Nasdaq Small-Cap Market Movers (GYRO, BCAR, WBNK, CBK) Up More Than 16%

GyroDyne Co. of America, Inc. (NASDAQ: GYRO) $61M (MarketCap) is currently trading up $25.75, or 55% at $72.25 a share on nine times the average volume. The heavy trading comes after yesterday’s announcement that the New York based real estate investment trust (REIT) had been awarded a $99M payment judgment from the State for land appropriation in 2005. The payment is also subject to back-dated interest payments not to exceed 9%.

Bank of the Carolinas Corp. (NASDAQ: BCAR) $14M (MarketCap) is currently trading up $.46, or 13% at $3.93 a share on low volume. There is no news to report and the company’s stock has been sliding since May of 2010 in a technical downward channel and a $.52 spread between the bid and ask.

Maccamaw Bancshares Inc. (NASDAQ: WBNK) $8M (MarketCap) is currently trading up $.11 or 7% at $1.64 on light volume. The move comes with no particular news; a week and half ago the company released press they have commenced a rights offering of about 8.3M shares of common stock to shareholders priced at $1.25.

Pinnacle Airlines Corp. (NASDAQ: PNCL) $101M (MarketCap) is currently trading up $.43 or 8% at $5.87 a share on a third of the volume. The move comes on news the company has sold two of its manufactured regional carriers to operate as Delta Connection for $82.5M. Pinnacle is one of the largest of Delta’s nine regional carriers. The deal is expected to streamline Delta’s regional operations and save money.