{"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 Trump\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>Trump\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><a href=\"https:\/\/stockmarketwatch.com\/energy\/crude-oil\" data-internallinksmanager029f6b8e52c=\"12\" title=\"Crude oil\">Oil prices<\/a> 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 <a href=\"https:\/\/stockmarketwatch.com\/stock\/NVDA\" data-internallinksmanager029f6b8e52c=\"15\" title=\"stock: NVDA\">Nvidia<\/a> (<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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