Apr 10
18
Notwithstanding some of the headlines last week, Southridge Capital focused on the disparities of the number of companies who hit their 52 week high that same day. The Dow fell over 125 points on April 16, 2010, however 218 companies hit their 52 week high, with only 9 companies hitting their 52 week low on the same day according to numbers reported by www.barrons.com. One of the stocks that hit its high on Friday was Praxair Inc. (PX). Praxair produces, sells and distributes atmospheric, process and specialty gases, and high-performance surface coatings. Recent news showed they just installed a unique nitrogen supply system, which will help with large volumes of liquid nitrogen to be delivered, pumped, vaporized and transported for injection into the Kinder Morgan Louisiana Pipeline according to the company’s press release. Another company is Southwest Gas Corp. (SWX), which in a press release dated March 8th noted that they partnered with Altivon to deployed an all-in-one IP-based communications software to improve customer service while increasing operational efficiencies. Lastly Darling International Inc. (DAR) hit its 52 week high on Friday. Darling is the largest publicly traded, food processing by-products recycling company in the United States. Southridge Capital will continue to monitor the winners and losers as the year progresses. Is the market getting ahead of earnings and other realities? Stay tuned.
