What's better than momentum? Mo' momentum.

Let's take a closer look at five of this past week's biggest scorchers.

Company

June 10

Weekly Gain

My Watchlist

Temple-Inland (NYSE: TIN)

$29.66

37%

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Gramercy Capital (NYSE: GKK)

$2.77

26%

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Ariad Pharmaceuticals (Nasdaq: ARIA)

$9.56

21%

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Zion Oil and Gas (Nasdaq: ZN)

$6.98

18%

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Ebix (Nasdaq: EBIX)

$20.39

14%

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Source: Barron's.

Temple-Inland was the New York Stock Exchange's biggest winner during a down week, soaring after an unsolicited buyout offer from International Paper (NYSE: IP). Temple-Inland isn't welcoming the deal, but it will be hard to sway shareholders against the $3.3 billion cash bid.

There was no material news leading to last week's 26% spike in the shares of Gramercy Capital, but the commercial real estate financier was due for a bounce. Even after last week's run, the shares are still trading for just more than half of what they were in their February peak.

Ariad Pharmaceuticals rose after favorable data came out on its potential cancer treatment. Ariad's ridaforolimus -- an experimental pill-based drug -- apparently preserved the benefits of chemotherapy to extend the lives of sarcoma sufferers. Ariad and marketing partner Merck (NYSE: MRK) plan to push for the treatment's approval this year.

Zion Oil and Gas spewed 18% higher last week. Options activity spiked after the Israeli oil and gas explorer declared a rights offering. The volatile shares have been known to move on positive drilling updates or buyout speculation.

Ebix had a rare weekly gain after the enterprise software specialist for the insurance industry announced that it has repurchased more than a million shares over the past three months. There has also been some welcome insider buying lately. Ebix plans to ask its board to approve an even larger buyback plan once the current one is completed.

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.

The Motley Fool owns shares of Gramercy Capital and Ebix. Motley Fool newsletter services have recommended buying shares of Ebix. Try any of our Foolish newsletter services free for 30 days. We Fools may not 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.

Longtime Fool contributor Rick Munarriz enjoys cheering on winners and whispering words of encouragement to the losers. He does not own shares in any of the companies in this story, except for Ebix. He is also part of the Rule Breakers newsletter research team, seeking out tomorrow's ultimate growth stocks a day early.