These 2 Soaring Stocks Couldn't Care Less About the Stock Market Swoon
Wall Street got thrown for a loop on Tuesday morning, as investors finally started to heed warnings about the valuation levels in the broader stock market. Big pullbacks and heightened volatility came for many of the hottest areas of the stock market, leading to disparate results across major market benchmarks. Shortly after noon EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 177 points to 33,936. However, bigger downdrafts hit the S&P 500 (SNPINDEX: ^GSPC), which lost 52 points to 4,141, and the Nasdaq Composite (NASDAQINDEX: ^IXIC), which plunged 363 points to 13,532.
Yet even as the rest of the stock market lost ground, some stocks managed to post strong gains. Arconic (NYSE: ARNC) and Franklin Resources (NYSE: BEN) are in very different areas of the market, but they both managed to show investors that they can thrive in any kind of environment.
Shares of Arconic jumped 16% at midday on Tuesday. The value-added aluminum company reported strong first-quarter results and had a promising outlook for the rest of the year.
Source Fool.com
