With Energy (XLE) up 2.3%, this looks like a sector-led move rather than a company-specific surprise.
The energy sector, as measured by the XLE ETF, is trading significantly higher today, driven by a surge in crude oil prices. The price of both Brent and WTI crude rose over 1% due to persistent uncertainty regarding the reopening of the strategically important Strait of Hormuz. Iran has stated that a deal to reopen the waterway is in its final stages but has also presented the U.S. with several conditions, creating doubt and a risk premium in the oil markets. This geopolitical tension is the primary driver for the sector's outperformance.