Levi Strauss Jumps, Delta Airlines Up, Venture Global Drops on US, Iran Ceasefire - podcast episode cover

Levi Strauss Jumps, Delta Airlines Up, Venture Global Drops on US, Iran Ceasefire

Apr 08, 20264 min
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Episode 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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Transcript

Speaker 1

Bloomberg Audio Studios, podcasts, radio news.

Speaker 2

The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg data.

Speaker 3

Let's take a look at some of the stocks on the move today, and there are plenty. We can do that, but Bloomberg's Billy lipshow, Philly, what are you looking at?

Speaker 4

I want to start with one stock moving on strictly fundamentals news, and that's Levi Strauss Tiker Ellie v I right now. The stock up more than twelve percent. This came after beating expectations with their last quarterly earnings.

Speaker 1

I don't know if you guys watched the show Love Story. Nop, No, I didn't. I did, I did?

Speaker 2

I did?

Speaker 1

All right, so we got right Hey, talk to me about this.

Speaker 4

So apparently, the the fact that the Levi's five seventeen style are prominently.

Speaker 1

Featured in the show has led the youths really to go.

Speaker 3

Online by share, by the way, news splash, All things nineties are back in voguefield.

Speaker 1

I'm redeemed. Thank you, we're in our sweet spot right now. We are were my friend, my closet's looking good. Oh I was going to ask did you keep the stuff that you wore in the nineties or sadly I did you know? There are a number of pieces I would have to say that are still there for my daughter's enjoying them now. So there anyway, I go ahead, go on with your stock. Oh, you're good. So the stock's up on that.

Speaker 4

Obviously, there was some uncertainty about the the kind of state of the consumer, US consumer in particular. I also wanted to call out that the company did tout their direct to consumer strategy, so online sales going you know, straight to people buying from Levi's dot com as.

Speaker 1

Opposed to going to your local uh store.

Speaker 4

So Levi Strauss ticker l ev I right now up thirteen percent, biggest gained since April twenty twenty five.

Speaker 1

Okay, wait was the Levi's five seventeen? You said, yeah, okay, all right.

Speaker 3

I am a Levi's customer, by the way, not Lee or not Wrangler or not Matt Miller who does like European styles.

Speaker 1

It's a boogy guy exactly. So the boy, Yeah, We've give that enough. What's next on your list?

Speaker 4

Bailie looking at the travel space so uh looking at shares of Delta ticker DAL right now up almost nine percent, biggest gain in about two months.

Speaker 1

Right now. This does come partly after we saw oil and.

Speaker 4

Pretty much anything in the energy space pulling back, so crude right now at about ninety three dollars a barrel, but also calling out that the company beat expectations, was quite bullish on what the quarters ahead could look like. Executives really touting that travel demand remains healthy and that they do also have the ability to increase fares in fees, so certainly something that consumers will not like. People who are booking flights. I know Paul is not a fan of the friendly skies.

Speaker 3

But if I'm a million mile mile flyer with United, all right, yep, so anyway, I'm only flying with people pay me to fly, all right?

Speaker 1

How about one more than that?

Speaker 3

Yes? What's going on?

Speaker 2

Yeh.

Speaker 4

Neck Gas also under a bit of pressure, So nat gas futures LNG right now down about five percent. So that's weighing on the companies that move that stuff. So Venture Global one, we want to highlight ticker VG down about fourteen percent right now, biggest drop since October.

Speaker 1

Again, much as you see kind.

Speaker 4

Of the knock on effects from anything around oil, LNG gas prices. You're going to see kind of the investors rotating away from some of the companies that benefit from higher pricing.

Speaker 2

This Stock Movers report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street and for the latest market moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.

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