Key stock movements before the market opens: Delta Air Lines, Levi, Exxon Mobil, and others

Pre-Market Moves Overview

Here’s a look at some companies making notable pre-market movements:

Delta Air Lines — Shares climbed 12%, influenced by a drop in oil prices following a U.S. ceasefire agreement. The airline also exceeded first-quarter expectations, though its second-quarter outlook was less optimistic than analysts had hoped.

Levi Strauss — This apparel brand surged over 9% after revealing strong first-quarter sales and profits. Notably, direct-to-consumer sales now make up half of their total sales for the first time, prompting them to raise their full-year profit forecast.

Energy Stocks — Many stocks in this sector lost value as oil dipped below $100 a barrel due to a temporary ceasefire agreement between the U.S. and Iran. Companies like APA saw their shares drop by over 9%, while Occidental Petroleum and Diamondback Energy fell around 7%. Exxon Mobil dropped more than 5.5%, and Chevron was down nearly 4.5%.

Travel Stocks — A boost in stock prices was observed as falling oil prices alleviated worries about consumer spending and rising costs. United Airlines jumped more than 10%, and Southwest Airlines increased by 9%. In the cruise industry, Carnival gained nearly 10%, while Norwegian Cruise Line and Royal Caribbean saw increases of over 9% and 7.5%, respectively. Expedia also climbed nearly 5%.

RPM International — This building materials company rose more than 10% after reporting increased earnings and sales for its fiscal third quarter. RPM reaffirmed its outlook for mid-single-digit sales growth this quarter.

NEWMONT — The gold mining firm increased by 6% as gold prices surged. The precious metal reached its highest level in almost three weeks, up about 2%, thanks to falling oil prices and a weaker dollar linked to the U.S.-Iran ceasefire.

Memory Stocks — This sector saw significant gains as Micron rose more than 9.5%, with both SanDisk and Seagate Technologies appreciating by over 8%. Western Digital was up over 7%.

Freeport-McMoRan — The mining company increased more than 6.5% as metal prices saw a notable uptick. Copper, a key product for Freeport, jumped over 3% as fears of declining demand due to a slowdown in global economic growth eased.

SUPER MICROCOMPUTER — Shares rose more than 4.5% following the announcement that two independent board members are looking into the indictment of an employee accused of smuggling Nvidia chips into China. SuperMicro noted that there’s no set timeline for the investigation and will remain quiet until it’s completed.