What's better than momentum? Mo' momentum.
Let's take a closer look at five of this past week's biggest scorchers.
Focus Media (NAS: FMCN)
McDermott (NYS: MDR)
JinkoSolar (NYS: JKS)
IPG Photonics (NAS: IPGP)
Travelzoo (NAS: TZOO)
Focus Media was one of the previous week's biggest losers, as investors turned on the Chinese advertising giant on fears that China's once booming economy was finally succumbing to the global malaise. The marketing media mogul bounced back nicely last week after beefing up its share repurchasing plans.
McDermott is an engineering and construction company for the offshore oil and gas industry. Its shares popped after oil prices spiked, a move that may not benefit McDermott directly, but it's clearly an incentive for its customers to keep producing.
Things had to get better after a cruel September for JinkoSolar, as general weakening in solar energy demand was compounded by allegations that one of JinkoSolar's plants was polluting a nearby river with toxic waste. Well, President Obama reiterating his commitment to solar energy this week -- coupled with an announcement that JinkoSolar completed the first phase of upgrading its problematic plant -- triggered a bounce that was long overdue.
IPG Photonics surged after an oft-delayed court victory. A Michigan jury ruled that the fiber laser specialist isn't infringing on IMRA America's patent claims. The case had been going on for five years.
Finally, we have Travelzoo shares leaping out of their cages after the travel deals publishers launched an iPhone app for European users. Travelzoo also revealed that its stateside app was downloaded 75,000 times during its first month after its summertime launch.
It was a great week for these five stocks. Now let's see if they're up for an encore.
Which of these five stocks do you think will continue to move higher? Share your thoughts in the comment box below.
At the time thisarticle was published The Motley Fool owns shares of IPG Photonics. Motley Fool newsletter services have recommended buying shares of Travelzoo and IPG Photonics. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.Longtime Fool contributor Rick Munarriz calls them as he sees them. He does not own shares in any of the stocks in this story except for Travelzoo. Rick is also part of theRule Breakersnewsletter research team, seeking out tomorrow's ultimate growth stocks a day early.
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