It was a rough week for the financial markets. The Dow Jones Industrial Average fell more than 200 points. The S&P 500 dropped 1.6%. And gold dipped below $1,600 an ounce for the first time in months.
Here are three stocks that bucked the trend and made big gains in a week plagued by uncertainty on the market:
- Zoll Medical Corp. (Nasdaq: ZOLL): Thursday was the big day for this medical device maker. Shares rose 36% yesterday – and 32% for the week – on news that Medicare will not be reducing its reimbursement payments for the Zoll’s LifeVest defibrillator product as previously speculated. As a result, the stock returned to its $60 a share level that it had seen in early August before the Medicare reimbursement rumors surfaced.
- Synovis Life Technologies (Nasdaq: SYNO): The stock is trading near its 52-week high after rising 56% this week. A medical device company that develops mechanical and biological products used in soft tissue repair, Synovis Life has been growing its revenues, cash flow from operations and earnings per share. It closed the week at $27.91 a share – a shade under its 52-week high of $27.97.
- The McClatchy Company (NYSE: MNI): This publishing company’s stock continued its December rise with a 26% gain this week. The penny stock closed the week at $2.20 a share – nearly twice the $1.14 a share it started the month at. Improving advertising revenue over the last three months has been a big reason for McClatchy’s upswing.