Skip to main content
This section contains press releases and other materials from third parties (including paid content). The Globe and Mail has not reviewed this content. Please see disclaimer.

Lumen, Cogent, Napco, CECO Environmental, and Benchmark Stocks Trade Up, What You Need To Know

StockStory - StockStory - Mon Mar 23, 11:55AM CDT
LUMN

LUMN Cover Image

What Happened?

A number of stocks jumped in the afternoon session after oil prices fell sharply following reports of de-escalating tensions between the U.S. and Iran. 

The positive market sentiment came after President Trump announced that the U.S. has had "very good and productive conversations" with Iran, sparking hopes for an end to the conflict. This news sent the price for a barrel of Brent crude, a key international benchmark, plunging. Companies with significant fuel expenses, such as airlines and cruise operators, were among the day's biggest winners. Fuel is one of the largest operating costs for these industries, so a sustained drop in oil prices can significantly improve their profit margins. Illustrating the trend, shares of American Airlines and United Airlines climbed around 4.9% and 4.5% respectively, while Norwegian Cruise Line Holdings surged 7.9%.

The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.

Among others, the following stocks were impacted:

Zooming In On CECO Environmental (CECO)

CECO Environmental’s shares are very volatile and have had 26 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The previous big move we wrote about was 20 days ago when the stock dropped 4.6% on the news that the escalating conflict with Iran threatened to disrupt global oil supplies and fuel inflation. U.S. stocks fell as crude oil prices rose for the second consecutive day, with the international benchmark, Brent crude, jumping as much as 13% to over $82 a barrel. The surge came as shipments through the Strait of Hormuz, a critical channel for about 20% of the world's oil, were choked off. Analysts were concerned that a prolonged conflict could lead to an inflationary shock. The injection of new uncertainty into the business environment is a hit to confidence, which could lead companies to invest and hire less, potentially derailing an already fragile economy.

CECO Environmental is down 2.1% since the beginning of the year, and at $58.55 per share, it is trading 26% below its 52-week high of $79.14 from February 2026. Despite the year-to-date decline, investors who bought $1,000 worth of CECO Environmental’s shares 5 years ago would now be looking at an investment worth $7,623.

ONE MORE THING: The $21 AI Application Stock Wall Street Forgot. While Wall Street obsesses over who’s building AI, one company is already using it to print money. And nobody’s paying attention.

AI chip stocks trade at ridiculous valuations. This company processes a trillion consumer signals monthly using AI and trades at a third of the price. The gap won’t last. The institutions will figure it out. You need to see this first. Read the FREE Report Before They Notice.

This article contains syndicated content. We have not reviewed, approved, or endorsed the content, and may receive compensation for placement of the content on this site. For more information please view the Barchart Disclosure Policy here.

All market data (will open in new tab) is provided by Barchart Solutions. Copyright © 2026.

Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice. For exchange delays and terms of use, please read disclaimer (will open in new tab).