Quantum, Citizens South: Midday Volume Plays
(
Updated with corrected earnings from Quantum
.)
NEW YORK (
) -- Several small-cap stocks were moving on above-average volume during Wednesday's session.
Quantum Corp.
(QTM) - Get Free Report
jumped by 37 cents, or 22.7%, to $2 after the company late Tuesday said it swung to a fiscal second-quarter profit of $11.4 million, or 4 cents per diluted share, compared with a year-ago loss of $3.3 million, or a penny a share. On a non-GAAP basis, Quantum said it earned 11 cents a share in the quarter. Revenue slipped 15% from a year ago to $174.9 million but still exceeded consensus targets. Volume topped 11.6 million shares, compared to the three-month average daily volume of 1.3 million, according to Yahoo! Finance.
Citizens South Banking
( CSBC) rose by $1.01, or 20.8%, to $5.87 after the company said it has withdrawn its public offering of approximately $30 million in common stock due to "unfavorable market conditions." Volume topped 40,000 shares, compared to the 50-day average daily volume of 3,900, according to the Nasdaq.
California Coastal Communities
(CALC)
tumbled by 30 cents, or 26.1%, to 85 cents after the company said it has filed voluntary petitions for reorganization under Chapter 11 in order to extend the maturity dates of approximately $182 million of indebtedness related to credit facilities for its Brightwater development project. Volume topped 741,000 shares, compared to the 50-day average daily volume of 36,000, according to the Nasdaq.
Allied Irish Banks
(AIB)
lost 58 cents, or 9.5%, to $5.55, down on worries that Ireland's plans to create a "bad bank" could be delayed, according to
CNBC
. Meanwhile,
Bloomberg
reported that there is concern European regulators may impose structure changes in return for government aid. Volume topped 4.4 million shares, compared to the three-month average daily volume of 2.3 million, according to Yahoo! Finance.
Anadigics
(ANAD)
tacked on 6 cents, or 1.7%, to $3.50 after the company late Tuesday reported a third-quarter loss of $12.9 million, or 21 cents a share. However, Anadigic' adjusted loss totaled 10 cents a share, which beat the Thomson Reuters average estimate for a loss of 15 cents a share. Volume topped 2.6 million shares, compared to the 50-day average daily volume of 806,000, according to the Nasdaq.
Health Grades
(HGRD)
was higher by 12 cents, or 3%, to $4.15 after the company said it had a third-quarter profit of $1.8 million or 6 cents a share, exceeding the Thomson Reuters average estimate by a penny a share. Volume topped 295,000 shares, compared to the 50-day average daily volume of 109,000, according to the Nasdaq.
-- Written by Robert Holmes in New York
.
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