Last Week's Biggest Stock Movers: Sina Sings, Caesars Sinks
Let's go over some of last week's best and worst performers.
Immunogen (IMGN) -- Up 64 percent last week
Nasdaq's biggest gainer last week was Immunogen, taking off after a favorable report. Immunogen announced upbeat data on its ovarian cancer drug candidate at the annual American Society of Clinical Oncology meeting. Immonugen's mirvetuximab soravtansine is currently in the second of three clinical trial stages, but a recent test showed a positive response rate with a little more than half of the patients that had been resistant to other drugs on the market.
Sina (SINA) -- Up 38 percent last week
One Chinese CEO is putting his money where his mouth is. Sina shares rallied after its CEO announced plans to buy 11 million shares in a $456 million transaction. Paying $41.49 a share for the 11 million shares was a slight premium to the going price when it was announced Monday, but it's a huge bargain after the 38 percent pop.
Zoe's Kitchen (ZOES) -- Up 15 percent last week
A better-than-expected quarterly report sent shares of the Mediterranean restaurant chain higher. Zoe's Kitchen saw its revenue soar 36 percent over the prior year's quarter, fueled by brisk expansion and a robust 7.7 percent spike in comparable-restaurant sales.
However, the bigger surprise came on the bottom line where Zoe's produced a quarterly profit. Analysts were holding out for a modest quarterly deficit. Zoe's has fared well since going public at $15 just 14 months ago. The stock has now gone on to more than double.
Caesars Entertainment (CZR) -- Down 32 percent last week
Nasdaq's biggest decliner was Caesars, losing nearly a third of its value after a judge ruled in favor of creditors that are trying to collect from the casino operator based on a subsidiary's bankruptcy. Caesars has struggled as a leveraged casino operator, and naturally it's not in a position to take on more creditor claims.
Zumiez (ZUMZ) -- Down 20 percent last week
West Coast-themed mall retailer Zumiez wiped out after posting a sloppy quarter. Zumiez's fiscal first quarter wasn't pretty, but it was the outlook for its current quarter that ultimately slammed the stock. Zumiez is now targeting between $179 million and $183 million in sales for the period, well short of the $193 million that Wall Street was forecasting. Things get uglier on the bottom line, where Zumiez expects to earn roughly half as much as analysts were projecting.
Vera Bradley (VRA) -- Down 17 percent last week
Finally we have Vera Bradley heading lower after a weak quarterly report. The seller of colorful luggage and other accessories slipped after posting a year-over-year decline in revenue. Adjusted earnings fell short of expectations for the second quarter in a row. Several analysts lowered their ratings and/or their price targets following the problematic report.
Motley Fool contributor Rick Munarriz has no position in any stocks mentioned. The Motley Fool recommends ImmunoGen, Sina and Zoe's Kitchen. The Motley Fool owns shares of Zoe's Kitchen. The Motley Fool is short Caesars Entertainment. Try any of our Foolish newsletter services free for 30 days. Check out our free report on one great stock to buy for 2015 and beyond.