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.

Let's start with Fusion-io. The pioneer of flash memory data storage solutions spiked on consolidation in the hard-drive sector. Western Digital's move to buy Virident Systems in a $685 million deal renewed speculation that Seagate (STX +0.00%) will make a play for Fusion-io to expand beyond its fixed-disk drive stronghold. Analysts at Pacific Crest think Fusion-io can be acquired for as much as $27 a share.

NQ Mobile pumped up the volume after rolling out its Music Radar app in China. The smartphone application offers users an easy platform to search for tunes, identification tools, and a personalized music recommendation engine.

Nokia came through with its second consecutive week of double-digit percentage gains. A week earlier it soared on the sale of its devices and services business in a $7.2 billion deal. This time around it was analysts rallying behind the Finnish handset pioneer. RBC Capital Markets and Bank of America/Merrill Lynch upgraded the shares. RBC is boosting its price target from $5 to $7.

Solar City brightened the day for its investors after teaming up with Direct Energy to launch an investment fund that will bankroll $124 million in solar projects. The solar-panel installer also announced that it has completed its acquisition of Paramount Solar in a mostly stock deal.

Finally we have Alcatel-Lucent. The stock got off to a strong start when Jim Cramer talked up the optical networking giant's prospects on Monday's Mad Money show. Alcatel-Lucent then went on to announce that it had teamed up with SaskTel for a successful trial of fiber-optic data transmission that could enable the delivery of data at speeds of up to 400 gigabytes per second over networks built for much slower traffic.