What should you make of Danaher and Starbucks as these stocks touch new 52-week highs?Danaher
“Shares of Danaher hit an all-time high on Monday,” explains trader Mike Murphy. “It’s moved from the 40’s up into the high 50’s now.”And Murphy thinks the action is very positive, not only for the company but for the economy as a whole.“This is a big multi-industrial and (the price action) is a great read through for the entire US economy,” he says. “I read the move as sign that end industrial consumers are ordering and the US economy is in good shape.”Starbucks
Starbucks also made a new high on Monday. “CEO Howard Schlutz knows what he’s doing,” says trade Joe Terranova. With Starbucks planning a big push in China, Joe T. expects gains to continue. “I’d trade it long against $54.62- last week’s low,” he says.
RetailElsewhere in the market, the traders were taking a look at retail after JPMorgan upgraded Kohls from Underweight to Neutral; also JPMorgan said near-term sales trends at J.C. Penney may be softer than expected.Page 1 of 4 | Next Page