NEW YORK (
) -- 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
(CAT - Get Report)
Jim Cramer told the viewers of his
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
(ORCL - Get Report)
, rising to $27.38 in early-afternoon trading.
The database giant, which recently
recruited ousted Hewlett-Packard(
) 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.
(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.