Early Movers: Pump Up the Volume
NEW YORK (
) -- Several small-cap stocks were poised to move on above-average volume during Tuesday's session
China Information Security Technology
( CPBY) surged by 63 cents, or 9.5%, to $7.30 in the premarket session after newly signed contracts in the third quarter were valued at approximately $30.05 million, an increase of over 14% from the second quarter. The three-month average daily volume for China Information Security Tech is 363,000, according to Yahoo! Finance.
DryShips
(DRYS) - Get DryShips Inc. Report
jumped by 31 cents, or 4.6%, to $7.08 in the premarket session after the stock was upgraded to a buy rating from hold at Lazard. The three-month average daily volume for Dryships is 23.1 million, according to Yahoo! Finance.
CIT Group
(CIT) - Get CIT Group Inc. Report
tumbled by 18 cents, or 17.3%, to 86 cents in the premarket session after Chairman and CEO
announced his plans to resign from both positions at the end of the year. Earlier,
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Reuters
reported that bondholders have given a tepid response to a debt exchange offer aimed at repairing the struggling commercial lender's balance sheet. The three-month average daily volume for CIT is 111 million, according to Yahoo! Finance.
Dyax
(DYAX)
climbed 34 cents, or 10.1%, to $3.72 in the premarket session after
Sanofi-Aventis
(SNY) - Get Sanofi Report
said it would acquire Dyax's ophthalmic partner, Fovea Pharmaceuticals. Separately, Sanofi-Aventis said it will also license a Phase 1 drug candidate from Merrimack Pharmaceuticals, a Dyax licensee. The three-month average daily volume for Dyax is 292,000, according to Yahoo! Finance.
Pacific Sunwear
(PSUN)
rose by 48 cents, or 7.8%, to $6.62 in the premarket session after FBR Capital Market analysts upgraded the apparel retailer to outperform. The three-month average daily volume for is 821,000, according to Yahoo! Finance.
-- Written by Robert Holmes in New York
.
