Palm, BankAtlantic Bancorp: Midday Volume Plays
NEW YORK (TheStreet) -- Several stocks trading near $5 were moving on above-average volume during Monday's session.
Palm (PALM) jumped by 14 cents, or 3.4%, to $4.14 after the company said its webOS smartphones, including the Pre Plus and Pixi Plus, will be available for AT&T (T) customers. The stock had been as low as $3.65 earlier in the session. Volume topped 35.77 million shares, compared to the 50-day average daily volume of 21.2 million, according to the Nasdaq.
CTI Industries (CTIB) rallied by 47 cents, or 17.4%, to $3.17 after the novelty products maker posted a fourth-quarter profit of 11 cents a share, narrowly edging the single analyst estimate, which called for earnings of 9 cents a share in the quarter. Volume topped 37,000 shares, compared to the 50-day average daily volume of 4,500.
BankAtlantic Bancorp (BBX) jumped on continued takeover chatter. The stock was lately up 32 cents, or 18.3%, to $2.07, bringing its year-to-date surge to nearly 60%. BankAtlantic is speculated to be a target for Barclays (BCS), Toronto Dominion (TD) or Royal Bank of Canada (RY), which are all seeking a bigger footprint in the U.S. Volume topped 3.11 million shares, compared to the three-month average daily volume of 880,000, according to Yahoo! Finance.Rexahn Pharmaceuticals (RNN) gained 25 cents, or 17.7%, to $1.66 after the company announced the formation of its Parkinson's Disease Scientific Advisory Board (SAB), which will collaborate with Rexahn on the clinical development strategy for its drug candidate, Serdaxin, a therapeutic for Parkinson's disease. Volume topped 3.54 million shares, compared to the three-month average daily volume of 1.11 million. -- Written by Robert Holmes in Boston. Check out all of Monday'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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