King, Donaldson Lead High-Flying Stocks

BOSTON (TheStreet) -- Major U.S. indices fell sharply yesterday, but several stocks hit 52-week highs.

5. Canadian Solar(CSIQ Quote) rose 3.9% to $21.42. On Tuesday, the solar-panel maker's third-quarter earnings beat the average estimates of analysts by 15 cents. Yesterday, the shares got a boost after competitor Trina Solar(TSL Quote) beat earnings expectations.

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Our take: Canadian Solar's third-quarter net income more than doubled to $25 million, or 69 cents a share, from a year earlier as shipments hit a record. Its vertically-integrated business model has helped it achieve higher margins than those of peers. Canadian Solar benefitted from increased sales in Europe. The company's shares have more than tripled this year.