In midday trading, several stocks are making waves on the market, reflecting a mix of positive and negative developments across various sectors.
Oracle, the cloud platform provider, experienced a notable surge in its shares, rising over 9%. This jump comes on the heels of the company showcasing its artificial intelligence capabilities during the Customer Edge Summit. A significant highlight was its Oracle Utilities Opower AI-driven platform, which has reportedly saved residential utility customers an impressive $369 million in 2025.
In contrast, shares of Conagra fell by more than 5% following the announcement that John Brase will step in as CEO, effective June 1. Brase, who previously worked at J.M. Smucker, replaces Sean Connolly amidst a broader company trend, as Conagra’s shares have plummeted more than 17% in 2026.
Allogene Therapeutics made headlines with its stock soaring nearly 30% after positive phase 2 clinical trial results indicated success in its CAR T treatment for lymphoma patients. This promising data demonstrated improved cancer cell eradication rates in those undergoing treatment.
Meanwhile, the iShares Expanded Tech-Software Sector ETF (IGV) saw a rebound of over 4%, recovering from three consecutive days of declines. Companies like ServiceNow advanced nearly 7%, Salesforce gained more than 4%, and Microsoft saw a 2% increase.
On the other hand, Goldman Sachs faced a more challenging day; its shares fell more than 2% as trading for its fixed income, currencies, and commodities unit came in at $4.01 billion, missing the $4.92 billion estimate from analysts. Nonetheless, Goldman reported an earnings and revenue beat in its first-quarter report, buoyed by record equities trading and strong investment banking revenues.
Revolution Medicines experienced a surge of almost 40% after announcing its pancreatic cancer drug succeeded in a phase 3 trial, significantly improving patient survival. Patients taking the daily pill, daraxonrasib, reportedly lived 13.2 months compared to 6.7 months for those undergoing chemotherapy.
In retail news, Williams-Sonoma gained more than 2% after receiving an upgrade to “buy” from Goldman Sachs, with analysts praising its strong portfolio of brands. Conversely, Best Buy’s shares dipped 3% after being downgraded by Goldman Sachs, as analysts expressed concerns over potential sales risks due to rising memory costs affecting laptops and computers.
Fastenal, the industrial supplier, faced nearly an 8% decline despite reporting earnings that met expectations. The company posted earnings of 30 cents per share and $2.2 billion in revenue, aligning with analyst forecasts.
In the energy sector, several producers saw gains as oil prices climbed above $100, driven by the U.S. Navy’s enforcement of a blockade on the Strait of Hormuz. APA rose more than 2%, Phillips 66 nearly 2%, and Chevron added 1%.
However, cruise line stocks faced pressures due to higher energy costs and demand fears, with Carnival Corp. dropping 4% and Norwegian Cruise Line falling 3%. Royal Caribbean shares were also down over 2%. Airlines grappled with similar challenges, as both United Airlines and Delta Air Lines declined around 2%, while Southwest Airlines lost more than 1%.
Palantir’s shares rebounded by 4% after a sharp sell-off of over 13% the previous week, reflecting ongoing concerns about the impact of artificial intelligence on software companies. This week’s performance marked a recovery following its worst week since April 2025.
Lastly, Leggett & Platt experienced a significant jump of almost 13% after announcing an agreement to be acquired by Somnigroup International, a bedding manufacturer, in a deal valued at $2.5 billion that is expected to close by the end of 2026.
Overall, market activity showcases a diverse landscape, with some companies capitalizing on positive news while others navigate various challenges.
