On this episode of Stock Movers:
- Carnival (CCL) shares surge after oil prices dropped. This comes after the US and Iran agreed to a two-week ceasefire and Tehran pledged to reopen the Strait of Hormuz, with President Donald Trump vowing to pursue talks rather than escalate the war.
- 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%.
- Exxon (XOM) shares drop. Exxon Mobil said it lost 6% of its global production in the first quarter due to the Iran war. The company said two LNG production lines at a facility in Qatar were damaged by Iranian missile strikes and the damage will take a prolonged period to repair.
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