Early Volume Plays Among Those Valued Below $10 (NOOF, PTEC, PMACA, ABK)

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: New Frontier Media NOOF announced a Q4 loss of $0.26 a share, while analysts were expecting it to report a profit of $0.07 a share. Shares of NOOF closed at $1.77 yesterday. The company has a 50-day average daily volume of 27,000. Phoenix Technologies PTEC announced that Hewlett-Packard HPQ is going to buy HyperSpace assets of PTEC, in a $12 million all cash deal. By 10:51 am, PTEC shares climbed 2.03% to $3.02 and HPQ surged 2.14% to $46.38. The company has a 50-day average daily volume of 116,000. PMA Capital PMACA made an announcement that it is going to be bought by Old Republic ORI for $365 million in an all stock deal. By 10:57 am, shares of PMACA rallied 13.26% to $6.92, while ORI slipped 0.85% to $12.80. PMA Capital has a 50-day average daily volume of 104,000. Ambac Financial ABK announced late yesterday that it may opt to negotiate a restructuring program via a prepackaged bankruptcy program. There is a high possibility of the company running out of liquidity before it reaches Q2 2011. By 11:44 am, ABK shares had climbed 6.79% to $0.69. Read more from Benzinga's Markets.