This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Zale, Huntington Bancshares: Midday Volume Plays

NEW YORK ( TheStreet) -- Zale (ZLC) was among several stocks trading under $5 on above-average volume following a report that the jewelry retailer will sell a minority stake to a private-equity firm.

Zale is planning to sell a minority stake to Golden Gate Capital, two people familiar with the decision told Bloomberg late Tuesday. The report said Golden Gate Capital could take a $100 million to $150 million stake in the struggling retailer, although a deal has not been finalized.

Zale shares were up 21 cents, or 6.6%, to $3.39. Volume topped 1.15 million shares about an hour into the trading day, compared to the three-month average daily volume of 2.3 million, according to Yahoo! Finance.

Elsewhere, Bionovo (BNVI) shares surged by 9 cents, or 21%, to 53 cents after the company said the U.S. Patent and Trademark Office has issued a patent covering a method of using Bionovo's proprietary drug candidate Bezielle for the treatment of metastatic breast cancer. Volume topped 7.35 million shares, compared to the 50-day average daily volume of 779,000, according to the Nasdaq.

Huntington Bancshares (HBAN - Get Report) jumped by 75 cents, or 12.9%, to $6.58 after the bank swung to a first-quarter profit of $10.4 million, or a penny a share, compared with a year-ago loss of $2.49 billion, or $6.79 a share. Volume topped 47.7 million shares, compared to the 50-day average daily volume of 22 million.

Jones Soda (JSDA) rose 3% to $1.29, as more than 1.3 million shares changed hands. On Tuesday, Jones Soda said Target (TGT) will being to sell its Gaba line of beverages in May.

Ocean Bio-Chem (OBCI - Get Report) rallied 31.7% to $2.37 after the company said revenue in the first quarter rose 26% from a year ago to $5.2 million. Volume topped 595,000 shares, compared to the 50-day average daily volume of 68,000.

Pacific Capital Bancorp (PCBC) jump 16.4% to $4.10 on 3 million shares, more than double the 50-day average daily volume, in the absence of any company-specific news.

-- Written by Robert Holmes in Boston.

Check out all of Wednesday's high-volume, under-$5 stocks at the Dollar Store. View the Dollar Store portfolio on StockPickr.

Follow Robert Holmes on Twitter and become a fan of TheStreet.com on Facebook.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
ZLC $21.02 -0.66%
JSDA $0.34 0.00%
HBAN $11.11 0.00%
OBCI $3.77 0.00%
AAPL $124.75 0.00%

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs