This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

52-Week Stock Highs: Oracle, Qwest

NEW YORK ( TheStreet) -- A wealth of healthy buying in recent weeks led a wide variety of blue chips to hit fresh 52-week highs on Friday, including Dow Jones industrial average components Kraft Foods (KFT), Caterpillar (CAT - Get Report) and Du Pont (DD).

Jim Cramer told the viewers of his "Mad Money" TV show Wednesday the 52-week high list tells us everything we need to know about the market -- though it's not the number of companies hitting 52-week highs that's important, it's the number of industries represented on the list.

>>Cramer's 'Mad Money' Recap: 52-Week High Breakout

Cramer explained that just a month ago, there were only three industries on the list, and they represented people's fears of the market. But today, there are an astounding 25 different industries on the list, a diverse swath of our economy.

Ranked by volume, the most heavily-traded stock to hit a fresh 52-week high Friday was Oracle (ORCL - Get Report), rising to $27.38 in early-afternoon trading.

The database giant, which recently recruited ousted Hewlett-Packard( HPQ ) CEO Mark Hurd, got plenty of investor love following strong first-quarter results.The company's software business grew "strongly" in all regions, according to Oracle, which said that its Exadata database machine continued to win new customers.

A number of research firms, including Barclays Capital, Caris, RBC Capital Markets and FBR Capital raised their price targets on Oracle shares.

Communications firm Qwest Communications (Q - Get Report) rose to a fresh 52-week high of $6.24 on Friday, after hitting an annual high of $6.10 on Thursday. Analysts at Goldman Sachs upgraded Qwest to buy with a price target of $7 per share, noting that it is positioned well to exceed cash flow targets.
1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
BMY $67.50 0.00%
CAT $83.15 0.00%
EXPE $106.50 0.00%
ORCL $40.15 0.00%
Q $72.62 0.00%

Markets

DOW 17,683.58 -46.53 -0.26%
S&P 500 2,068.76 -8.02 -0.39%
NASDAQ 4,991.94 -17.2740 -0.34%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs