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

TiVo, Ambac Financial: Midday Volume Plays

NEW YORK ( TheStreet) -- TiVo (TIVO - Get Report) was one of several stocks trading near $5 were moving on above-average volume Wednesday following a ruling by the U.S. Patent and Trademark Office against the digital video recorder maker.

TiVo shares tumbled after the U.S. Patent and Trademark Office ruled Tuesday in favor of Dish Network (DISH) and EchoStar (SATS) in a patent claim case where TiVo claimed both companies infringed on its "time warp" patent.

TiVo shares slid by 47 cents, or 6.2%, to $7.22, extending Tuesday's 5.5% decline. Volume topped 6.11 million shares, compared to the 50-day average daily volume of 5.43 million, according to the Nasdaq.

Elsewhere, Cereplast (CERP) rallied by 87 cents, or 21.5%, to $4.92 after the bioplastics manufacturer said it expects to ship 16 million pounds of bio-plastic resins in 2010, quadrupling year-ago shipments. Volume topped 295,000 shares, compared to the average daily volume of 32,000.

American Capital (ACAS - Get Report) jumped by 52 cents, or 12%, to $4.86 after the company extended its debt-exchange offer by one day to June 9. American Capital needs approval from 85% of its noteholders for its plan to restructure debt, although only 14% of participating noteholders supported the company's plan. Volume topped 8.16 million shares, compared to the 50-day average daily volume of 9.63 million.

Ambac Financial (ABK) plunged by 36 cents, or 33.6%, to 71 cents after the bond insurer said in a regulatory filing that it may seek a negotiated restructuring through a prepackaged bankruptcy.

In addition, senior debtholders of the company have formed a committee to nudge Ambac toward a prepackaged bankruptcy plan, Reuters reports, citing people familiar with the matter. Volume topped 54 million shares, compared to the three-month average daily volume of 55.46 million, according to Yahoo! Finance.

-- Written by Robert Holmes in Boston.

Check out all of Monday'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
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
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
ACAS $13.45 0.00%
TIVO $10.21 0.00%
AAPL $126.44 0.00%
FB $87.28 0.00%
GOOG $523.40 0.00%

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs