With Materials (XLB) up 2.1%, this looks like a sector-led move rather than a company-specific surprise.
The materials sector is experiencing a significant upward move, driven by a positive outlook for chemical companies and a rally in both industrial and precious metals. [3, 19] News of improving demand in key end-markets like automotive and construction is boosting chemical stocks. [3] Additionally, rising prices for commodities such as silver and a generally firm sentiment across the metals complex are contributing to the sector's gains. [16, 19]