3 Stocks Hitting 5-Year Highs, Despite the Bear Market

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 |  Includes: AVAV, ENG, NTES
by: Everyday Finance

Who's hitting 5 year highs in this 2008 bear market market and why? Watch these stocks in the coming weeks for continued momentum:

AeroVironment, Inc. (AVAV)

  • Manufacturer of unmanned aircraft systems up on news that it has received a $4.6 million federal grant to develop a next-generation small unmanned aircraft system
  • Also in the wind turbine business, which is trendy at the moment (albeit, wind shares off their recent rally highs)
  • Financials looks nice; healthy year over year top and bottom line growth based on cursory review of income statement
  • Up 40% YTD, 80% Year over Year

NetEase.com, Inc. ADR (NTES)

  • Operates an online community in China; derives revenue from online gaming. Web portal, content, etc., similar to what Yahoo offers here (albeit smaller).
  • Recently blew away earnings on stronger than expected performance from its online gaming businesses.
  • Financials looks nice; healthy year over year top and bottom line growth based on cursory review of income statement
  • Up 39% YTD, 87% Year over Year

ENGlobal Corporation (ENG)

  • Serves the energy infrastructure industry.
  • Recently surprised with earnings at 24 cents/share vs. consensus of 16 cents/share.
  • Balance sheet: Strong revenue growth, swung from a loss in 2006 to a strong gain in 2007.
  • Up 50% YTD, 42% Year over Year