NEW YORK ( TheStreet) -- Novell ( NOVL) was one of several stocks trading near $5 poised to move on above-average volume Friday. Novell said late Thursday that it had a second-quarter adjusted profit of 7 cents a share on revenue of $204 million, in line with analysts' estimates. Novell offered weaker-than-expected revenue guidance for the third quarter, saying it expects to see revenue in a range of $205 million to $210 million. Analysts expect third-quarter revenue of $210.1 million. Still, Novell shares rose by 10 cents, or 1.7%, to $6 in the premarket session. The 50-day average daily share volume for Novell is 5.06 million, according to the Nasdaq. Magma Design Automation ( LAVA) jumped by 21 cents, or 6.8%, to $3.28 in the premarket session after the company posted a fourth-quarter profit of 6 cents a share on revenue of $33.6 million, above the Thomson Reuters average estimate for earnings of 4 cents a share on revenue of $32.9 million. The 50-day average daily volume for Magma Design is 548,000. Ditech Networks ( DITC) added 2% to $1.53 in Thursday's after-market session after the telecom equipment maker said its fourth-quarter loss narrowed to 7 cents a share from 33 cents a share in the year-ago quarter. Revenue climbed 43% from a year earlier to $7.3 million. The 50-day average daily volume for Ditech Networks is 79,000. Jackson Hewitt Tax Services ( JTX) jumped by 8 cents, or 5%, to $1.69 in the premarket session after the company said 2010 prepared tax returns declined by 14.4% to 2.53 million, which was below Jackson Hewitt's previous estimate of a decline of 17% to 19%. The three-month average daily volume for Jackson Hewitt is 1.53 million, according to Yahoo! Finance. Luby's ( LUB) was also poised to trade higher Friday after the Financial Industry Regulatory Authority (FINRA) ruled that Credit Suisse ( CS) must buy back auction rate securities that the holding company had purchased through the Swiss bank. Luby's most recent quarterly filing showed that the securities it held had a $7.1 million par value. Credit Suisse was also ordered to pay 6% per annum interest on the securities. The three-month average daily volume for Luby's is 84,000. -- 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.
Jackson Hewitt Tax Service (NYSE:JTX) is trading at unusually high volume Friday with 5.9 million shares changing hands. It is currently at 4 times its average daily volume and trading down 43 cents (-24.7%).
Shares of Jackson Hewitt Tax Service (NYSE:JTX) were gapping down Friday morning with an open price 11.5% lower than Thursday's closing price. The stock closed at $1.74 yesterday and opened today's trading at $1.54.