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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 - Get Report) 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 - Get Report) 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 - Get Report) 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

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BBX $17.03 0.41%
CTIB $4.46 4.94%
RNN $0.45 0.34%
T $33.45 0.18%
AAPL $118.03 -0.71%


Chart of I:DJI
DOW 17,813.39 +1.20 0.01%
S&P 500 2,088.87 -0.27 -0.01%
NASDAQ 5,116.1430 +13.3350 0.26%

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