Shares of major U.S. oil companies surged following a U.S. operation in Venezuela that resulted in the arrest of leader Nicolás Maduro, signaling potential opportunities for rebuilding the nation’s energy infrastructure. Chevron’s stock increased by 5%, and Exxon Mobil saw a rise of 2%. Halliburton, a leader in oilfield services, experienced an 11% boost.
In the technology sector, Coinbase, a cryptocurrency exchange, advanced by 7% after being upgraded to “buy” from “neutral” by Goldman Sachs, which highlighted the company’s strong brand and revenue growth. Similarly, Okta, an access management platform, gained approximately 6% after announcing a $1 billion share buyback program.
Arista Networks’ shares rose by over 2% following a Piper Sandler upgrade, with the firm predicting 2026 as pivotal for hardware vendors. Estee Lauder also saw a nearly 2% increase thanks to an upgrade from Raymond James, which singled it out as a top pick for 2026.
Conversely, Domino’s Pizza experienced a decline of more than 3% after TD Cowen downgraded its rating, citing weaker projections for U.S. same-store sales. Phillips 66 shares climbed 7% after it agreed to acquire assets and infrastructure from the Lindsey Oil Refinery.
Mobileye, a manufacturer of autonomous vehicle technology, rose over 3% following a favorable rating change at Barclays. QXO, a roofing and construction products distributor, surged 19% due to a $1.2 billion preferred equity investment led by private equity firm Apollo. Duolingo increased by 7% after a Bank of America upgrade, emphasizing its value as an entertainment product. Conversely, Zenas BioPharma’s shares plummeted more than 50% due to ineligibility for milestone payments related to a clinical trial.
Why this story matters
- The rise in oil stocks indicates potential economic growth in Venezuela following political changes, affecting global oil markets.
Key takeaway
- Upgrades from major financial institutions influenced positive stock movements for several companies, emphasizing market confidence.
Opposing viewpoint
- Concerns about overestimating growth in sectors like pizza delivery indicate caution amid shifting consumer preferences.
