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Medical Laser Maker Bounces Off 200-Day.(B)(NASDAQ STOCKS IN THE NEWS)
Byline: Craig Shaw
Palomar Medical Technologies posted a bullish reversal week on above-average turnover the week ended Friday. The stock undercut its 200-day support line during the week, but rallied back to close in the upper half of its range. It's tracing a three-month base.
The medical laser maker topped second-quarter earnings views by 2 cents a share Thursday for its second quarter of accelerating profit growth. The firm said a patent infringement settlement helped boost royalty revenue more than fivefold.
Sponsorship grew the past year from 4 mutual funds with 581,000 shares to 16 funds with ...
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