Blockbuster, Hauppauge Digital: Early Volume Plays

NEW YORK ( TheStreet) -- Blockbuster ( BBI) was among several stocks trading below $5 poised to move on above-average volume Friday after the embattled video rental chain.

Blockbuster reported a first-quarter loss of 33 cents a share on revenue of $939.4 million, compared to the Thomson Reuters average estimate for a loss of 14 cents a share on revenue of $933.3 million. Excluding severance payments, costs for closing stores and other one-time expenses, Blockbuster matched the average analyst projection with a loss of 14 cents a share in the quarter.

"We expect the next 12 to 18 months will remain challenging," Blockbuster CFO Tom Casey said in a statement.

Shares of Blockbuster, which rallied 15% Thursday, were down 22.1% to 39 cents in Friday's premarket session. The three-month average daily volume for Blockbuster is 10.85 million, according to Yahoo! Finance.
More Stocks Under $5
Top Dividend Stocks Under $5

On the other hand, BioSphere Medical ( BSMD) jumped by $1.30, or 43.3%, to $4.30 in the premarket session after Merit Medical ( MMSI) said it will acquire the company for $4.38 per share in a $96 million cash deal. The 50-day average daily volume for BioSphere is 28,000, according to the Nasdaq.

Hauppauge Digital ( HAUP) were set to build on Thursday's 197.1% surge after the company said its WinTV-HVR TV tuner boards for PCs can now stream live TV over the Internet to the Apple ( AAPL) iPad, iPhone and iPod touch. Shares of Hauppauge were up 27.7% to $3.87 in Friday's premarket session. The 50-day average daily volume for Hauppauge is 90,000.

TOP Ships ( TOPS) jumped by 10 cents, or 8.3%, to $1.30 in the premarket session even after the company reported a profit of 3 cents a share on revenue of $23.1 million, which was well below the Thomson Reuters average estimate for a profit of 14 cents a share on revenue of $25 million. The 50-day average daily volume for TOP Ships is 62,000.

-- Written by Robert Holmes in Boston.

Check out all of Friday's high-volume, under-$5 stocks at the Dollar Store. View the Dollar Store portfolio on StockPickr.

Follow Robert Holmes on Twitter and become a fan of TheStreet.com on Facebook.

If you liked this article you might like

Blockbuster Tries to Lure Netflix Customers

Dish Has Funny Plans for Blockbuster

Dish Has Funny Plans for Blockbuster

Netflix Dishes About Blockbuster Deal

Netflix Dishes About Blockbuster Deal

Dish Network's Blockbuster Bid Approved

Dish Network's Blockbuster Bid Approved

March Retail Sales: Live Blog

March Retail Sales: Live Blog