Although we don't believe in timing the market or panicking over daily movements, we do like to keep an eye on market changes -- just in case they're material to our investing thesis.
Stocks closed out the week on a high note, as several major market indexes approached key levels. The Dow finished just shy of 16,000, while the S&P 500 closed just a couple of points away from 1,800, and the Nasdaq is approaching the 4,000 level for the first time in more than a decade. Yet Youku Tudou (NYSE: YOKU), Cadence Pharmaceuticals (NASDAQ: CADX), and voxeljet (VJET -10.81%) all outdid the broader market's performance with gains of more than 10% each. Let's look more closely at these stocks to see why they soared today.
Youku Tudou picked up 11% after releasing a strong set of third-quarter results and favorable guidance for its fourth quarter. The company saw a jump in average daily video views to more than 300 million, helping push overall revenue up 14% and push the Chinese video giant to within a penny per share of breaking even. Moreover, with Youku expecting to become profitable next quarter on much stronger sales growth, investors have high expectations from the company for the rest of the year.
Cadence Pharmaceuticals soared 34%, as it got a favorable ruling from a federal court in Delaware affirming the validity of patents on its Ofirmev injectable acetaminophen drug in a lawsuit against rival Exela Pharma Sciences. The court's finding of infringement could give Cadence another eight years of patent protection for Ofirmev, which is rapidly becoming a blockbuster product for Cadence and could support much further growth in the future.
Extending its run of success this week, voxeljet added another 13% today. The company reported its quarterly results, noting much better sales of its large-format industrial 3-D printers that contributed to a 77% rise in total revenue. With the company sporting some unique advantages over other players in the space, voxeljet has plenty of room to keep growing in the future.
