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Trump Announces Historic Oil Deal with Venezuela

Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump with this daily recap compiled by The Fly.DEAL WITH VENEZUELA:President Trumpon social media, "The United States of America has just entered into an Agreement with the Country of Venezuela on, THE BIGGEST OIL DEAL IN WORLD HISTORY! At my direction, Secretary of State Marco Rubio, and Secretary of War Pete Hegseth, working closely with Highly Respected Interim President of Venezuela, Delcy Rodriguez, and, through a partnership with private business, have secured majority U.S. control of more than 65 BILLION BARRELS of proven Oil Reserves in Venezuela, at no cost to the American Taxpayer. This Historic Transaction MORE THAN DOUBLES American Oil Reserves, greatly increases our Oil Supply, and will substantially lower Gas Prices for all Americans, long into the future, while helping to continue to set Venezuela on a course toward Tremendous Success and Great Prosperity. This Transaction will greatly strengthen the already growing relationship between Venezuela and the United States!" Publicly traded companies in the oil space include BP, Chevron, ConocoPhillips, Exxon Mobil, Shelland TotalEnergies.AGREEMENTS WITH GD, LOCKHEED:The Department of Warthe signing of two framework agreements with General Dynamics Ordnance and Tactical Systemsand Lockheed Martin. These agreements initiate seven-year multiyear procurement contracts designed to increase production quantities and accelerate delivery schedules for critical missile subcomponents supporting the Terminal High Altitude Area Defense and Patriot Advanced Capability-3 Missile Segment Enhancement interceptor programs. "Today's announcement represents an example of the evolution of how we partner with industry to expand the Arsenal of Freedom, outpace emerging threats, and ensure the Warfighter never faces a fair fight. General Dynamics and Lockheed Martin have answered the call. We are cutting red tape, shortening timelines, and rapidly scaling our domestic manufacturing capacity to deliver the advanced air and missile defense capabilities," said Under Secretary of War for Acquisition and Sustainment Michael Duffey.DOJ SETTLEMENT:The Justice Department, together with the Drug Enforcement Administration, announced a $50M settlement with Walmartto resolve allegations that Walmart pharmacies illegally filled thousands of invalid prescriptions for opioids and other controlled substances in violation of the Controlled Substances Act. "Today's settlement proves this Department is committed to putting Americans' flourishing first," said Associate Attorney General Stanley Woodward.

LightPath Technologies Shares Drop Nearly 20%

LightPath Technologies (LPTH) is under pressure on Friday after the U.S. Army signaled it is casting a wider net for companies that could support its effort to replace the Stinger missile. Lockheed Martin (LMT) and RTX's (RTX) Raytheon remain the lead contractors developing prototypes for the Next Generation Short Range Interceptor program, and LightPath currently provides the infrared imaging tech used in Lockheed's design. But in an August 26 notice, the Army said it plans to evaluate additional potential sources ahead of a planned spring 2027 demonstration, a milestone that could ultimately determine who wins the procurement award. Shares of LightPath are down almost 20% at $11.05 in afternoon trading.