Home Depot, Genuine Parts, Goodrich, KMP, Macy’s Achieve 52-Week Share Highs

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Home Depot (NYSE:HD): RBC Capital raised Home Depot estimates citing strong Q4 results, conservative 2012 guidance, and improving underlying trends. Shares are Outperform rated. The shares closed at $46.92, up $0.21 or 0.45% on the day. They have traded in a 52-week range of $28.13 to $46.72.

Genuine Parts (NYSE:GPC): CEO Tom Gallagher commented: “We enter 2012 with a continued commitment to growing sales and earnings, generating solid cash flows and maintaining a strong balance sheet. Further progress in each of these important areas will keep the company moving ahead and they will help to insure another successful year in 2012.” The shares closed at $63.81, down $1.77 or 2.7% on the day. They have traded in a 52-week range of $46.10 to $66.43.

Goodrich Corp. (NYSE:GR): CPI Aerostructures (AMEX:CVU) has received a purchase order from Goodrich Corporation (NYSE:GR) for the supply of aerospace structural assemblies. Work will begin immediately with first delivery scheduled for second quarter of 2013. All deliveries will occur prior to the end of 2013. This is the first contract awarded to CPI Aero by Goodrich. In addition, for the first time, CPI Aero will have design authority for design modifications to the structure it is manufacturing. CPI Aero will utilize GKN Aerospace’s Engineering Development Center in Nashville, TN for the design and structural analysis portion of this program. The structural assemblies will be manufactured entirely by CPI Aero within its new, state-of-the-art production facility. Including this new award, total new business from all customers in 2012 is $27.4 million, compared to $22.3 million for the first two months of 2011. The shares closed at $125.85, up $0.15 or 0.12% on the day. They have traded in a 52-week range of $79.71 to $125.90.

Kinder Morgan Energy (NYSE:KMP): Kinder Morgan Energy Partners (NYSE:KMP) announced that the commitments received through Kinder Morgan Canada’s recent open season support moving forward with the proposed Trans Mountain pipeline system expansion. The expansion open season, held between Oct. 20, 2011, and Feb. 16, received strong binding commercial support from a diverse group of customers. The expansion open season was based on a 600,000 barrels per day capacity design, up from the existing 300,000 bpd capacity. The proposed expansion is anticipated to cost approximately $3.8B. The shares closed at $90.46, up $0.85 or 0.95% on the day. They have traded in a 52-week range of $63.42 to $90.00.

Macy’s Inc (NYSE:M): Online sales positively affected the company’s same-store sales by 1.7 percentage points in the fourth quarter and 1.5 percentage points in fiscal 2011 as a whole. The shares closed at $36.69, up $0.44 or 1.21% on the day. They have traded in a 52-week range of $22.50 to $36.37.

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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