NEW YORK (
) -- Several stocks trading near $5 were poised to move on above-average volume during Tuesday's session.
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
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
where Zareba shareholders will receive $9 in cash for each share. The 50-day average daily volume for is 4,100 shares.
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
to deliver advanced battery modules. The 50-day average daily volume for Valence Technology is 1.09 million.
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.
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
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.
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
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.
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.
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
Check out all of Tuesday's high-volume, under-$5 stocks at the Dollar Store
Follow Robert Holmes on
and become a fan of TheStreet.com on