New Highs for Crocs, 3M, American Eagle, and Amazon.com Shares (AMZN, AEO, CROX, MMM)
Today was an incredible day for the bulls, 153 stocks on the NASDAQ and 286 on the NYSE hit new 52-Week Highs including 3M Company (NYSE:MMM), American Eagle (NYSE:AEO), Amazon.com (NASDAQ:AMZN) and even Crocs Inc. (NASDAQ:CROX).
Crocs Inc. (NASDAQ:CROX) has comeback from the dead, hitting $7.83 a share today, all the way from 79 Cents. In 2009 Crocs shares have rallied 533%, penny stock to regaining its market cap to $674 million, very impressive. Last month Crocs Inc. announced it arranged for up to $30 million in revolving loans for working capital, apparently the company is back to stay (for the moment).
Amazon.com (NASDAQ:AMZN) is almost at the $100 level, shares touched $97.78 a feat not done since before the tech bubble crash in 1999. Goldman Sachs (NYSE:GS) raised its price target on Amazon.com shares yesterday to $106, the company can do no wrong at this point. Analysts forecast Amazon's Q3 09 per-share earnings of 33 cents on revenue of $5.02 billion, up from 27 cents and $4.26 billion, the company will report on Oct 22nd.
3M Company (NYSE:MMM) the Post-It note maker hit $76.93 before finishing the day at $76.55. 3M reports Q3 09 earnings next Thursday (Oct 22nd), we'll see if they can keep the momentum.
American Eagle Outfitters (NYSE:AEO) shares peaked at $19.33 today, the company reported that total sales for the five weeks ended October 3, 2009 increased 7% to $246.0 million, compared to $229.2 million for the five weeks ended October 4, 2008. Comparable store sales were flat for the month, compared to a 6% decrease for the same period last year.
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