This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

CTI Industries, Pacific Capital: Midday Volume Plays

Stocks in this article: CTIB PCBC

NEW YORK ( TheStreet) -- CTI Industries (CTIB) 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) 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) 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.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs