What's better than momentum? Mo' momentum. Let's take a closer look at five of this past week's biggest scorchers.
Let's start with Power-One. The inverter maker soared after receiving a buyout offer from electrical component maker ABB. The proposed $1 billion deal would take Power-One investors out at $6.35 a share in cash. Remember when solar energy was dead? Now it seems as if companies want some skin in the alternative-energy space.
Fusion-io took off after posting better-than-expected financial results. The company's deficit of $0.03 a share on $87.7 million in revenue easily surpasses analyst projections calling for a loss of $0.07 a share on $80.5 million in revenue. Fusion-io also announced an acquisition that will improve its positioning in small to medium enterprise market.
VirnetX, the patent-rich provider of Internet security software and technology solutions, moved higher after filing a new complaint against Microsoft. VirnetX alleges that Skype infringes on six of VirnetX's patents. Mr. Softy did sign a limited license with VirnetX before acquiring Skype, but VirnetX contends that infringement falls outside of the original license's scope.
Glu Mobile moved higher after bringing in a new monetization chief and making a few other executive moves. The maker of free-to-play apps also announced the availability of Contract Killer Zombies 2 for Macs. Glu Mobile will report earnings on Wednesday.
Finally, TriQuint posted double-digit percentage gains despite coming up short in its latest quarter. TriQuint's loss was wider than Wall Street was targeting, but the provider of radio frequency solutions wooed buyers by sticking to its earlier forecast of turning profitable by the latter half of this year. The swagger was enough to get Raymond James to upgrade the stock.
The article 5 of Last Week's Biggest Winners originally appeared on Fool.com.
Longtime Fool contributor Rick Munarriz has no position in any stocks mentioned. The Motley Fool owns shares of Microsoft, Power-One, and TriQuint Semiconductor. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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.
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