Newcastle Investment said it had first-quarter net income of $180.2 million, or $3.36 a share, swinging from a year-ago loss of $242.2 million, or $4.59 a share. One analyst surveyed by Thomson Reuters expected a profit of 22 cents a share.
Newcastle Investment shares were jumping 11% to $3.32. Volume topped 1.28 million shares, compared to the three-month average daily volume of 802,000, according to Yahoo! Finance.
CalAmp (CAMP) shares, on the other hand, slumped by 49 cents, or 18.9%, to $2.11 after the wireless communications company said it had a fourth-quarter adjusted net loss of 2 cents a share on revenue of $34.5 million. A single analyst forecasted a loss of 6 cents a share on revenue of $33 million.Despite the earnings beat, CalAmp shares were still lower on increased volume. More than 656,000 shares, compared to the 50-day average daily volume of 104,000, according to the Nasdaq. BigBand Networks (BBND) dropped by 42 cents, or 13%, to $2.80 after the video services company reported a first-quarter adjusted net loss of 7 cents share, swinging from profit of 9 cents a share in the year-ago quarter. Analysts were looking for an average loss of 3 cents a share in the quarter. Volume topped 950,000 shares, compared to the 50-day average daily volume of 322,000. DragonWave (DRWI) lost $1.36, or 17.1%, to $6.61 after the broadband wireless equipment maker posted first-quarter net income of $13.4 million, or 35 cents a share, on revenue of $63.8 million. The Thomson Reuters average estimate was for a profit of 36 cents a share on $62.46 million in sales. Volume topped 2.44 million shares, compared to the 50-day average daily volume of 1.08 million. -- 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 TheStreet.com on Facebook.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV