Early Volume Plays Among Those Valued Below $10 (HERO, HOV, CWTR, XIDE)

Some of the stocks that are valued below $10 and have the potential to become one of the high volume movers in the early trading hours are: Hercules Offshore Inc HERO has been upgraded by Collin Gerry of Raymond James during a televised interview today. Collin believes that shallow water driller stocks have been oversold as a result of BP’s BP Gulf spill. "If you look at energy, all stocks were thrown out with the bathwater. You have a couple of names whose fundamentals are largely unaffected and in the long term might actually improve, and those are shallow water names like Rowan RDC and Hercules," said Collin on CNBC's "Fast Money" show. HERO jumped 9.3%, to $2.87 in the pre-market session. The stock has a 50-day average daily volume of 2.98 million. Homebuilder Hovnanian HOV announced that its Q2 loss of $0.36 a share bettered analysts’ estimates of a loss of $0.64 a share. HOV’s revenue of $318.6 million, however, missed Street view of $352 million. Following the news, HOV slipped 1.6% to $6.05 in pre-market trading. The company has a three-month average daily volume of 4.52 million. Apparel retailer, Coldwater Creek CWTR, posted a surprise profit of $0.03 a share for Q1. The analysts were expecting a loss of $0.04 a share. The company also announced better-than-expected guidance range for 2010. CWTR shares rallied 5.2% to $6.25 in the pre-market session. The company has a 50-day average daily volume of 859,000. The stored electrical energy company, Exide Technologies XIDE, reported a Q1 adjusted profit of $0.49 a share on revenue of $714.7 million, beating the consensus of $0.45 a share profit on revenue of $697.8 million. The company also announced that President and COO Edward O'Leary has submitted his resignation effective from June 16. XIDE shares advanced 21.8%, to $5.20 in pre-market hours. The company has a 50-day average daily volume of 620,000. Read more from Benzinga's Markets.