What's better than momentum? Mo' momentum.
Let's take a closer look at five of this past week's biggest scorchers.
|
Company |
Aug. 17 Close |
Weekly Gain |
My Watchlist |
|---|---|---|---|
|
FSI International |
$6.19 |
53% |
|
|
Alexza Pharmaceuticals |
$4.00 |
35% |
|
|
GT Advanced Technologies |
$6.55 |
23% |
|
|
Michael Kors |
$52.09 |
23% |
|
|
Sears Holdings |
$59.49 |
16% |
Source: Barron's.
FSI International is turning Japanese. I really think so. Tokyo Electron swooped in with a deal to acquire the company at $6.20 a share. The $252.5 million deal represents a nearly 54% premium to where FSI shares had closed, and it made up nearly all of that difference on the week.
Alexza soared after JMP Securities reiterated its outperform rating on the stock. Even after last week's 35% ascent, the stock would still have to triple to reach JMP's price target of $12 on the biotech.
GT Advanced Technologies moved higher after a Canaccord Genuity analyst upgrade. The analyst sees the producer of specialty materials for solar and LED industries possibly making a splash in the smartphone market.
Michael Kors was the biggest winner on the New York Stock Exchange last week, moving 23% higher after posting blowout quarterly results. The upscale retailer's robust 71% surge in sales helped attract buyers to the stock.
Finally, we have Sears. The parent company of Kmart and Sears is still seeing its net sales decline but the market was impressed by the retailer's ability to post a narrower deficit. It's all relative on Wall Street.
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.
