What's better than momentum? Mo' momentum.
Let's take a closer look at five of this past week's biggest scorchers.
|
Company |
April 13 |
Weekly Gain |
My Watchlist |
|---|---|---|---|
|
AOL |
$25.79 | 40% | Add |
|
Renren |
$7.33 | 34% | Add |
|
Titan Machinery |
$36.00 | 32% | Add |
|
Travelzoo |
$27.35 | 27% | Add |
|
MIPS Technologies |
$6.31 | 20% | Add |
Source: Barron's.
AOL was last week's biggest winner after agreeing to sell roughly 800 of its more than 1,100 patents in a $1.056 billion deal. The company behind America Online and various other online properties had an enterprise value of less than $1.5 billion before the sale was announced, so investors rushed in given the undervalued situation.
Renren had a strong week after announcing partnerships with Intel and Japan's SnapDish. Renren operates China's leading real-name social networking website.
Titan Machinery is proving that heavy equipment can move fast under the right circumstances. The network of dealerships selling agricultural and construction equipment delivered blowout earnings. Analysts were only expecting a quarterly profit of $0.53 a share out of Titan, but the company delivered net income of $0.84 a share.
Travelzoo began rattling the cages after a Reuters report leaned on three different sources claiming that the travel deals publishers is hiring a financial advisor to explore a sale of the company. Travelzoo reports its quarterly results on Thursday morning, so expect some more color with the situation.
Finally, MIPS Technologies climbed higher after the chip company moved to explore strategic alternatives, which naturally may also include a sale of the company.
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.
