Last week, large companies such as Amazon (AMZN), Netflix (NFLX), Procter & Gamble (PG), Ericsson (ERIC) and the New York Times (NYT) published a third quarter earnings report missing expectations. The Fed maintained the scale of QE3. U.S. stocks were mixed and volatile last week, the Dow fell 1.77%, Nasdaq added 0.59% and the S&P 500 index dropped 1.48%. The five stocks below were the best performers in the U.S. stock market last week. Have a look at these weekly best stocks and find what promoted them.
MGT Capital Investments, Inc. (MGT), together with its subsidiaries, operates as a medical technology company focusing on medical imaging software development and medical hardware devices. MGT Capital Investments on Monday announced that it has entered into two agreements with various institutional investors providing $5.9 million of capital in support of the Company’s strategy to monetize intellectual property. On the back of this news, the stock price of MGT cumulatively rose 118.0% to $6.65 last week, ranked as the bellwether of the best stocks last week. The current MGT stock price is 407.63% above its 52-week low of $1.31 and 5% off its 52-week high of $7.00. MGT is standing 45.83% and 222.82% ahead of its 50-day and 200-day moving averages, which are $4.93 and $2.06, respectively. The company’s market capitalization is $16.26 million.
The second of the best stocks last week was Spartech Corporation (SEH), an intermediary processor of engineered thermoplastics, polymeric compounds and concentrates. The company on Wednesday morning announced that it agreed to be acquired by PolyOne Corp. (POL) for almost $393 million in cash and stock. Following this good news, SHE stock climbed 64.3% to finish at $8.46 last week. The current SEH stock price is 148.82% higher than the 52-week low of $3.40 and 2.76% lower than the 52-week high of $8.70. SEH is standing 52.43% above its 50-day moving average of $5.55 and 63.01% ahead of its 200-day moving average of $5.19. Spartech currently has a market capitalization of $260.52 million.
Another merger target also appeared on the list of best stocks last week, Annapolis Bancorp, Inc. (ANNB), the holding company of BankAnnapolis, announced after the market close on Monday that it has agreed to be acquired by F.N.B. Corp. (FNB) for approximately $51 million, or $12.09 per share, sending its stock price to surge 48.1% to $11.73 last week. FNB is moving 224.93% ahead of its 52-week low of $3.61 and 2.09% lagging behind its 52-week high of $11.98. The current FNB stock price is standing 157.24% above the 50-day moving average of $4.56 and 186.80% above the 200-day moving average of $4.09. The market capitalization of the company is $46.63 million.
Overstock.com, Inc. (OSTK) cumulatively rose 39.5% last week, on the back that the online retailer reported its revenue of $255.4 million, 7% higher than the same period of the prior year. Net income came in at $11 cents per share versus a net loss of 33 cents a year ago. Gross margin advanced from 16% a year ago to the current 18.2%. OSTK stock price has a 52-week range of $4.97 to $15.56, and is 211.67% above the low and 0.45% off the high. OSTK stock price is topping its 50-day moving average of $10.06 by 53.98% and 200-day moving average of $7.45 by 107.92%. Overstock.com has a market cap of $363.20 million.
Chelsea Therapeutics International Ltd. (CHTP) is a development stage pharmaceutical company engaged in the treatment of symptomatic neurogenic orthostatic hypotension (NOH).The stock came in as one of the best stocks last week with a weekly gain of 37.8% after positive Seeking Alpha articles. Another good news is that the FDA is considering a faster pathway for obesity treatments, life-saving antibiotics and other drugs deemed to offer societal benefit, under which, the FDA would allow developers such as Chelsea Therapeutics International to conduct smaller, faster clinical trial, and provide a “special medical use” label which would allow doctors to administer drugs to patients with critical need. The current CHTP stock price is 165.71% higher than the 52-week low of $0.70 and 67.60% lower than the 52-week high of $5.74. CHTP is standing 52.46% above its 50-day moving average of $1.22 and 12.26% below its 200-day moving average of $2.12.