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Palm, TriQuint: Early Volume Plays

Several stocks trading under $10 were moving on above-average volume during Thursday's session.
Author:

NEW YORK (

TheStreet

) -- Several stocks trading under $10 were moving on above-average volume during Thursday's session.

Palm

(PALM)

stock has risen 0.9% to $8.20 in pre-market trading after being downgraded by two brokers, according to

MarketWatch.

The brokers expressed concerns about weak sales at Palm's new webOS handsets at Verizon. Palm was reduced to underperform by Bank of America/Merrill Lynch and cut to neutral by MacQuarie Research, according to

MarketWatch.

The 50-day average daily volume for Palm is 13.5 million.

Sterling Bancshares

TheStreet Recommends

(SBIB)

has fallen 2.6% to $4.80 in pre-market trading after announcing Wednesday that it had priced a public offering of 17.4 million shares of common stock to the public at $4.60 per share for total gross proceeds of approximately $80 million. Sterling expects to close the sale of the shares of common stock on March 2, 2010. The 50-day average daily volume for Sterling is 1.2 million.

TriQuint

(TQNT)

stock has advanced 3.3% to $7 after posting impressive fourth-quarter revenue and current quarter forecasts that exceeded analysts expectations as it continues to make advances in the mobile devices market. TriQuint had reported revenue of $193 million, up 30%, and expects comparable earnings of 8 to 10 cents a share in the current quarter, compared with analysts estimates of 7 cents a share. The 50-day average daily volume for TriQuint is 3.3 million.

-- Reported by Andrea Tse in New York

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