NEW YORK (
) -- A number of stocks trading below $10 were poised to move on above-average volume during Thursday's trading session.
tanked 63.6% to $7.10 in pre-market trading after the company was unable to secure approval on a drug treatment for restless legs syndrome from the U.S. Food and Drug Administration. The FDA raised concerns about the drug's possible link to tumors found in rats.
The 50-day average daily volume for XenoPort is about 304,600 according to NASDAQ.
is about 0.9% lower at $12.90 in pre-market trading after excitement over the company's raised guidance cooled. Applied Materialsreported first quarter non-GAAP net income of $179 million or 13 cents a share, in line with the consensus, and expects net sales to grow by more than 50% for 2010. This is an increase from Applied Materials' previous outlook of greater than 30%.
Applied Materials completed the acquisition of Semitool during the quarter, which is expected to open new growth opportunities in the semiconductor equipment market. The 50-day average daily volume for Applied Materials is about 22.7 million according to NASDAQ.
has tanked 14.8% to $2.64 in pre-market trading. The 50-day average daily volume for DepoMed is about 274,100 according to NASDAQ.
-- Reported by Andrea Tse in New York
Check out all of Tuesday's high-volume, under-$10 stocks at the
Follow TheStreet.com on
and become a fan on
Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.