{"id":58977,"date":"2026-02-23T12:38:27","date_gmt":"2026-02-23T16:38:27","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/paypal-surges-on-takeover-interest-chevron-enters-exclusive-iraq-oil-talks\/58977\/"},"modified":"2026-02-23T12:38:27","modified_gmt":"2026-02-23T16:38:27","slug":"paypal-surges-on-takeover-interest-chevron-enters-exclusive-iraq-oil-talks","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/paypal-surges-on-takeover-interest-chevron-enters-exclusive-iraq-oil-talks\/58977\/","title":{"rendered":"PayPal Surges on Takeover Interest; Chevron Enters Exclusive Iraq Oil Talks"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>PayPal (<a href=\"\/stock\/PYPL\">PYPL<\/a>) shares hit session highs<\/strong> following reports that the payments giant is attracting takeover interest after a <strong>20% stock slump<\/strong> earlier this month.<\/li>\n<li><strong>Chevron (<a href=\"\/stock\/CVX\">CVX<\/a>) entered exclusive negotiations<\/strong> with Iraq to develop the <strong>West Qurna 2 oilfield<\/strong>, a &quot;giant&quot; asset recently nationalized from Russia&#39;s Lukoil.<\/li>\n<li><strong>Senate Democrats, led by Chuck Schumer,<\/strong> announced they will block the extension of President <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a>\u2019s tariffs beyond a <strong>150-day window<\/strong>, setting up a major legislative showdown.<\/li>\n<li><strong>Goldman Sachs raised its Q4 2026 oil forecast<\/strong> by $6 to <strong>$60 for Brent<\/strong> and <strong>$56 for WTI<\/strong>, citing tighter-than-expected OECD inventories.<\/li>\n<li><strong><a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a>\u2019s &quot;Board of Peace&quot; is exploring a Gaza stablecoin<\/strong> as a preliminary solution for humanitarian aid and reconstruction in the war-torn region.<\/li>\n<\/ul>\n<h2>PayPal and Chevron Drive M&amp;A Momentum<\/h2>\n<p>PayPal (<a href=\"\/stock\/PYPL\">PYPL<\/a>) saw a sharp reversal in sentiment Monday as reports emerged that the company is attracting <strong>takeover interest<\/strong>. The payments firm has been under intense pressure since early February, when a <strong>disappointing 2026 outlook<\/strong> and slowing branded checkout growth triggered a massive sell-off. <em>Analysts suggest the current valuation, trading at roughly 10x 2026 earnings, has made the firm an attractive target for private equity or strategic tech buyers.<\/em><\/p>\n<p>In the energy sector, Chevron (<a href=\"\/stock\/CVX\">CVX<\/a>) is moving to significantly expand its Middle Eastern footprint. The company is in exclusive talks with Iraq\u2019s <strong>Basra Oil Company<\/strong> for the <strong>West Qurna 2 field<\/strong>, which accounts for nearly <strong>10% of Iraqi output<\/strong>. Chevron is reportedly pushing for improved contract terms after Iraq nationalized the field to comply with U.S. sanctions against its previous operator, Lukoil.<\/p>\n<h2>Political Friction Over Trade and Gaza<\/h2>\n<p>Senate Minority Leader <strong>Chuck Schumer<\/strong> signaled a hard line against the White House, declaring that Senate Democrats will block any attempt to extend <strong>Trump\u2019s global tariffs<\/strong> past their initial legal window. This move follows a recent <strong>Supreme Court ruling<\/strong> that struck down previous tariff authorities, forcing the administration to seek new legislative or executive paths. <em>The standoff threatens to prolong trade uncertainty for global markets and domestic manufacturers alike.<\/em><\/p>\n<p>Simultaneously, the <em>Financial Times<\/em> reported that the Trump administration\u2019s newly formed <strong>&quot;Board of Peace&quot;<\/strong> is in the early stages of developing a <strong>stablecoin for Gaza<\/strong>. The digital currency is intended to bypass traditional banking hurdles to facilitate the <strong>$7 billion in relief pledges<\/strong> recently secured from international donors. The board, which Trump envisions as a potential rival to the <strong>United Nations<\/strong>, held its inaugural meeting last week with pledges totaling <strong>$17 billion<\/strong> in combined U.S. and international support.<\/p>\n<h2>Energy and AI Market Outlook<\/h2>\n<p>Oil prices rose on Monday, with <strong>Brent climbing to $71.90<\/strong> and <strong>WTI reaching $67.10<\/strong> ahead of critical U.S.-Iran talks scheduled for Thursday. <strong>Goldman Sachs<\/strong> updated its long-term outlook, raising its <strong>4Q 2026 price targets<\/strong> while maintaining that a global surplus of <strong>2.3 million barrels per day<\/strong> is still likely. The bank noted that lower stockpiles in developed nations (OECD) are providing a firmer floor for prices than previously anticipated.<\/p>\n<p>In technology, a new report from <strong>Citrini Research<\/strong> warned of a &quot;Global Intelligence Crisis&quot; by 2028, suggesting that rapid AI adoption could lead to <strong>10.2% unemployment<\/strong> among white-collar workers. Despite this &quot;dystopian&quot; labor outlook, the research highlights that corporate margins would likely expand as labor costs are replaced by AI infrastructure. This trend is expected to further cement the market dominance of Nvidia (<a href=\"\/stock\/NVDA\">NVDA<\/a>), which remains the primary provider of the <strong>compute power<\/strong> driving this transition.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways PayPal (PYPL) shares hit session highs following reports that the payments giant is attracting takeover interest after a 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