What's better than momentum? Mo' momentum.
Let's take a closer look at five of this past week's biggest scorchers.
ISTA Pharmaceuticals (NAS: ISTA)
Synovis Life Technologies (NAS: SYNO)
Zoll Medical (NAS: ZOLL)
SonoSite (NAS: SONO)
Seaspan (NYS: SSW)
ISTA was the market's biggest gain, soaring on news that it had received -- but rejected -- a hostile buyout bid on behalf of Valeant (NYS: VRX) . Why would the shares climb, even above Valeant's offer to acquire the company at $6.50 a share? Well, investors feel that Valeant may raise its bid now that ISTA is playing hard to get. It's a risky bet for investors, since sometimes "no" really means "no."
There's no such drama for Synovis. It accepted a buyout bid from Baxter (NYS: BAX) that will take out the soft-tissue repair specialist at $28 a share.
Zoll received some welcome news on its LifeVest product. Medicare agreed to continue reimbursing the innovative wearable defibrillator at its current rate.
Fujifilm will be paying $54 a share -- or nearly $1 billion -- for SonoSite. The maker of portable ultrasound machines will give the Japanese film giant welcome exposure in the health-care market.
Seaspan is open for some home cooking. The shipper announced that it would be buying back 10 million shares at $15, a 43% premium to where the stock was trading before the news.
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.
Which of these five stocks do you think will continue to move higher? Share your thoughts in the comments box below.
At the time thisarticle was published The Motley Fool owns shares of Seaspan.Motley Fool newsletter serviceshave recommended buying shares of SonoSite.Motley Fool newsletter serviceshave recommended creating a write covered straddle position in Seaspan. Try any of our Foolish newsletter servicesfree for 30 days. We Fools may not all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. The Motley Fool has adisclosure 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. Rick is also part of theRule Breakersnewsletter research team, seeking out tomorrow's ultimate growth stocks a day early.
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