Despite Sell-Off, Some Techs on 52-Week Highs (ARUN, ELOY, PWRD, STAR)

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By Douglas A. McIntyre Updated Published

There is an interesting line-up of tech stocks which hit 52-week highs today.  This is despite the wave of selling and profit taking we have seen.  We saw several hit highs on an intra-day basis, including Aruba Networks, Inc. (NASDAQ: ARUN), eLayalty Corporation (NASDAQ: ELOY), Perfect World Co., Ltd. (NASDAQ: PWRD), and Starent Networks, Corp. (NASDAQ: STAR).

Aruba Networks, Inc. (NASDAQ: ARUN) continued its surge on security launches as shares hit north of $8.00 briefly today.  The close was $7.75 and the old 52-week high was $7.85.

eLoyalty Corporation (NASDAQ: ELOY) rose another 5% to $8.31 today, but this was not above the full 52-week lows after backing off of highs.  The old high was $8.50 and it hit $8.65 today.  Consulting and managed services for behavioral management and integrated contact solutions must be in demand.

Perfect World Co., Ltd. (NASDAQ: PWRD) a hit 52-week high very briefly today at $30.01, topping  the old 52-week high of $30.00.  Shares closed up 3% at $29.83 on the day.  This came on the heels of Citigroup raising its target to $36.00.

Starent Networks, Corp. (NASDAQ: STAR) closed up almost 3% at $23.99 today, above the old 52-week trading range of $7.30 to $23.69. This looks like follow-on buying from yesterday’s KDDI contract in Japan and from last week.  Despite many stocks being way down, this one is up $3.00 from lows over the last 5-day period.

Jon C. Ogg
June 23, 2009

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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