Cirrus Logic, Zareba Systems: Early Volume Plays

Several stocks trading near $5 were poised to move on above-average volume during Tuesday's session.
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NEW YORK (

TheStreet

) -- Several stocks trading near $5 were poised to move on above-average volume during Tuesday's session.

Cirrus Logic

(CRUS) - Get Report

gained 79 cents, or 11.9%, to $7.41 in the premarket session after the company raised its third-quarter revenue guidance to $65 million from the previous range of $58 million to $62 million, above the Thomson Reuters consensus of $60.8 million. Cirrus cited stronger than anticipated demand for its audio products, as well as modest improvement in demand for energy products. For the fourth quarter, Cirrus said it expects revenue of $53 million, above the Thomson Reuters average estimate of $49 million. Following the guidance change, Needham analysts upgraded the stock to a strong buy. The 50-day average daily volume for Cirrus Logic is 610,000, according to the

Nasdaq

.

Zareba Systems

(ZRBA)

rallied by $4.10, or 90.9%, to $8.61 in the premarket session after the electronic perimeter fence company announced a merger agreement with

Woodstream Corp.

where Zareba shareholders will receive $9 in cash for each share. The 50-day average daily volume for is 4,100 shares.

Valence Technology

(VLNC)

jumped by 21 cents, or 22.8%, to $1.13 in the premarket session after the company announced a $3.1 million purchase order from the

Tanfield Group

to deliver advanced battery modules. The 50-day average daily volume for Valence Technology is 1.09 million.

Stereotaxis

(STXS) - Get Report

gained 37 cents, or 9.1%, to $4.44 in the premarket session after the the Food and Drug Administration cleared approval of an additional magnetic irrigated catheter to treat irregular heartbeats. The 50-day average daily volume for Stereotaxis is 259,000 shares.

Vical

(VICL)

was up 14 cents, or 4%, to $3.61 in the premarket session after the company's licensee AnGes MG reached an agreement with FDA for a Phase 3 Trial of its Collategene angiogenesis product. The 50-day average daily volume for Vical is 805,000.

(

Earlier at 7:37 a.m. EST

.)

SciClone Pharmaceuticals

(SCLN)

rose 8.3% to $3 in the premarket session after the company and partner Sigma-Tau announced positive preliminary results in a clinical study examining Zadaxin to enhance immune response to the H1N1 vaccine. According to investigators, Zadaxin treatment given with the H1N1 vaccine led to a "highly statistically significant increase" in the percentage of subjects who seroconverted at 21 days after vaccination, when compared to those who received the H1N1 vaccine alone. The 50-day average daily volume for SciClone is 320,000, according to Yahoo! Finance.

YRC Worldwide

(YRCW) - Get Report

shares were set to open higher after Standard & Poor's Ratings Services raised its corporate credit rating on the trucking company to CCC- from SD (selective default). Credit analyst Anita Ogbara also raised the senior unsecured issue-level ratings to CC from D on YRC's remaining notes that were subject to its exchange offer, as well as a 6 recovery rating, indicating negligible (zero to 10%) recovery of principal in a payment default scenario. Ogbara said that YRC'w liquidity position remains constrained, due to a $45 million maturity on April 15. The 50-day average daily volume for YRC Worldwide is 13 million shares.

Hersha Hospitality Trust

(HT) - Get Report

shares were indicated to open 11% lower after the company announced a public offering of 35 million common shares. The three-month average daily volume for Hersha Hospitality is 333,000, according to Yahoo! Finance.

Netlist

(NLST)

was also set to start Tuesday's session lower after the company filed for a $30 million mixed securities shelf offering. The 50-day average daily volume for is 4.79 million.

KKR Financial

(KFN)

should open lower after the company said it expects to record charges in the fourth quarter to total as much as $80 million due to declining value of its residential mortgage-backed securities portfolio and some corporate loans. As a result, KKR Financial said its fourth-quarter results could range from a loss of 5 cents a share to a profit of a penny a share, compared with the Thomson Reuters average estimate for a profit of 27 cents a share. The three-month average daily volume for KKR Financial is 1.69 million shares.

-- Written by Robert Holmes in Boston

.

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