a secondary offering at a discount to its closing price Wednesday.
Resource Capital said it has priced a public offering of 7.5 million shares of its common stock at $5.25 per share. Underwriters were granted a 30-day option to purchase up to an additional 1.12 million shares of common stock to cover overallotments, if any.
shares dropped by 53 cents, or 9.4%, to $5.14 in the premarket session. The three-month average daily volume for Resource Capital is 740,000, according to Yahoo! Finance.
Resource Capital Stock Falls Hard on Offering
Bank of Ireland
dropped by $1.30, or 18.7%, to $5.66 in the premarket session after the bank's shareholders approved a €3.5 billion capital-raising program. The three-month average daily volume for Bank of Ireland is 1.97 million.
On the other hand,
China Techfaith Wireless
jumped by 35 cents, or 15.5%, to $2.61 in the premarket session after the company reported first-quarter net income of $6.9 million on revenue of $60.9 million, up from year-ago net income of $2.1 million and revenue of $48.7 million.
Looking ahead, China Techfaith said it expects second-quarter revenue of $62 million to $65 million. The 50-day average daily volume for China Techfaith is 153,000, according to the
rose by 14 cents, or 3.7%, to $3.88 in the premarket session after the company said it has amended loan agreements with Wells Fargo Capital Finance Corporation and Export Development Canada to refinance its short- and long-term debt. The 50-day average daily volume for SMTC is 421,000.
-- Written by Robert Holmes in Boston
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