Two Huge Unusual Volume Spikes, Earnings Redemption (MERU, BCOR)

24/7 Wall St.

Earnings season peaked this week and we have seen many huge winners and losers emerge from this season.  On Friday we have two very unusual earnings gainers and we think these names will merit some additional research over the weekend.  One is up over 60% and one is up over 20%.  These have also both been considered as down and out turnaround stocks.

Meru Networks, Inc. (NASDAQ: MERU) surged after beating earnings expectations handily.  The wireless LAN provider is worth a mere 448 million according to Yahoo! Finance, and that is after a 61.5% gain to $2.73.  What is interesting here is that the $1.69 pre-earnings trading level compared to a 52-week range of $1.42 to $10.61. We have also seen over 1.4 million shares trade when there are only almost 170,000 shares traded on a normal day.

Meru posted a 26% gain in sequential revenue growth and its…

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