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Stocks gapping higher: PLAB, MKTX |
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BOKF, IPXL, ZAGG. |
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Released on Thursday August 18th, 2011, 8:00 AM ET
Pittsburgh, PA (SpeculatingStocks) - Stocks usually gap higher due to a fundamental material event in between the market close one day and opening bell the next day. It is important to track these stocks that gap higher because some of these types of stocks have reset their fundamental value and can uptrend in the weeks after the gap higher.
Some charts that show a gap higher are more pronounced than others depending on the material event that has occurred to cause a gap higher at the open.
PLAB (Photronics, Inc.) – PLAB is a tech play that produces photographic quartz plates containing microscopic images of electronic circuits, which are used in the manufacture of semiconductors and flat panel displays and other uses. PLAB traded its most volume in over year as it gapped up 28%+ to $7.24 on Wednesday, 8/17. The company generated $0.23 a share for Q3 versus an estimated of $0.19 and revenue came in at $135.9 million versus estimated $131.8 million. PLAB has a 52-week high of $10.15.
MKTX (MarketAxess Holdings, Inc.) – This company’s patented trading technology allows institutional investor clients to request competitive, executable bids, or offers from multiple broker-dealers simultaneously, and to execute trades with the broker-dealer of their choice. The company is said to be exploring a sale. It gapped higher on this development.
BOKF (BOK Financial Corp.) – BOKF is a regional bank that was upgraded from a “hold” to buy” causing it to gap higher on 8/17. Along with the upgrade, the analyst upped their price target on BOKF shares to $56. BOKF is trading at around $47.30.
IPXL (Impax Laboratories, Inc.) – IPXL is working on a drug for Parkinson’s disease. The stock jumped after the company announced positive preliminary results from a Phase III clinical trial for its drug IPX066 in the treatment of the motor symptoms of Parkinson’s disease. IPXL plans to file for US approval of its drug during Q4 2011.
ZAGG (ZAGG Inc.) – This stock has been in a strong uptrend throughout the last year. In September of last year, ZAGG was trading under $4.00 a share and it is now trading at around $15 with a 52-week high at $17.10. ZAGG has been operating in the hot space of protective coverings for consumer electronic and hand-held devices such as for iPods and cell phones.
See new stocks that are gapping higher in our “Stocks Gapping Higher” section within our Stock Buzz page.
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