Apple Inc Among Top Stocks Reaching New Price Height Today
A GE pilot program allowing employees to choose their own PCs has resulted in over 1,000 of them using Macs. according to Apple Inc. (NASDAQ:AAPL), making GE the latest Fortune 500 company to embrace Apple’s hardware. Apple spokesperson Forrester expects Mac and iPad sales to enterprises to increase 58% in 2012, aided by the IT world’s “bring your own device” trend. Having traded in a 52-week range of $310.50 to $427.75, shares closed at $429.11, up $4.41 or 1.04% on the day.
PayPal (NASDAQ:EBAY) shares closed at $44.88, up $1.14 or 2.61% on the day, having traded in a 52-week range of $28.13 to $43.96. The company is set this week to expand a trial point of sale payment system with Home Depot (NYSE:HD), expecting to have it in place in all HD stores by March. Customers using the system will be able to make payment with or without a card. A PayPal spokesman commented that “It needs to reach scale very quickly, This won’t catch on … until it’s ubiquitous.”
Kraft Foods Inc. (NYSE:KFT) shares closed at $38.72, up $0.59 or 1.55% on the day, having traded in a 52-week range of $30.21 to $38.53. UBS calls for higher earnings estimates from Kraft in 2012 and 2013, and maintains its Buy rating on the company. Subsequent to a sum of the parts valuation that comes out high, UBS analysts call Kraft its ” top pick” in packaged food.
Lowe’s Companies (NYSE:LOW) shares closed at $27.46, up $0.66 or 2.46% on the day, after having been traded in a 52-week range of $18.07 to $27.45. The 2012 housing rebound play might be getting crowded, even at this early date. Bigger winners include building materials firms, USG +42.5%, PATK +50% YTD, and the fact that most of these stocks are higher off of very low bases argues for an even larger run.
Mcdonald’s Corp. (NYSE:MCD) shares closed at $101.56, up $1.01 or 1% on the day, trading in a 52-week range of $72.89 to $101.59. This is based on its positive survey of MCD franchisees, and from Janney upgrading its global forecast for revenue to 9.1% same-store sales growth in the U.S., 8.5% in Europe, and 7.5% for the Asia/Pacific/Middle East/Africa region.