Ross Stores and Starbucks Among Stocks Sizzling at 52-Week Highs Today

Ross Stores (NASDAQ:ROST): The company reports earnings on Thursday. The average estimate of analysts is for net income of 86 cents per share, a rise of 24.6% from the company’s actual earnings for the same quarter a year ago. The shares closed at $56.57, down $0.38 or 0.67% on the day. They have traded in a 52-week range of $33.50 to $57.06.

Starbucks Corp. (NASDAQ:SBUX): Starbucks CFO says sees coffee costs dropping in 2nd half of year.
The CFO said Starbucks has locked in coffee prices into 2013. The shares closed at $52.68, up $0.34 or 0.65% on the day. They have traded in a 52-week range of $33.72 to $52.47.

Scholastic Corp. (NASDAQ:SCHL): The company is set to report earnings on Thursday. The shares closed at $32.20, up $0.32 or 1% on the day. They have traded in a 52-week range of $23.32 to $32.00.

Threshold Pharma (NASDAQ:THLD): Threshold Pharmaceuticals announced that the first patient has been dosed in its Phase 1/2 clinical trial of TH-302 as monotherapy and in combination with bortezomib in patients with relapsed/refractory multiple myeloma who have received at least two prior lines of therapy. TH-302 is a hypoxia-targeted drug. Bortezomib, or Velcade, is approved for the treatment of multiple myeloma, a hematologic cancer that develops in the bone marrow. The shares closed at $7.00, up $0.18 or 2.64% on the day. They have traded in a 52-week range of $1.18 to $7.10.

Watsco (NYSE:WSO): UTC Climate, Controls & Security, a unit of United Technologies (NYSE:UTX), has signed an agreement with Watsco, Inc. (NYSE:WSO) to form a joint venture named Carrier Enterprise Canada to distribute Carrier, Bryant, Payne heating, ventilation and air conditioning products and WWG/Totaline parts and supplies in Canada. Under the agreement, UTC Climate, Controls & Security will contribute its company-operated HVAC distribution business in the region to the new joint venture. Watsco will own 60% of the joint venture and UTC Climate, Controls & Security 40%. The HVAC distribution operations UTC Climate, Controls & Security is contributing to the new venture operate in all Canadian provinces with approximately 330 employees in 35 locations and had 2011 sales of approximately $330M. The shares closed at $74.55, up $1.71 or 2.35% on the day. They have traded in a 52-week range of $50.45 to $74.13.

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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