There are some rather interesting stocks hitting 52-week highs today. Some may seem obvious, while others may seem as though they are from left field.
American Dairy (NYSE: ADY) is continuing its mystery run. We featured this over the weekend with stocks up on a crummy week. The producer and distributor of premium infant formula, milk powder and soybean, rice and walnut products in China was up 62% last week and up 250% from lows, and today’s $31.00 high marks another record.
3Com Corporation (NASDAQ: COMS) hit $4.20 today, above its prior 52-week high of $4.18. We are back to around some of the levels where the Chinese and private equity buyout fell through.
Cubic Corporation (NYSE: CUB) designs, develops, and manufactures defense electronics and transportation fare collection systems. Its last award was only $5 million. Shares hit $35.50 today, above the 52-week range of $17.03 to $35.22.
Diedrich Coffee Inc. (NASDAQ: DDRX) continued its surge from last week’s winners on a down week by hitting $15.00 at one point today (52-week range is $0.21 to $13.55). As noted over the weekend: Diedrich Coffee Inc. (NASDAQ: DDRX) is coming back from the dead. Shares were only up 2.7% to $12.91 Friday, but this was up 30% from the prior Friday. You better be sitting down when we tell you this. Diedrich was a $0.42 stock at the end of March. The company has completed its transition to a premier coffee roaster and wholesaler that recently sold its Gloria Jean’s franchise operations. This is enough to make a man cry, but this stock is up over 30-fold since the end of March.
Loral Space & Communications, Inc. (NASDAQ: LORL) has come way back from the shadows and was already on highs last week. This 3% gain to $32.,33 today follows a 22% for the week and a bigger gain of 150% over the last two months.
Medifast Inc. (NYSE: MED) is in the field of weight management and disease management products and is up on no real news today. The $9.50+ prints today are compared to a 52-week range of $3.35 to $9.08.
Nektar Therapeutics (NASDAQ: NKTR) is continuing last week’s gain on a partners key news on a rheumatoid arthritis FDA approval. After hitting $6.76 today, its prior 52-week range was $2.45 to $6.59.
OncoGenex Pharmaceuticals Inc. (NASDAQ: OGXI) is continuing its cancer and pre-ASCO surge. Shares hit $11.33 today, and its 52-week trading range is $2.00 to $9.49.
Palm, Inc, (NASDAQ: PALM) must truly be back from the dead, and it has not even released that Palm Pre touch-screen smartphone yet. After hitting $12.05, that is above its 52-week range of $1.14 to $11.80.
Quality Systems, Inc. (NASDAQ: QSII) is up ahead of two presentations this week and today’s $60.00 print is above the prior $25.70 to $57.68 trading range of the last year.
STEC, Inc. (NASDAQ: STEC) was winner last week on solid earnings from solid state drives, and its pact with Fujitsu announced this morning is only helping more. After a gain of more than 5% today to $15.31, its old range was $3.42 to $14.48.
JON C. OGG
MAY 18, 2009