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

Resource Capital, Bank of Ireland: Early Volume Plays

NEW YORK ( TheStreet) -- Resource Capital (RSO - Get Report) was among several stocks trading near $5 poised to move on above-average volume Thursday after the company priced a secondary offering at a discount to its closing price Wednesday.

Resource Capital said it has priced a public offering of 7.5 million shares of its common stock at $5.25 per share. Underwriters were granted a 30-day option to purchase up to an additional 1.12 million shares of common stock to cover overallotments, if any.

Resource Capital shares dropped by 53 cents, or 9.4%, to $5.14 in the premarket session. The three-month average daily volume for Resource Capital is 740,000, according to Yahoo! Finance.
Resource Capital
Stock Falls Hard on Offering

Elsewhere, Bank of Ireland (IRE) dropped by $1.30, or 18.7%, to $5.66 in the premarket session after the bank's shareholders approved a €3.5 billion capital-raising program. The three-month average daily volume for Bank of Ireland is 1.97 million.

On the other hand, China Techfaith Wireless (CNTF - Get Report) jumped by 35 cents, or 15.5%, to $2.61 in the premarket session after the company reported first-quarter net income of $6.9 million on revenue of $60.9 million, up from year-ago net income of $2.1 million and revenue of $48.7 million.

Looking ahead, China Techfaith said it expects second-quarter revenue of $62 million to $65 million. The 50-day average daily volume for China Techfaith is 153,000, according to the Nasdaq.

SMTC Corp. (SMTX - Get Report) rose by 14 cents, or 3.7%, to $3.88 in the premarket session after the company said it has amended loan agreements with Wells Fargo Capital Finance Corporation and Export Development Canada to refinance its short- and long-term debt. The 50-day average daily volume for SMTC is 421,000.

-- Written by Robert Holmes in Boston.

Check out all of Thursday'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
IRE $14.54 0.00%
CNTF $0.71 -6.26%
SMTX $1.40 -3.45%
RSO $12.24 1.83%
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%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs