What’s better than momentum? Mo’ momentum. Let’s take a closer look at five of this past week’s biggest scorchers.
| Company | July 26 | Weekly Gain |
|---|---|---|
| Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) | $7.30 | 41% |
| Facebook Inc (NASDAQ:FB) | $34.01 | 31% |
| Baidu.com, Inc. (ADR) (NASDAQ:BIDU) | $127.56 | 15% |
| Cliffs Natural Resources Inc (NYSE:CLF) | $19.71 | 11% |
| Questcor Pharmaceuticals Inc (NASDAQ:QCOR) | $50.37 | 10% |
Source: Barron’s.
Let’s start with Himax Technologies, Inc. (ADR) (NASDAQ:HIMX), which soared after Google Inc (NASDAQ:GOOG) moved to take a small stake in the Taiwanese chipmaker’s majority-owned display subsidiary. Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) had risen in the past on the high probability that the subsidiary’s liquid crystal silicon chips would be a component in Google Inc (NASDAQ:GOOG) Glass as the high-tech specs go into mainstream production. This deal — with Big G taking a 6.3% position that can escalate to 14.8% within the next year — both cements the relationship and signals that the search giant is serious about wearable computing.
Investors have been unsure about Facebook Inc (NASDAQ:FB)’s ability to cash in on the trend that’s moving to consumption on smaller screens. However, the revenue’s coming in. Facebook Inc (NASDAQ:FB) also claims that users aren’t complaining, arguing that engagement rates are increasing.
China’s leading search engine keeps moving higher. Baidu.com, Inc. (ADR) (NASDAQ:BIDU) came through with yet another 15% gain this week after posting strong quarterly results.
The revived dot-com giant popped 15% higher last week after announcing a $1.9 billion deal to improve its prospects in mobile. This time around it was market-thumping results and guidance that translateed into accelerating revenue growth even at the low point of its range.
Cliffs Natural Resources Inc (NYSE:CLF) didn’t leave a lump of coal in shareholders’ stockings this past week. Most of Cliffs Natural Resources Inc (NYSE:CLF)’ gain came on Friday, after the producer of iron ore and metallurgical coal delivered better-than-expected financial results. Revenue of $1.49 billion was just shy of the $1.58 billion it reported a year earlier, and profitability was shaved by more than half to $0.82 a share. However, analysts were holding out for net income of just $0.61 a share on $1.41 billion in revenue. Even warning that it will produce a million tons less in iron sales for the entire fiscal year than it had originally projected wasn’t enough to rain on this parade. Cliffs Natural Resources has been beaten down so badly this year, that mixed news is good news.
Finally, we have Questcor Pharmaceuticals Inc (NASDAQ:QCOR) moving higher. The biotech made its move during the final two trading days of the week, after announcing that it will begin the second phase of clinical trials for its Acthar gel for the treatment of patients with Lou Gehrig’s disease. Questcor Pharmaceuticals Inc (NASDAQ:QCOR) is initiating the patient screening process.
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 has no position in any stocks mentioned. The Motley Fool recommends and owns shares of Baidu, Facebook, and Google.
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