Sirius XM, Tellabs: Early Volume Plays - TheStreet

Sirius XM, Tellabs: Early Volume Plays

Several stocks trading near $5 were poised to move on above-average volume during Tuesday's session.
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NEW YORK (

TheStreet

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

Sirius XM

(SIRI) - Get Report

rose by 3 cents, or 4.7%, to 71 cents in the premarket session after Lazard Capital Markets analysts initiated coverage of the stock with a buy rating and a $1 price target. The firm highlighted Sirius XM's falling costs, loyal subscriber base of 18.5 million, and entrenched growth. Lazard also said that rising cash flow will make refinancing debt maturities in 2013 easy. The 50-day average daily volume for Sirius is 22.4 million, according to the

Nasdaq

.

Tellabs

(TLAB)

gained 33 cents, or 5.6%, to $6.23 in the premarket session after the company reported fourth-quarter earnings of 9 cents a share, better than the Thomson Reuters average estimate of 7 cents a share. Revenue fell 4.7% from a year ago to $389 million, which was slightly below consensus. Looking ahead, Tellabs offered in-line revenue guidance for the first quarter, adding that it will cut about 200 jobs over the next five quarters. The 50-day average daily volume for Tellabs is 7 million shares.

MDRNA

(MRNA) - Get Report

jumped by 16 cents, or 16.5%, to $1.13 in the premarket session after the company said the State Intellectual Property Office of the People's Republic of China issued a patent for the use of nucleic acids to treat cancer. The 50-day average daily volume for MDRNA is 1.59 million shares.

YM BioSciences

(YMI)

was poised to open sharply higher after the company said it received clearance from the Food and Drug Administration for two ongoing Phase II nimotuzumab trials at U.S. clinical sites. One of the two trials is in non-small-cell lung cancer (NSCLC) patients who are ineligible for curative treatment and being treated palliatively and the other in patients with brain metastases from NSCLC. The three-month average daily volume for YM BioSciences is 251,000, according to Yahoo! Finance.

(

Earlier at 7:34 a.m. EST

)

Dynavax Technologies

(DVAX) - Get Report

was set to open sharply higher Tuesday after the biopharma company announced positive data from two studies that differentiate its SD-101 treatment from standard-of-care as well as emerging treatments for chronic hepatitis C infection. The 50-day average daily volume for Dynavax is 492,000, according to the

Nasdaq

. Shares closed Monday at $1.49 before jumping 24% in late trading.

Threshold Pharmaceuticals

(THLD)

should also trade up after the company announced data from a phase 1/2 clinical trial of TH-302 in patients with gastrointestinal cancer. Of the 38 patients assessed for response, 12 patients (32%) had a RECIST criteria partial response. The 50-day average daily volume for Threshold is 56,000. Shares finished trading Monday at $1.92 and rallied 27.6% in the after-hours session.

Matrixx Initiatives

(MTXX)

was poised to rally Tuesday after the healthcare products company late Monday reported fiscal third-quarter earnings of 41 cents a share, surprising analysts who had expected a loss of 7 cents a share. Revenue tumbled 26.4% from a year ago to $28.5 million, although that was still ahead of consensus. Average gross margin rose to 73% from 71% in the year-ago quarter. The 50-day average daily volume for Matrixx is 304,000. The stock closed Monday at $4.56.

PLX Technology

(PLXT)

was indicated to open higher after the semiconductor company late Tuesday posted fourth-quarter earnings of 9 cents a share, better than the Thomson Reuters average estimate for a profit of a penny a share. Revenue surged 87% to $26.6 million, also ahead of estimates. PLX Tech also offered better-than-expected revenue guidance for the first quarter. The 50-day average daily volume for PLX Tech is 168,000 shares. Shares closed Monday at $3.99 and rose to $4.31 in late trading.

Ener1

(HEV)

was set to open lower Tuesday after the battery systems developer filed for a $60 million common stock offering. The three-month average daily volume for Ener1 is 924,000, according to Yahoo! Finance. The stock fell 4.3% Monday to close at $4.50.

-- Written by Robert Holmes in Boston

.

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