NEW YORK (TheStreet) -- Several stocks trading around $10 were moving on above-average volume early in Thursday's shortened half-day session.

Questcor Pharmaceuticals

(QCOR)

shares leapt 20% to $5.19. The company said the FDA will review its application to market a drug called Acthar, its treatment for infant spasms.

Volume surged to 2.6 million shares at about 10:15 a.m. EDT Thursday. The three-month daily average volume for Questcor is about 602,000 shares, according to Yahoo! Finance.

Another biotech,

Arena Pharmaceuticals

(ARNA) - Get Report

saw its shares fall 4% to $3.63. On Wednesday after the close, Merck said it scuttled a collaboration with Arena after an antisclerosis drug failed to produce good enough results in a mid-stage study. A day earlier, Arena shares shot higher after the company submitted a new drug application to the FDA for an obesity treatment.

Volume in Arena issues was 430,000 as of 10:15 a.m. EDT Thursday. The three-month moving average for Arena is 2.5 million shares.

Golar LNG

TheStreet Recommends

(GLNG) - Get Report

shares jumped 15% to $13.09. The liquefied gas carrier, which does business in emerging markets in Latin America and Asia, was mentioned favorably Wednesday evening on the

CNBC

program

Fast Money.

Volume reached more than 240,000 shares by 10:15 a.m. EDT Thursday. The three month-moving average for Golar is about 190,000 shares.

-- Written by Scott Eden in New York

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Scott Eden has covered business -- both large and small -- for more than a decade. Prior to joining TheStreet.com, he worked as a features reporter for Dealmaker and Trader Monthly magazines. Before that, he wrote for the Chicago Reader, that city's weekly paper. Early in his career, he was a staff reporter at the Dow Jones News Service. His reporting has appeared in The Wall Street Journal, Men's Journal, the St. Petersburg (Fla.) Times, and the Believer magazine, among other publications. He's also the author of Touchdown Jesus (Simon & Schuster, 2005), a nonfiction book about Notre Dame football fans and the business and politics of big-time college sports. He has degrees from Notre Dame and Washington University in St. Louis.