Bristol-Myers, Origin Lead High-Flying Stocks

BOSTON (TheStreet) -- The rally continued yesterday, as the Dow Jones Industrial Average, S&P 500 Index and Nasdaq rose more than 1%. These stocks hit 52-week highs.

5. Origin Agritech(SEED Quote) shares doubled to $10.45. The Chinese seed producer received a Bio-safety Certificate from the Ministry of Agriculture for a genetically modified phytase corn.

Our take: Origin Agritech falls outside our coverage universe, but investors have been aggressively buying its shares. Its fiscal third-quarter revenue decreased 2.8% to $72 million, but gross profit advanced 6% to $22 million, boosted by a lower cost of sales. A 28% drop in operating expenses benefitted the bottom-line. Net income rose 20% to $11 million. Origin Agritech has a beta of 1.7, indicating above-average volatility. A beta of 1 implies perfect market correlation.