By
Rick Aristotle Munarriz
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More Articles
August 29, 2011
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What's better than momentum? Mo' momentum.
Let's take a closer look at five of this past week's biggest scorchers.
|
Company
|
Aug. 26 |
Weekly Gain |
My Watchlist |
| Universal Display (Nasdaq: PANL ) |
$51.71 |
85% |
Add |
| ATP Oil & Gas (Nasdaq: ATPG ) |
$13.87 |
35% |
Add |
| Collective Brands (NYSE: PSS ) |
$12.70 |
34% |
Add |
| Tudou.com (Nasdaq: TUDO ) |
$25.10 |
30% |
Add |
| Country Style Cooking (NYSE: CCSC ) |
$13.26 |
30% |
Add |
Source: Barron's.
Universal Display was last week's biggest winner. The OLED panel pioneer saw its technology validated through a few needle-moving deals including LG Electronics introducing a high-volume OLED smartphone and a wide-reaching licensing agreement with Samsung.
ATP Oil & Gas treated its shareholders to a 35% gusher. The oil producer began production on one of its deepwater wells in the Gulf of Mexico, initially delivering more than 7,000 barrels of oil per day.
The other shoe dropped at Collective Brands, and the market sees that as a good thing. The Payless ShoeSource parent revealed that it will be closing down 475 underperforming stores over the next three years. The bigger catalyst for the pop, though, is the company's decision to begin exploring strategic alternatives. In short, private equity firms will now have to pay more for PayLess, but at least they know that it's open to buyout offers.
Tudou.com climbed on a media report indicating that SINA (Nasdaq: SINA ) may be taking a small stake in the Chinese video-sharing website. Then again, Tudou.com shed more than a third of its value the prior week after going public at $29 a share. The stock was simply making back a good chunk of that decline this time around.
Finally, we have Country Style Cooking Restaurants moving higher. Cowen & Co. upgraded the fast-growing chain of comfort food eateries in China -- from neutral to outperform -- after seeing the stock get hammered in recent months.
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.
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