This Day On The Street
Continue to site
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

CTI Industries, Pacific Capital: Midday Volume Plays

NEW YORK ( TheStreet) -- CTI Industries (CTIB - Get Report) rallied on first-quarter results, making it one of several stocks moving on a sharp increase in share volume Friday.

CTI Industries shares rose after the novelty products maker posted a first-quarter profit of 21 cents a share on revenue of $12.4 million, which was well ahead of the lone analyst estimate for a profit of 10 cents a share on revenue of $10.6 million, according to Thomson Reuters.

CTI Industries surged by $2.28, or 64.8%, to $5.80. Volume topped 335,000 shares, compared to the 50-day average daily volume of 10,000, according to the Nasdaq.

Meanwhile, Pacific Capital Bancorp (PCBC) continued to plummet, falling by 56 cents, or 25.6%, to $1.63, bringing its two-day loss to more than 60%. Volume topped 12.29 million shares, compared to the 50-day average daily volume of 3.28 million.

On Thursday, Pacific Capital Bancorp said it will receive $500 million from the sale of 225 million shares to private-equity firm Ford Financial Fund at a price of 20 cents per share. Pacific Capital said it will also sell 455,000 shares of newly created preferred stock to Ford Financial at $1,000 per share.

After the transactions, Ford will own approximately 91% of Pacific Capital's common stock on an as-converted basis.

Elsewhere, Central Pacific Financial (CPF - Get Report) dropped by 46 cents, or 18.2%, to $2.07 after the company recorded a first-quarter adjusted loss of $1.97 a share, which was wider than a single analyst estimate for a loss of $1.54 a share.

Central Pacific said the provision for loan and lease losses was $58.8 million, compared to $26.8 million in the year-ago quarter and $105.2 million in the fourth quarter of 2009. Volume topped 2.26 million shares, compared to the three-month average daily volume of 1.19 million, according to Yahoo! Finance.

Pinnacle Data Systems (PNS) rallied by 37 cents, or 34.6%, to $1.44 after the company swung to a first-quarter profit of 4 cents a share from a year-ago loss of 9 cents a share. Total sales declined 19% to $8.8 million, but were up 2% sequentially. Volume topped 211,000 shares, compared to the three-month average daily volume of 4,400.

Among other big volume movers, Trico Marine Services (TRMA) jumped 17.1% to $3.08, and volume of 5.47 million was well ahead of its 50-day average of 836,000.

Popular (BPOP - Get Report) also traded higher, rising 7.4% to $4.06. Volume topped 52.6 million shares, more than doubling its average daily volume.

On the downside, Ambac Financial (ABK) fell 12.6% to $1.46 as volume of 35.6 million was just below its average daily volume of 46.68 million shares.

-- Written by Robert Holmes in Boston.

Check out all of Friday'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 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
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
PCBC $6.85 0.00%
BPOP $25.46 0.00%
CPF $19.63 0.00%
CTIB $4.98 0.00%
AAPL $93.99 0.00%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs