NEW YORK (

TheStreet

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

JA Solar Holdings

(JASO)

gained 24 cents, or 4.5%, to $5.54 in the premarket session, adding onto the previous session's 16% rally, after the company late Monday said it expects fourth-quarter shipments to exceed the high-end of its prior guidance given last month. JA Solar raised its guidance for 2009 to at least 210 megawatts of solar cells, up from its previous range 170MW to 200MW. It also issued shipment guidance for the 2010 of 750MW to 800MW. The company also announced a $75 million share repurchase program. The 50-day average daily volume for JA Solar is 5.3 million shares, according to the

Nasdaq

.

Array BioPharma

(ARRY) - Get Report

surged by 63 cents, or 28%, to $2.88 in the premarket session after the company late Monday announced an agreement with

Amgen

(AMGN) - Get Report

that grants the latter exclusive worldwide rights to Array's small-molecule glucokinase activator program, including ARRY-403, currently being tested in a Phase 1 clinical trial in patients with Type 2 diabetes. Array will receive an upfront payment of $60 million and additional contingent payments for certain clinical and commercial milestones. In a research note Tuesday, Rodman and Renshaw analysts said that current price levels do not capture the value in the company's pipeline, and that Array is an undervalued stock and remains one of their top picks. The 50-day average daily volume for Array is 282,000.

Alexza Pharmaceuticals

TST Recommends

(ALXA)

jumped by 36 cents, or 15.7%, to $2.65 in the premarket session after the company late Monday said it has submitted its New Drug Application for Staccato loxapine (AZ-004) to the Food and Drug Administration. The drug is an inhalation product candidate being developed for the rapid treatment of agitation in patients with schizophrenia or bipolar disorder. The 50-day average daily volume for Alexza is 91,000.

Qwest

(Q)

rose by 18 cents, or 4.4%, to $4.26 in the premarket session after UBS upgraded the stock to buy from neutral. The three-month average daily volume for Qwest is 25.8 million shares, according to Yahoo! Finance.

Conseco

(CNO) - Get Report

fell by 20 cents, or 4.1%, to $4.74 in the premarket session after the company filed for a 45 million share common stock offering. The three-month average daily volume for Conseco is 6.9 million.

-- Written by Robert Holmes in Boston

.

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