Delta Predicts $2 Billion Fuel Hit; Exxon Sees 6% of Its Worldwide Output Shut; Travel Stocks Rise
Description
Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Delta Air Lines (DAL) expects to incur more than $2 billion in higher fuel costs through June because of the Iran war, prompting the carrier to tread carefully and stick to its previous full-year profit forecast.“We’re not updating it in light of the uncertainty, so I think it’d be imprudent to make any estimate at this point,” Delta Chief Executive Officer Ed Bastian said.
- Exxon Mobil (XOM) said 6% of its global first-quarter production was knocked out as the Iran war paralyzed much of the Persian Gulf energy industry. Half of those outages were concentrated at a liquefied natural gas complex in Qatar in which Exxon is a partner, the company said on Wednesday. Two LNG production lines, or trains, were damaged.
- Carnival Corp. rose 9.7% in trading before regular market hours.
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