Going into tomorrow’s earnings report, analysts are expecting to see Carmax report earnings of $0.38 per share. During the same period last year the company had earnings of $0.33.

Carmax has a strong history of posting better than expected earnings… easily surpassing analyst estimates for each of its past 8 quarters.

Over the past month the stock had been in steady downward trend, but has traded up slightly higher over the past week after the stock was upgraded by Robert W. Baird & Co. to Outperform from Neutral, and raised its price target on the stock to $40 from $38.

Even with its move higher over the past week, the stock is still well below where it was trading in mid-February, so there is still plenty of room for the stock to trade higher should it report its 9th consecutive quarter of better than expected earnings.

KMX stock closed Wednesday’s trading session up 1.9% to $34.59, up $0.64.

• Microsoft (MSFT) : Microsoft was upgraded today by EVA Dimensions, LLC to Buy from Overweight. MSFT stock closed the trading session at $29.85, down 0.9%.
• Baker Hughes Inc. (BHI) : Baker Hughes was upgraded by Citigroup to Hold from Sell. BHI stock finished the trading session down 1.3% at $47.32.
• Electronic Arts (ERTS) : Electronic Arts received a broker upgrade today from Piper Jaffray which boosted its rating on the stock to Neutral from Underweight. The stock closed the day at $19.30, up 1.2%.

• Microsoft (MSFT) : Tech giant Microsoft set a new 52 week high today, trading up to $31.58 before closing the trading session down 1.4% on the day to $30.96, down $0.43. The company posted better than expected fiscal Q3 earnings last night following the market close.
• Apple Computer (AAPL) : Apple continues to trade strongly following better than expected earnings earlier this week. The stock hit a new all time high today of $272.18. The stock finished out the session up 1.6% to $270.83, up $4.36.
• Home Depot (HD) : Home improvement giant Home Depot set a new 52 week high today. The stock traded as high as $36.44 and closed the session just under its daily high at $36.39, up $0.67 or 1.9%. Home Depot will not be reporting its earnings until mid May.
• American Express (AXP) : Financial giant American Express set a new 52 week high today of $49.19. The stock closed the day up 2.7% at $48.05, up $1.28. The company posted better than expected earnings Thursday night, reporting $0.73 per share, verses analyst estimates for $0.63.

Ford Motor (NYSE: F) hit a new 52 week high today of 9.14 before afternoon profit taking came in and pushed shares lower. The stock has been very strong lately, and recently was considered to be the stock of the year from the writers of CrossingWallStreet. Shares finished the day down slightly at $8.94, down 0.45%.

Technology giant Microsoft (NASDAQ: MSFT) also rose to a new 52 week high today. Shares of the company hit a day today of $30.14. Shares of MSFT finished today trading session up 0.4% to $30.11, just three pennies off its new 52 week high.

Gold prices continue to rise, and Yamaha Gold (NYSE: AUY) has been benefiting from the recent gold rush, setting a new 52 week high earlier in the session at 13.49. After hitting another new high today, the profit takers came in and sold the stock off a bit, which ended the day slightly lower at $13.15, down 0.23%. Gold prices rose as high as 1146.5 but closed down 70 cents to 1,140.5.

What are your favorite stocks right now? Which stocks do you see rising to new highs in the near future?