Concho, Illumina up sharply on Baron's bullish view

|About: Concho Resources Inc. (CXO)|By:, SA News Editor

Concho Resources (CXO +4.6%) continues to push higher after a positive mention by Ron Baron on CNBC before the open as the company he likes best to exploit the U.S. shale boom.

CXO has been aggregating drilling lands, he says, "and once they have this acreage, they're going to be able to be acquisition candidates by the really big oil companies who don't want to do the legwork."

Citing rising U.S. spending on health care, Baron likes Illumina (ILMN +3.6%), which he says is taking advantage of the falling costs of sequencing the genome.