Why Universal Display, Taseko Mines, and Organovo Holdings Jumped Today

The stock market fought its way back from early losses on Friday, with investors taking heart from positive economic data, even as they prepared for the beginning of a new earnings season in the next couple of weeks. At least for now, it appears that policy makers will do their utmost to prevent any huge disruption in the stock market, and that boded well for shareholders today. In particular, shares of Universal Display (NASDAQ: OLED  ) , Taseko Mines (NYSEMKT: TGB  ) , and Organovo Holdings (NYSEMKT: ONVO  ) were among the best performers of the day, with their excitement helping to carry the whole market higher.


Source: Universal Display.

Universal Display jumped 8% after the maker of organic LED technology earned favorable comments from Wall Street analysts. The bullish argument for the company included assertions that the long-awaited launch of new large-screen television displays using Universal Display technology could help boost the company's results in the second half of 2014, and new applications, such as wearable technology, could present other growth opportunities. Universal Display has hoped for its customers to ramp up their demand for a while, but patient investors could be close to earning their reward if analysts are correct.

Taseko Mines rose almost 10% as shareholders favorably considered yesterday afternoon's decision from Canada's highest court regarding the company's key New Prosperity mine in British Columbia. The project has been held up in part by claims from First Nations aboriginal peoples that the New Prosperity mine lies within the boundaries of traditional territorial lands. Yesterday's court decision confirms the Tsilhqot'in First Nation's title to traditional lands beyond its formally defined reserve area, but it leaves the New Prosperity mine beyond those boundaries. Taseko hopes that the decision will remove objections to the development, and improve First Nations' relations with the company going forward.

Source: Organovo Holdings.

Organovo Holdings gained another 6%, adding to its impressive 12% rise from Thursday after a well-regarded researcher gave positive remarks about the potential for Organovo's 3-D liver assay test system to detect toxic substances that could do damage to liver tissue, even at relatively low levels. Given the need for tests like this to be sensitive enough to pick up potential problems under ordinary human-body conditions, the results helped bolster Organovo investors' bullish arguments for the stock. Organovo hopes to launch the liver assay test by the end of the year and, although that's ambitious, it's also a good sign that the company understands the need to jump on the opportunity in the 3-D niche while investors still have interest in it.

Leaked: This coming blockbuster will make every biotech jealous
The best biotech investors consistently reap gigantic profits by recognizing true potential earlier, and more accurately, than anyone else. Let me cut right to the chase. There's a product in development that will revolutionize not how we treat a common chronic illness, but potentially the entire health industry. Analysts are already licking their chops at the sales potential. In order to outsmart Wall Street and realize multi-bagger returns, you'll need The Motley Fool's new free report on the dream team responsible for this game-changing blockbuster. CLICK HERE NOW.


Read/Post Comments (0) | Recommend This Article (5)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 3011472, ~/Articles/ArticleHandler.aspx, 10/2/2014 2:35:44 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement