Enterprise Products Pipes with Oil Giants, Home Depot Develops Business with Pay Pal
A lot of news helped propel some hot stocks to new 52 week highs. Here’s some of the most important shares to watch.
Enterprise Products (NYSE:EPD) and Genesis Energy (NYSE:GEL) announced that they have executed crude oil transportation agreements with a consortium of six Gulf of Mexico producers which will provide the necessary support for construction of a new crude oil gathering pipeline serving the Lucius development area in southern Keathley Canyon. The producer group is comprised of Anadarko U.S. Offshore (NYSE:APC), Apache Deepwater Development (NYSE:APA), Exxon Mobil (NYSE:XOM), Eni Petroleum US (NYSE:E), Petrobras America (NYSE:PBR), and Plains Offshore Operations. Enterprise Products shares closed at $47.99, down $0.06 or 0.12% on the day. They have traded in a 52-week range of $36.00 to $48.25.
Home Depot (NYSE:HD): eBay’s (NASDAQ:EBAY) PayPal unit is trialing a payment service with Home Depot that allows customers to check out using their PayPal accounts. Webush’s Gil Luria thinks large-scale adoption by Home Depot “would increase PayPal’s addressable market by about 35%.” The Home Depot trial covers one of multiple offline payment solutions PayPal introduced in September. PayPal is also testing out NFC technology. Home Depot shares closed at $43.20, up $0.11 or 0.26% on the day. They have traded in a 52-week range of $28.13 to $43.30.
This week, Goldman Sachs added Alexion Pharmaceutic (NASDAQ:ALXN) Biotechnology 2012 Top Picks. Shares closed at $74.45, up $2.04 or 2.82% on the day. They have traded in a 52-week range of $40.57 to $74.68.
American Tower Corp. (NYSE:AMT) was initiated with an Outperform at Wedbush. The firm added a price target $70. The shares closed at $60.25, down $0.1 or 0.17% on the day. They have traded in a 52-week range of $45.85 to $60.93.
Apollo Group (NASDAQ:APOL): Apollo Group’s first growth in new enrollments in at least a year shoots shares higher and propels other major for-profit education companies. The shares closed at $56.64, up $2.92 or 5.44% on the day. They have traded in a 52-week range of $34.43 to $57.09.