52-Week Highs: Apple, Qwest, Baidu
(Updated with additional information and stock price movement.)
NEW YORK (TheStreet) -- A wealth of healthy buying in recent weeks led a variety of blue chips to hit fresh 52-week highs on Monday, including technology darling Apple (AAPL) and Dow Jones industrial average components Caterpillar (CAT), Du Pont (DD) and Kraft Foods (KFT).
Jim Cramer told the viewers of his "Mad Money" TV show last week 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
He 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's an astounding 25 different industries rpresented, a diverse swath of our economy. Ranked by volume, the most heavily-traded stock to hit a fresh 52-week high Monday was L-1 Identity Solutions (ID), holding steady in afternoon trading around $11.65. L-1 Identity, a maker of high-tech recognition and security systems, agreed to be acquired by France's Safran for $12 a share, or $1.6 billion including debt. Qwest Communications rose as high as $6.31 in trading Monday. Shares of Apple rose to a fresh 52-week high of $283.78 on Monday.Select the service that is right for you!
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