What’s better than momentum? Mo’ momentum. Let’s take a closer look at five of this past week’s biggest scorchers.
| Company | Aug. 16 | Weekly Gain |
|---|---|---|
| Digital Generation Inc (NASDAQ:DGIT) | $12.32 | 21% |
| TASER International, Inc. (NASDAQ:TASR) | $10.21 | 18% |
| Novavax, Inc. (NASDAQ:NVAX) | $2.65 | 14% |
| Rite Aid Corporation (NYSE:RAD) | $3.52 | 12% |
| Amarin Corporation plc (ADR) (NASDAQ:AMRN) | $6.00 | 11% |
Source: Barron’s.
Let’s start with Digital Generation Inc (NASDAQ:DGIT). The electronic content-distribution specialist soared 29% a week earlier after posting better-than-expected quarterly results, and it came through with another strong week this time around after announcing an asset sale that will result in a beefy distribution to its stakeholders.
Digital Generation Inc (NASDAQ:DGIT) is selling its television business in a $485 million deal. It will then pay a cash distribution of at least $3 a share after paying off its outstanding debt.
In the end, Digital Generation Inc (NASDAQ:DGIT) will be a leaner company with a cleaner balance sheet as it focuses on its online business.
The company reported on two sizable deployments of the on-officer flex recording devices in Texas. The Fort Worth Police Department received 145 of the AXON flex cameras for its officers, and the DFW International Airport Department of Public Safety distributed 100 of the devices.
TASER International, Inc. (NASDAQ:TASR) also announced that several police departments that are subscribed to TASER International, Inc. (NASDAQ:TASR)’s EVIDENCE.com service renewed the digital evidence managing platform.
Novavax, Inc. (NASDAQ:NVAX) moved on a favorable analyst report. Lazard Capital’s William Tanner boosted his price target from $4 to $11, encouraged by the prospects of Novavax, Inc. (NASDAQ:NVAX)’s respiratory virus vaccine. More than 11 million shares traded on Thursday as the stock popped, making this Novavax, Inc. (NASDAQ:NVAX)’s heaviest day of trading volume in more than two years.
Rite Aid Corporation (NYSE:RAD) hit its highest levels since 2007 after a reasonably favorable comment by CNBC’s Jim Cramer. “Rite Aid Corporation (NYSE:RAD) is back,” he told Mad Money viewers, even though he qualified that remark by pointing out he prefers to invest in the larger drugstore operators
The drugstore chain also got a boost when a regulatory filing showed that billionaire hedge fund manager David Einhorn had acquired 20.2 million shares this past quarter.
Finally, Amarin Corporation plc (ADR) (NASDAQ:AMRN) moved higher. The company behind the high triglyceride-tackling drug Vascepa got a boost on an analyst upgrade. H.C. Wainwright is also slapping an encouraging $10 price target on the shares. That represents 67% in upside, even after last week’s move higher.
Amarin Corporation plc (ADR) (NASDAQ:AMRN) then went on to cap off the week positively after presenting at the Canaccord Genuity 33rd Annual Growth Conference on Thursday afternoon.
The article 5 of Last Week’s Biggest Winners originally appeared on Fool.com and is written by Rick Munarriz.
Longtime Fool contributor Rick Munarriz and The Motley Fool have no position in any of the stocks mentioned.
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