The stock market may be hitting lows not seen in more than a decade. What is amazing is that there are actually several companies hitting 52-week highs today. Companies featured are Applied Signal Tech (NASDAQ: APSG), AutoZone Inc. (NYSE: AZO), Enterprise Acquisition Corp. (EST), O’Reilly Automotive (NASDAQ: ORLY), Scopus Video Networks Ltd. (NASDAQ: SCOP), and Trans-India Acquisition Corp. (TIL).
Applied Signal Tech (NASDAQ: APSG) has already backed off of highs considerably, but this hit $20.95 early this morning. Its prior 52-week trading range was $10.73 to $20.79. Intelligence, surveillance, and reconnaissance.
AutoZone Inc. (NYSE: AZO) has again gotten back to new 52-week highs after the retailer and distributor of automotive replacement parts and accessories posted a 9% gain in earnings. Keeping your old car means more repairs. This hit $157.49, and the 52-week range had been $84.66 to $148.50.
Enterprise Acquisition Corp. (EST) is a SPAC which recently terminated a merger with WF Capital Holdings. It will still seek to pursue a business combination with a target business prior to November 7, 2009. This matched its 52-week high of $9.54 on very thin volume.
O’Reilly Automotive (NASDAQ: ORLY) traded as high as $33.88 today, and its prior 52-week trading range was $20.00 to $33.80. The news, look no further than AutoZone….
Scopus Video Networks Ltd. (NASDAQ: SCOP) is a micro-cap that hit the $5.55 high today, and its range had been $2.95 to $5.55. It looks like this may just be an HDTV play as it is involved in digital video networking solutions that enable network operators to offer advanced video services to their subscribers.
Trans-India Acquisition Corp. (TIL) is a bit odd that it would be on highs considering that it is a SPAC which has pursued to liquidate. It hit $8.01 today on thin volume and its 52-week range was $6.95 to $7.96.
JON C. OGG
MARCH 3, 2009