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Benzinga
Benzinga
Avi Kapoor

Crude Oil Down Over 2%; Delta Air Lines Posts Upbeat Earnings

Brent,Crude,Oil,Price,Moving,Up

U.S. stocks traded mostly higher midway through trading, with the Dow Jones index gaining more than 200 points on Thursday.

The Dow traded up 0.52% to 44,690.50 while the NASDAQ declined 0.03% to 20,605.11. The S&P 500 also rose, gaining, 0.23% to 6,278.25.

Check This Out: Top 2 Tech Stocks That May Plunge This Month

Leading and Lagging Sectors

Health care shares jumped by 1.2% on Thursday.

In trading on Thursday, communication services stocks dipped by 1%.

Top Headline

Delta Air Lines, Inc. (NYSE:DAL) posted stronger-than-expected second-quarter results and reinstated its full-year 2025 guidance.

Operating revenue for the quarter was $16.65 billion, flat from a year ago but above the consensus estimate of $16.18 billion. Adjusted operating revenue rose 1% year over year to $15.51 billion.

Adjusted earnings per share were $2.10, down 11% from the year-ago period but topping expectations of $2.05. The airline's adjusted average fuel price fell to $2.26 per gallon, compared with $2.64 last year.

Equities Trading UP
           

  • Above Food Ingredients Inc. (NASDAQ:ABVE) shares shot up 425% to $1.87 on continued strength following its merger agreement with Palm Global on Monday.
  • Shares of DallasNews Corporation (NASDAQ:DALN) got a boost, surging 217% to $13.51 after the company announced Hearst will acquire it for $14 per share.
  • BIT Mining Limited (NASDAQ:BTCM) shares were also up, gaining 111% to $5.20 after the company announced it plans an investment up to $300 million to expand into the Solana ecosystem.

Equities Trading DOWN

  • Mereo BioPharma Group plc (NASDAQ:MREO) shares dropped 33% to $1.9600. Ultragenyx Pharmaceutical and Mereo BioPharma on Wednesday announced that the randomized, placebo-controlled Phase 3 portion of the Orbit study evaluating UX143 (setrusumab) in pediatric and young adult patients with osteogenesis imperfecta (OI) is progressing toward a final analysis around the end of the year, consistent with the original plan.
  • Shares of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) were down 27% to $30.45. Ultragenyx Pharmaceutical and Mereo BioPharma on Wednesday announced that the randomized, placebo-controlled Phase 3 portion of the Orbit study evaluating UX143 (setrusumab) in pediatric and young adult patients with osteogenesis imperfecta (OI) is progressing toward a final analysis around the end of the year, consistent with the original plan.
  • CURRENC Group Inc. (NASDAQ:CURR) was down, falling 30% to $1.4250 as the company announced the pricing of $60 million underwritten public offering at a price of $5/share.

Commodities

In commodity news, oil traded down 2.3% to $66.79 while gold traded up 0.2% at $3,326.70.

Silver traded up 1.2% to $37.075 on Thursday, while copper rose 2.3% to $5.6115.

Euro zone

European shares were mixed today. The eurozone's STOXX 600 rose 0.49%, while Spain's IBEX 35 Index fell 0.70%. London's FTSE 100 gained 1.21%, Germany's DAX 40 slipped 0.36% and France's CAC 40 gained 0.22% during the session.

Asia Pacific Markets

Asian markets closed mixed on Thursday, with Japan's Nikkei falling 0.44%, Hong Kong's Hang Seng gaining 0.57%, China's Shanghai Composite gaining 0.48% and India's BSE Sensex falling 0.41%.

Economics

  • U.S. initial jobless claims declined by 5,000 from the previous week to 227,000 in the first week of July, compared to market estimates of 235,000.
  • U.S. natural gas stocks rose 53 billion cubic feet for the week ended July 4.

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