Tellular Corpoartion (NasdaqGM: WRLS) roared out of the blocks Friday, gaining 47.41 percent in the first hour of trading to $5.97. Initial volume of 790,060 shares trampled its three-month daily average of 20,212 shares. Excitement followed in the wake of Thursday’s announcement of Q4 revenues and earnings. The Chicago-based wireless concern reported revenue of $12.0 million, up 17 percent year-over-year, and net income before non-cash items of $2 Million.
Citigroup Inc. (NYSE:C) led the volume parade in early trading Friday, trading in 274,020,554 shares in just the first hour. Normal volume for a day is around 448,837,000 shares. The banking conglomerate also gained 3.35 percent to $4.47. The news comes in spite of word this morning that several Citigroup, Inc. investors, including Charles Schwab Corp. and hedge fund Cambridge Place Investment Management have sued the bank over its mortgage underwriting processes.
DexCom Inc. (NasdaqGM: DXCM) took a thumping of 19.34 percent in early Friday trading to $11.22. Volume was 3,568,238 shares, dwarfing its three-month daily average of 337,547 shares. The company, which develops and markets continuous glucose monitoring systems for use by diabetics, reported total third-quarter revenue of $11.7 million, up 61 percent from the same quarter in 2009, but a net loss of $13.4 million, down from $13.5 million for the year-ago quarter.