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We had a lot of big names trading up to new 52 week highs again today. The overall markets were pretty flat, with the DOW closing the day down 0.14%, the NASDAQ closing the day's trading up 0.04%, and the S&P ending the day a bit lower to finish today's trading down 0.28%.Here are a few of the names that moved higher during the day to set new 52 week highs.
- Starent Networks Corp. (NASDAQ: STAR): Starent was up sharply today following news that the company would be acquired by Cisco Systems (NASDAQ: CSCO). At one point, STAR rose as high as $34.75 before closing the day up 16.8% at $33.92, up $4.88. Cisco announced that they would be buying the company for $35 a share. CSCO stock closed the day up 0.28% at $23.85, up $0.06.
- Goldcorp Inc. (NYSE: GG): Goldcorp rose to a new 52 week high today on the back of rising gold prices which have been benefiting from a weak U.S. dollar. Goldcorp rose as high as $43.40 before closing out the day up 1.5% to $42.88.
- Pier 1 Imports (NYSE: PIR): Pier 1 rose to a new 52 week high today after the company released very strong September same store sales yesterday. The company announced that September same store sales were up 9.9%. The stock set a new 52 week high today of $5.40 and ended the day's trading session up 10% to $4.85, up $0.44.
- eBay, Inc. (NASDAQ: EBAY): Online auctioneer eBay traded up to new 52 week high today, with the stock receiving multiple price target increases. Goldman Sachs (NYSE: GS) raised its price target on the stock to $25 from $20, while Jefferies Group (NYSE: JEF) boosted its price target to $32 from $30. The stock traded up as high as $25.37 before closing the session up 1.6% at $25.18, up $$0.40.
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