Early Volume Plays Among Those Valued Below $10 (SMTX, CNTF, IRE, RSO)

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: SMTC Corp SMTX climbed 3.7% to $3.88 in the pre-market session after the company announced that its loan agreements with Wells Fargo Capital Finance Corp and Export Development Canada have been amended to refinance its short- and long-term debt. SMTX has a 50-day average daily volume of 421,000. China Techfaith Wireless CNTF announced that its Q1 net income has risen to $6.9 million from $2.1 million last year, while revenue has climbed to $60.9 million from $48.7 million. The company has a Q2 outlook of $62-$65 million revenue. Shares of CNTF soared 15.5% on the news, to $2.61 in the pre-market trading. Its 50-day average daily volume is 153,000. Bank of Ireland IRE shares tumbled on the news that the bank's shareholders have approved a €3.5 billion capital-raising program. IRE lost 18.7%, to $1.30, during the pre-market session. The company has a three-month average daily volume of 1.97 million. Resource Capital RSO has priced a public offering of its common stock of 7.5 million shares at $5.25 per share. In order to cover over-allotments, if any, underwriters were granted a 30-day option to purchase up to an additional 1.12 million shares of common stock. RSO fell 9.4%, to $5.14 in the pre-market session. It has a three-month average daily volume of 740,000. Read more from Benzinga's Markets.