By Stockpickr Staff
Updated at 4:30 p.m. from 12:15 p.m. EDT on April 1

The S&P 500 is off roughly 48% since its October 2007 peak of 1,550, signaling the worst bear-market since 1933. But there are always stocks and companies that buck the prevailing trend of analyst and investor estimates, both on the upside and downside.

Even in this volatile market, this includes stocks making 52-week highs and 52-week lows .

Let's take a closer look at a few of these stocks.

52-Week Highs

3Com (COMS): This Chinese network and communication device company, which hit a 52-week high on Friday, March 27, has had a 52-week trading range of $1.43 to $3.32 and closed down 3.9% to $3.21 on Wednesday. Its shares have had a nice run over the past year, up more than 40% vs. a decline in the S&P 500 of about 45%.

In 2007, private-equity firm Bain Capital and Chinese-based Huawei Technologies proposed a $2.2 billion deal to acquire 3Com, but it was rejected by the U.S government over concerns that sensitive military technology could be compromised by the Chinese government.

Aug. 5, 2008, was a water-shed moment for the company. It raised its forecast for the fiscal first quarter to $335 million to $340 million, compared with the previous estimate of $325 million to $330 million. The company also said it expects its non-GAAP earnings per share to be in the range of 6 cents to 8 cents, compared with the prior view of 3 cents to 5 cents. This was an important step for the company, showing investors that 3Com was indeed a viable business, with or without the private-equity buyout.

Recently, CEO Bob Mao said: "In today's tight economy, we are seeing clear signs of a fly to value, as customers look to get more for their networking dollars." Furthermore, 3Com management issued a $100 million buyback two quarters ago, which is still in place today.

For its latest quarter, on March 19, 3Com reported better-than-expected profit of 13 cents per share, 30% higher than the average Wall-Street estimate of 10 cents per share.

On Friday, Barclays Capital upgraded 3Com to equal weight from underweight and increased its price target from $2.75 per share to $3 per share. The stock was also one of James Altucher's recent Rocket Stocks picks.

Shares of 3Com are likely overbought in the short term, but any pullback into the $2.40-to-$2.50 area could make the company attractive again.

American Italian Pasta (AIPC): This domestic producer of pasta, which hit its latest 52-week high on Monday, has had a 52-week trading range of $5.15 to $35.72 and closed down 92 cents at $33.89 on Wednesday. Its shares are up a whopping 100% since January alone and 500% since March of 2008. It was one of TheStreet.com Ratings' top 5 all-around-value stocks for March 31, and Jim Cramer added it to his list of recommended private-label food stocks on March 13.

American Italian Pasta is the largest U.S producer of dry pasta, with Wal-Mart (WMT) acting as its largest customer on the retail side. More than 75% of the company’s business is derived from retail-oriented operations, including traditional grocery retailers, club stores and discount/value chains.

On Dec. 11, the company reported fourth-quarter earnings of 36 cents a share, up from 10 cents the prior year. Full-year sales rose 43% to $569 million. Profit improved to 99 cents a share from 28 cents in 2007 and a loss of $1.65 in 2006.


Recently, there has been some chatter with regards to a potential Wal-Mart bid for AIPC, but frankly that is not how Wal-Mart operates. Generally speaking, Wal-Mart would much rather squeeze its suppliers on pricing rather than buying them out directly.

Shares of American Italian Pasta are extremely overbought and should be avoided here, despite the demographic trend toward pasta and pasta related items during a recession.

Stocks making 52-week lows recently include Nashua (NSHA) on March 31 and Express Scripts (ESRX) on March 30. Other 52-week highs include Dollar Tree (DLTR), Family Dollar (FDO), Hot Topic (HOTT) and Myriad Genetics (MYGN), all on March 31.

For more ideas, visit the Notable 52-Week Highs and Lows porftolio on Stockpickr.com, and check out the daily 52-week highs and 52-week lows portfolios, which we update after the close.

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