Read Larry Connors' blog – Short Term Trading Strategies
The stock was up 27 cents just after 9:05 am ET, rallying to $5.23. If pre-market gains hold, the stock will open at its highest level in two weeks.
China Precision Steel said it expects to report revenues of $87.7 million for the full year 2008, an increase of 62.6% from $54.0 million reported last year. Gross profit for the year is expected to be $22.5 million, an increase of 49.6% from $15.0 million reported in the previous fiscal.
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