Ambac, Mod-Pac: Midday Volume Plays
NEW YORK ( TheStreet) -- Several small-cap stocks were moving on above-average volume during Wednesday's session.
Ambac Financial (ABK) jumped by 37 cents, or 33.3%, to $1.48 after the insurer said it swung to a third-quarter profit of $2.19 billion, or $7.58 a share, from a year-ago loss of $2.43 billion, or $8.45 a share. Volume topped 62.6 million shares, compared to the three-month average daily volume of 21.3 million, according to Yahoo! Finance.
Mod-Pac (MPAC) surged by $1.39, or 56.8%, to $3.84 after the stock paper manufacturer posted third-quarter earnings of 29 cents a share on revenue of $12.6 million. Volume topped 56,000 shares, compared to the 50-day average daily volume of 4,100, according to the Nasdaq.
Clarient (CLRT) dropped by 51 cents, or 16.5%, to $2.58 after the pharmaceuticals services company late Tuesday reported a third-quarter net loss of four cents a share, compared to the Thomson Reuters average estimate for a profit of a penny a share. Volume topped 4 million shares, compared to the 50-day average daily volume of 775,000, according to the Nasdaq.Consulier Engineering (CSLR) lost $1.45, or 41.4%, to $2.05 before the stock was halted, although there was no company-specific news circulating. However, Consulier last week said it would voluntarily delist from the Nasdaq on or before Nov. 6. Volume topped 10,000 shares, compared to the 50-day average daily volume of only 150, according to the Nasdaq. Capital Trust (CT) plummeted by 54 cents, or 26%, to $1.54 after the company late Tuesday reported a third-quarter net loss of $4.75 a share, compared to the lone analyst estimate for a loss of 54 cents a share. Volume topped 568,000 shares, compared to the three-month average daily volume of 663,000, according to Yahoo! FInance. -- Written by Robert Holmes in New York. Check out all of Wednesday's high-volume, under-$5 stocks at the Dollar Store Follow Robert Holmes on Twitter and become a fan of TheStreet.com on Facebook.
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