5 of Last Week's Biggest Winners

What's better than momentum? Mo' momentum.

Let's take a closer look at five of this past week's biggest scorchers.

Source: Barron's.

Global Crossing was the market's hottest stock, soaring 74% after agreeing to be acquired by Level 3 (Nasdaq: LVLT). The all-stock deal was originally for a 56% premium, but Global Crossing's stock surpassed the $1.9 billion takeover bid as Level 3's shares also took off on the news.

Idenix Pharmaceuticals bounced back from an unpopular secondary offering earlier this month when Novartis (NYSE: NVS) revealed that it was tacking on to its already sizable position. This doesn't mean that the Swiss drug giant is out to acquire all of Idenix, but buying in after the secondary is a welcome act of validation.

Sify continued to add to the monster gains it has amassed in recent weeks. The Indian provider of connectivity, hosting, and other IT-related services is seen as a great play on the colossal upside of India's online migration. The shares have nearly doubled since I recommended it as a portfolio replacement three months ago.

The biggest winner on the New York Stock Exchange was Graham Packaging. The plastic container maker is being acquired by rival Silgan Holdings in a $4.1 billion deal.

Shares of Acorda were halted -- and then kept climbing -- after an analyst report speculated that its multiple sclerosis drug may be receiving a patent extension. Acorda's Ampyra improves the walking ability of people with MS.

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.