Levi Strauss Jumps, Delta Airlines Up, Venture Global Drops on US, Iran Ceasefire
Description
On this episode of Stock Movers:
- Levi Strauss (LEVI) shares jump after the company raised its projections for the year after reporting better-than-expected quarterly results, citing strong demand in all regions. The company's revenue and earnings per share exceeded expectations, with revenue of $1.7 billion in the fiscal quarter ended March 1.
- Delta Airlines (DAL) shares are up on positive earnings. Delta Air Lines Inc. said it expects to incur more than $2 billion in higher fuel costs through June because of the Iran war. Delta Chief Executive Officer Ed Bastian said the company is "looking to do more" fare increases and will make "some meaningful capacity reductions" of about 3.5%.
- Venture Global (VG) shares drop. Energy stocks are falling and airline stocks are rising after US and Iran agreed to a two-week ceasefire in exchange for Tehran reopening the Strait of Hormuz.
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