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Speaker 1: Bloomberg Audio Studios, podcasts, radio News, The.

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Speaker 2: Stock Movers Report, your roundup of companies making moves in

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Speaker 2: the stock market, harnessing the power of Bloomberg Data.

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Speaker 1: Let's take a look at some stocks on the move today.

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Speaker 1: I'm Nathan Hager, joined by Bloomberg's Dan Curtis with a

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Speaker 1: massive relief rally underway off the latest developments in Iran,

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Speaker 1: including Delta Airlines, even with a cautious outlook from the

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Speaker 1: carrier driven by the war.

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Speaker 3: Good morning Dan, Good morning Nathan. That's right. Delta shares

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Speaker 3: are up thirteen percent in the pre market. That's outstripping

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Speaker 3: their peers, United up around eleven percent and American Airlines

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Speaker 3: up just around ten percent in the pre market. The

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Speaker 3: company is omitting for your guidance in its earnings report.

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Speaker 3: On that cautious note, it does see over two billion

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Speaker 3: dollars increase in fuel costs this quarter. It's guiding low

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Speaker 3: teen revenue growth in this quarter as it notes strong demand.

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Speaker 3: Delta also says it will reduce capacity growth. First quarter

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Speaker 3: adjusted earnings did come in at sixty four cents a share.

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Speaker 3: Those beat estimates the despite the planes being slightly less

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Speaker 3: full than expected, and this is off the back of

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Speaker 3: yesterdays announcements where Delta seated increase baggage fees ten dollars

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Speaker 3: for the first and second bags fifty dollars for the

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Speaker 3: third as it navigates the higher fuel prices. Delta notes

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Speaker 3: it benefits from owning its own refinery and expects a

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Speaker 3: three hundred million dollar benefit from that, offsetting some of

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Speaker 3: the increased fuel costs. That is potentially one of the

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Speaker 3: reasons why these shares are almost flat since the end

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Speaker 3: of February, despite competitors down about sixteen or seventeen percent

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Speaker 3: over that period.

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Speaker 1: And we just got a pretty stunning headline from Exon

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Speaker 1: Mobile when it comes to the war's impact on their output.

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Speaker 3: That's right, so Exon announced that six percent of its

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Speaker 3: global production was knocked out in the first quarter by

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Speaker 3: the war. Those shares are down five percent in pre market.

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Speaker 3: Other oil majors Chevron, Tick, Our CVXES down about four percent,

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Speaker 3: and US Oil Company, US Energy Company, Occidental our own

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Speaker 3: XY down seven percent in pre market. That's with crude falling.

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Speaker 3: But we are starting to get a sense of the

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Speaker 3: size and scope of the damages in the Middle East.

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Speaker 3: Over half the outages that Exon House where I Liquid

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Speaker 3: natural Gas complex and Qatar, where Exon is a partner.

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Speaker 3: Two production lines were damaged, but the company is unable

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Speaker 3: to comment on how long before they returned to normal operations.

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Speaker 3: Qatar had previously estimated the damage will cost about twenty

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Speaker 3: billion dollars in lost revenue each year and it could

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Speaker 3: take five years to repair. So some of this infrastructure

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Speaker 3: damage getting hit as oil prices are going down.

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Speaker 1: Well, we should talk about some of the stocks that

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Speaker 1: are affected by oil consumption as they wait for some

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Speaker 1: of that fuel to get through the strait of horror moves.

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Speaker 3: That's right, So I'm keeping my eye on cruise lines.

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Speaker 3: Royal Caribbean up eight percent, Carnival up nearly ten percent,

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Speaker 3: Norwegian CRUs up nine percent in the pre market. These

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Speaker 3: are big users of crude. I did a quick calculation.

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Speaker 3: Carnival spent one point seven billion dollars last year on

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Speaker 3: fuel alone. It also gets hit because it consumer spend

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Speaker 3: more to fill up tanks. They have less money to

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Speaker 3: spend on things like holidays. So it has been under

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Speaker 3: pressure as oil has risen. On oil's reversal, we're seeing

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Speaker 3: a massive comeback on these oil users.

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Speaker 1: And the Nasdaq futures are leading the rally this morning.

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Speaker 1: Let's get into some of those tech heavy stocks.

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Speaker 3: That's right, so big name Nvidia up nearly four percent

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Speaker 3: in the pre market. Other chip makers Broadcom up four percent,

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Speaker 3: Intel up nearly five percent. These companies are also susceptible

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Speaker 3: to the hormose disruption, so a truce is a relief

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Speaker 3: for this space. Chip makers rely on helium, and Qatar

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Speaker 3: alone provides nearly a third of the world's supply. It's

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Speaker 3: critical for manufacturing chips and there's no substitute. Plus, as

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Speaker 3: a large energy consumer, AI has higher costs when electricity

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Speaker 3: prices jump, So right now we're seeing the AI space

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Speaker 3: bounce back on this relief rally.

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Speaker 2: This stock mover's report from Bloomberg Radio. Check back with

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Speaker 2: us throughout the day for the latest roundup of companies

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Speaker 2: making news on Wall Street and for the latest market

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Speaker 2: moving headline. Listen to Bloomberg Radio Live, catch us on YouTube,

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