Schaeffer's Trading Floor Blog

Highs & Lows: Amylin Pharmaceuticals, Colgate-Palmolive, and Ericsson

AMLN, ARIA, and CL tagged new annual highs, while ERIC, EXPD, and HES dropped to new annual lows

by 5/15/2012 2:24 PM
Stocks quoted in this article:

As Wall Street continues to chew on the developing political drama in Greece, stocks are wavering around breakeven this afternoon. Despite a couple of upbeat domestic economic reports, new annual lows are easily outnumbering new annual highs. The NYSE tallies 34 annual highs, versus 106 stocks in annual-low territory. Over on the Nasdaq, there are 28 fresh lows and 82 highs. Among the stocks hitting notable technical milestones in today's trading are Amylin Pharmaceuticals, Inc. (AMLN), Colgate-Palmolive Company (CL), and Ericsson (ERIC).

Notable Stocks at Annual Highs

  • Amylin Pharmaceuticals, Inc. (AMLN - 27.14) touched the $27.40 mark today -- its best price since August 2008 -- after a Bloomberg report suggested that several companies are targeting the drug maker for a possible takeover. Over the past 52 weeks, the stock has soared an extraordinary 97.8%, while its Relative Strength Index (RSI) stands at 63. But most analysts are skeptical toward AMLN, as just 27% of brokerage firms have doled out a "buy."

  • Earlier today, Ariad Pharamaceuticals, Inc. (ARIA - 17.17) leapt to a 12-year high of $17.42. Heading into today's session, ARIA was looking to amplify its impressive year-long ascent of 89.6%. The stock's RSI resides at 62, while 13 out of 15 analysts have deemed it worthy of a "buy" endorsement.

  • On the heels of an upgrade to "buy" from "hold" at Argus, Colgate-Palmolive Company (CL - 101.51) pushed as far north as $101.82, notching a new all-time peak. The shares have advanced 15.2% during the past 52 weeks, and CL's RSI arrives at a middling 56. With only seven out of 22 analysts handing out a "buy" or better rating on the consumer product company, there could be a few more upgrades going forward.

Notable Stocks at Annual Lows

  • Swiss telecom firm Ericsson (ERIC - 8.54) has retreated this afternoon, sinking to a three-year low of $8.52. The equity has pulled back 42% over the past year, and its RSI of 36 is verging on oversold territory. Few analysts are betting bullishly on ERIC, though, as the shares have garnered just three "strong buys" out of 13 recommendations.

  • Expeditors International of Washington, Inc. (EXPD - 38.17) plummeted to its worst price since July 2010, bottoming out at the $37.97 mark. On a year-over-year basis, the stock has drifted 26.9% lower, and its RSI sits at a slim 29. Of the 14 brokerages following the delivery business, only 36% consider it a "buy."

  • Hess Corporation (HES - 45.86) dropped to a three-year low of $45.69, exacerbating its 37.5% 52-week deficit. HES' RSI currently stands at just 26, and a fresh bout of downgrades could apply additional selling pressure. Despite the stock's overall downtrend, eight out of 14 analysts still maintain "buy" ratings.

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