Apple Shares Hit Brand New Price High Along With Coach and W.R. Grace

Apple Inc. (NASDAQ:AAPL): In the final quarter of 2011, Apple (NASDAQ:AAPL) sold a record 37M iPhones worldwide, besting devices using Google’s Android operating system, and ending speculation that demand might be eroded, reports Bloomberg. Of the 9.4M devices activated by AT&T (NYSE:T), 7.6M were iPhones. Verizon Wireless (VZ, VOD) said 56% of its 7.7M smartphones were iPhones. Samsung was second in shipments. The shares closed at $456.48, up $3.47 or 0.77% on the day. They have traded in a 52-week range of $310.50 to $454.45.

Coach (NYSE:COH): Demand for high-end handbags and accessories remained robust throughout the holidays and into 2012. Coach’s (NYSE:COH) strategy to enhance China stores, and their men’s fashions is paying off. China revenue is projected to reach $300M in FY12. The men’s business may increase to $1B in 3-5 years, Barron’s reports. An analyst at International Strategy & Investment Group sees the shares rising as high as $80 over the next year. The shares closed at $70.05, up $1.54 or 2.25% on the day. They have traded in a 52-week range of $45.70 to $70.00.

W.R. Grace & Company (NYSE:GRA): W.R. Grace & Co. announced that the U.S. District Court for the District of Delaware has denied all objections and confirmed Grace’s Plan of Reorganization in its entirety. The Bankruptcy Court decision approving the Joint Plan was issued on January 31, 2011. Grace filed for Chapter 11 protection on April 2, 2001. The Joint Plan establishes two asbestos trusts to compensate personal injury claimants and property owners. Funds for the trusts will come from a variety of sources including cash, warrants to purchase Grace common stock, deferred payment obligations, insurance proceeds and payments from certain third parties. The trusts’ assets and operations are designed to cover all current and future asbestos claims. The shares closed at $53.54, up $0.7 or 1.32% on the day. They have traded in a 52-week range of $30.25 to $53.32.

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com