The market had a ho-hum week, with most of the major market averages posting small dips. Let's take a closer look at five of this past week's biggest scorchers:
Company | April 8 | Weekly Gain | My Watchlist |
|---|---|---|---|
| National Semiconductor | $24.04 | 69% | Add |
| XenoPort | $9.31 | 54% | Add |
| ImmunoGen | $12.12 | 35% | Add |
| Allied Irish Banks | $3.90 | 35% | Add |
| VirnetX | $21.25 | 29% | Add |
Source: Barron's.
National Semi was the market's hottest stock, soaring 69% after agreeing to be acquired by Texas Instruments
XenoPort soared after the Food and Drug Administration approved the company's restless leg syndrome treatment. This wasn't a given, especially after earlier Horizant tests showed that it may cause pancreatic cancer in lab rats. GlaxoSmithKline
Shares of ImmunoGen jumped after marketing partner Roche reported that its T-DM1 prevented breast cancer tumor growth better than a rival treatment. The biotech's stock has climbed 53% since being recommended to Rule Breakers newsletter service subscribers less than six months ago.
VirnetX padded its prior week gains after being awarded a new patent for secure communications technology in smartphones. VirnetX is already going after several tech giants, and this only bolsters its case in these potentially lucrative patent-infringement lawsuits.
Allied Irish Banks saw green after Ireland announced its banking nationalization plans. Despite some problematic stress test results, at least the bank is assured of being a key player in Ireland's banking future. The shares still have a long way to go to take out the bank's reverse-adjusted 52-week high of $22.75.
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.
