5 of Last Week's Biggest Winners

These five stocks posted double-digit percentage gains.

Mar 23, 2014 at 7:30AM

What's better than momentum? Mo' momentum. Let's take a closer look at five of this past week's biggest scorchers.

Company

March 21

Weekly Gain

Endocyte (NASDAQ:ECYT)

$28.17

106%

First Solar (NASDAQ:FSLR)

$73.37

36%

Tower Semiconductor (NASDAQ:TSEM)

$9.34

13%

ZAGG (NASDAQ:ZAGG)

$4.63

10%

Hewlett-Packard (NYSE:HPQ)

$31.95

10%

Source: Barron's.

Let's start with Endocyte. The biotech was the market's biggest winner, more than doubling on encouraging news for a promising lung cancer treatment that's in clinical trials. A mid-stage study found that Endocyte's drug in combination with a chemotherapy treatment improved the survival rates for some patients. Piper Jaffray boosted its price target on Endocyte from $17 to $36 on the favorable study results.  

First Solar got brighter after hosting an impressive analyst day presentation. First Solar's guidance is encouraging on both ends of the income statement, with healthy top-line growth on track through at least 2016 and cost efficiencies that should improve its bottom line.

Tower Semiconductor moved higher after fortifying a subsidiary's finances. Specialty foundry leader TowerJazz was able to lower its net debt position and extend its maturities by coming to terms with institutional holders in issuing new unsecured bonds. 

ZAGG moved higher after a new entry-level iPad was introduced. The new iPad replaced the iPad 2 at $399 with an updated model that includes Retina Display and other beefed up features. The size is the same, so ZAGG won't benefit from folks who need new accessories or protective screens, but this does generate buzz that should drum up incremental sales. 

Finally we have Hewlett-Packard on the move. CEO Meg Whtiman told shareholders that the printing giant would make a big announcement in June related to an entry into the commercial 3-D-printing market. Whitman explains that HP has overcome the technical problems that have kept 3-D printing from going mainstream.

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Rick Munarriz and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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