What's better than momentum? Mo' momentum.
Let's take a closer look at five of this past week's biggest scorchers.
|
Company |
March 30 | Weekly Gain | My Watchlist |
|---|---|---|---|
|
Amylin Pharmaceuticals |
$24.96 | 61% | Add |
|
Xinyuan Real Estate |
$3.47 | 31% | Add |
|
Arena Pharmaceuticals |
$3.08 | 28% | Add |
|
Brightcove |
$24.80 | 18% | Add |
|
Caesars Entertainment |
$14.74 | 18% | Add |
Source: Barron's.
Amylin was one of last week's biggest winners, soaring more than 60% after reportedly rejecting an unsolicited buyout offer for $3.5 billion.
Xinyuan Real Estate hit a fresh 52-week high on Friday, now more than doubling from its October lows. There was no material news on the Chinese homebuilder -- outside of receiving a pair of awards from a China study group -- but growth stocks in the world's most populous nation have been bouncing back after a rough 2011.
Arena Pharmaceuticals soared after a Food and Drug Administration advisory panel voted in favor of more stringent clinical testing on obesity drugs. Yes, Arena already has a treatment -- lorcaserin -- currently under review, but this move will make it harder for rival treatments in the future to hit the market sooner.
Five different analysts initiated coverage of Brightcove with bullish ratings last week. Sure, these also happen to be the same five firms that served as lead underwriters during the company's February IPO, but praise -- in concert -- is praise nonetheless.
Caesars Entertainment hit the jackpot after Moody's Investors Service upgraded the casino operator's credit rating. An improving economy is a good catalyst for growth in the gaming niche.
More winners for you
It was a great week for these five stocks. If you want to get an early read on some of tomorrow's major gainers there's a special report on three hidden winners in a booming industry. The report is free -- like this article -- but it won't be around forever, so check it out now.
