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It was another good week for the longs.
The S&P 500 closed 1% higher, hitting an important milestone when it doubled off its demonic intraday low of 666, set back in March 2009.
There are naturally plenty of stocks that performed considerably better than the market as a whole. Let's take a closer look at five of this past week's biggest scorchers.
|KV Pharmaceutical (NYSE: KV-A )||$9.86||125%|
|Geeknet (Nasdaq: GKNT )||$29.59||50%|
|Weight Watchers (NYSE: WTW )||$64.72||47%|
|La-Z-Boy (NYSE: LZB )||$11.25||36%|
|Limelight Networks (Nasdaq: LLNW )||$8.03||34%|
KV Pharmaceutical was the market's biggest winner, more than doubling last week. It's been a huge month for the biotech, which began February neglected by Mr. Market at $1.61. It's been a six-bagger in February alone! KV Pharmaceutical has been on a tear since the FDA approved Makena, the only treatment on the market to reduce the risk of preterm birth in women with a history of singleton spontaneous preterm birth.
Geeknet could've screened Revenge of the Nerds after a blowout quarter. The company that attracts almost 55 million unique monthly visitors to its portfolio of tech-heavy websites, including SourceForge, Slashdot, and ThinkGeek, saw quarterly revenue spike 53% to $50 million. Net income from continuing operations more than tripled to $0.77 a share.
Shares of Weight Watchers also put on some weight after the dieting-plan giant posted better-than-expected financial results. Adjusted net income climbed 9% when analysts were braced for a dip in profitability. Weight Watchers had a 13% surge in global paid weeks, validating the growing popularity of its support services.
It's all about exceeding hosed-down expectations at La-Z-Boy. The recliner maker's latest quarter wasn't all that special. Revenue and earnings slipped during the quarter, but the results still outpaced analyst targets.
Limelight Networks posted a surprisingly strong quarter. Larger rival Akamai (Nasdaq: AKAM ) came undone earlier in the month when it reported uninspiring results, leading investors to believe that the cutthroat nature of content delivery networks would sink all of its players. Thankfully, that doesn't appear to be the case.
It was a great week for these five stocks. Now let's see if they're up for an encore.
Which of these five stocks do you think will continue to move higher? Share your thoughts in the comment box below.