DAL, LEVI, XOM & more
Check out the companies making the biggest moves premarket: Delta Air Lines — Shares traded 12% higher, boosted by the steep declines in oil prices after the U.S. agreed to a ceasefire. The airline also posted better-than-expected results for the first quarter, though it issued second-quarter guidance that was below analyst estimates. Levi Strauss — The apparel company surged more than 9% after it reported a revenue and earnings beat for the first quarter . Direct-to-consumer sales for the first time made up half of revenue at Levi, the company said. It also raised its full-year earnings guidance. Energy stocks — A slew of companies traded lower as oil prices sunk below $100 per barrel after the United States and Iran agreed to a two-week ceasefire that included the temporary reopening of the Strait of Hormuz. APA shed more than 9%. Occidental Petroleum and Diamondback Energy fell about 7%. Exxon Mobil declined more than 5.5%, while Chevron was off nearly 4.5%. Travel stocks — Shares surged as fears of demand destruction due to lower consumer spending and higher input costs eased as oil prices tumbled. United Airlines jumped more than 10%, while Southwest Airlines also rose 9%. In cruise lines, Carnival was up nearly 10%, while Norwegian Cruise Line and Royal Caribbean gained 9% and more than 7.5%, respectively. The online travel planning site Expedia was up nearly 5%. RPM International — The building materials company jumped more than 10% after its fiscal third quarter report showed an earnings and revenue beat. RPM also reaffirmed its guidance for the current quarter of mid-single-digit sales growth. Newmont — The gold miner soared 6% following the jump in gold prices. The precious metal rose to a nearly three-week high and was last up about 2%, as oil prices and the dollar fell on the U.S.-Iran ceasefire. Memory stocks — Shares jumped as the stock market’s favorite group for 2026 again joined the broader equity rally on Wednesday. Micron was up more than 9.5%, while Sandisk and Seagate Technology were both up more than 8%. Western Digital jumped more than 7%. Freeport-McMoRan — The mining company was up more than 6.5% as metals broadly jumped. Copper, of which Freeport is one of the world’s largest producers, popped more than 3% on easing worries that demand for the industrial metal would weaken if the U.S.-Iran war slowed global economic growth. Super Micro Computer — Shares rose more than 4.5% after the company revealed on Tuesday that two independent members of the company’s board are conducting an investigation regarding the indictment of employees accused of smuggling Nvidia chips to China. There is no set timeline for the investigation, Super Micro said, and the company won’t comment further until it is complete. — CNBC’s Michelle Fox contributed reporting.
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