COOP - Hot Stocks: Oil stocks rally; GT drops 27%; Z COOP rise on earnings; BL hits low
Investors remained jittery on Friday amid continuing worries about higher interest rates and rising geopolitical tensions. As a result, the Nasdaq recorded a decline of almost 3% while the S&P 500 finished lower by nearly 2%. While technology led the major equity averages lower, investors could find a safe haven in the oil sector. A spike in crude prices gave a lift to HollyFrontier (NYSE:HFC), Baker Hughes (NASDAQ:BKR), Occidental Petroleum (NYSE:OXY), Phillips 66 (NYSE:PSX) and Schlumberger (NYSE:SLB). Zillow (NASDAQ:Z)(NASDAQ:ZG) also bucked the overall negative sentiment. Shares jumped as the company delivered a strong earnings report, which showed higher-than-expected sales from the wind-down of its shuttered house-flipping business. Earnings news also gave a lift to Mr. Cooper (NASDAQ:COOP), which rallied to a 52-week high on better-than-expected results. Turning to some of the standout decliners on the session, Goodyear Tire & Rubber (NASDAQ:GT) lost more than a quarter of its value despite
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Hot Stocks: Oil stocks rally; GT drops 27%; Z, COOP rise on earnings; BL hits low