Stocks opened lower on Thursday as a U.S. delegation led by Treasury Secretary Steven Mnuchin arrived in Beijing to meet with Chinese officials about tariffs and trade. Investors around the world will be focused intently on these discussions, with many hoping that both sides can reach a compromise that would avoid a tit-for-tat trade war.
Through just one hour of regular trading Thursday, the Dow had shed about 250 points, or nearly 1.1%. The S&P 500 was down a similar amount, dipping about 1.0%, or 26 points. Meanwhile, the tech-heavy Nasdaq fared slightly better, dropping just 0.9% to 7,035.73.
Of course, not every stock was suffering on Thursday morning, and in some cases, strong earnings results were enough to outweigh concerns that talks between the U.S. and China may not ease trade war tensions.
Looking for stocks that are breaking higher amid market-wide volatility? Check out these three stocks that just touched 52-week highs this morning!
Stocks Touching 52-Week Highs as Trade Talks Loom: Tableau Software Inc (DATA)
Tableau Software Inc (NYSE:DATA) shares surged to touch a new 52-week high of $97.09 during early trading hours after the company reported its latest quarterly financial results on Wednesday afternoon. Shares of the software company had already started moving higher ahead of the report, gaining about 5.5% in the prior month.
Investors pushed DATA higher after the firm posted quarterly revenue of $224 million, topping our consensus estimate of $217.46 million and improving 12% year over year.
Tableau also added 3,900 new customers in the quarter, and its board approved a $300 million share repurchase program. DATA is currently sporting a Zacks Rank #3 (Hold).
Stocks Touching 52-Week Highs as Trade Talks Loom: World Wrestling Entertainment, Inc. (WWE)
Shares of World Wrestling Entertainment, Inc. (NYSE:WWE) gained more than 3.5% and reaching a new all-time high of $41.58 in morning trading today. The sports entertainment giant filed its first quarter fiscal 2018 earnings report on Thursday morning, and investors clearly liked what they saw.
WWE posted adjusted earnings of 18 cents per share, cruising past the Zacks Consensus Estimate of 13 cents and growing 125% from the prior-year period.
The company also raised its full-year guidance for adjusted OIBDA to $150 million from $145 million. WWE is now holding a Zacks Rank #2 (Buy).
Stocks Touching 52-Week Highs as Trade Talks Loom: NRG Energy Inc (NRG)
NRG Energy Inc (NYSE:NRG) was another stock surging in the wake of solid earnings results, adding more than 6.3% in morning trading to touch a new 52-week high of $32.26 per share. The energy company posted revenue of $2.42 billion in its latest quarter, beating our consensus estimate of $2.23 billion and improving 1.6% from the year-ago period.
More notably, NRG posted adjusted earnings of 87 cents per share, crushing the Zacks Consensus Estimate which called for break-even earnings.
Adjusted EBITDA in the first quarter was $549 million compared with $385 million in the prior-year period. NRG is a Zacks Rank #1 (Strong Buy).
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