Delta (DAL) news that moved the stock

What happened

Oil prices plunged Monday on the strongest signs yet of U.S.-Iran diplomatic progress: WTI crude fell as much as 8.1% to $95.70 a barrel and Brent as much as 8.5% to $108.83, wiping out Friday's late surge and more as WTI slipped back under $100. The catalyst was a burst of diplomatic signals: the Wall Street Journal reported that Vice President JD Vance sent a message to Mohsen Rezaei, secretary of Iran's Supreme National Security Council, to restart peace talks; Iranian President Masoud Pezeshkian said Supreme Leader Ayatollah Mojtaba Khamenei had granted the government 'certain authorities' to pursue negotiations; and Iranian negotiators circulated a draft proposal after days of talks with Qatari mediators, with a follow-up meeting possible. The slide was reinforced on the supply side when seven OPEC+ producers agreed Sunday to keep December production targets unchanged, declining to add cuts that would have supported prices.

What happened

The Federal Trade Commission on Oct. 28 issued Section 6(b) orders to nine airlines, ride-hailing, delivery and retail companies — Delta, United, JetBlue, Lyft, Uber, DoorDash, Instacart, Target and Walmart — demanding detailed information on how they use consumers' personal data to set prices and, for ride-hailing and delivery platforms, how they use drivers' personal data to set compensation. The FTC wants to assess whether prices for tickets, rides, food deliveries and other products vary from person to person based on loyalty-program participation or AI/algorithmic analysis of personal data. FTC Chairman Andrew N. Ferguson said: 'We intend to scrutinize the opaque methodology that some companies in these industries may be using to determine how much consumers pay or how much gig workers are paid for the same product or service.' The Commission has not accused any of the nine of breaking the law, and recipients have 45 days to respond. Delta responded that it has 'zero tolerance for discriminatory or predatory pricing' and that no fare product targets customers with individualized offers based on personal data; JetBlue said it doesn't use personal information or web-browsing history to set individual prices.

What happened

United Airlines (UAL) reported third-quarter earnings of $2.54 per share on revenue of $18 billion for its third quarter, per Investor's Business Daily. Earnings missed Wall Street's target by 3 cents while sales were in line with estimates, as soaring fuel prices hurt profits during the quarter. The carrier's profit outlook for the current quarter came in at $1 per share at the midpoint, well below analyst targets of $1.64. Despite the miss and the soft guide, United shares got off to a poor start in early trade but then reversed and jumped nearly 4% as the price of oil receded during the session. The stock remained below its 50-day moving average.

What happened

Delta Air Lines reported Q3 results Friday morning that missed Wall Street estimates: EPS of $1.72 versus $1.77 expected, on revenue of $17.6 billion versus $17.7 billion expected, per IBD MarketSurge. The carrier also slashed its 2026 profit outlook, citing elevated fuel prices. Shares tumbled nearly 2% premarket. The report lands with crude still elevated after this week's U.S.-Iran shipping escalation, and with the 10-year Treasury yield back up to 5.26%.

What happened

NBC News, citing three US officials, disclosed Monday, Sept. 28 that an Iranian anti-ship cruise missile struck a vessel in the Strait of Hormuz on Sept. 14, injuring eight US Marines (seven enlisted, one officer) with smoke inhalation and possible traumatic brain injuries; all returned to duty shortly after, and the Pentagon had never publicly announced it. The vessel was not a Navy ship — officials called it a "maritime vessel" with a battalion landing team aboard. In parallel, per Saudi Press Agency statements carried by the WSJ's Sept. 28 oil report, Houthi ballistic missiles and drones were launched toward Riyadh and Khamis Mushait; Saudi air defenses intercepted and destroyed a ballistic missile toward Khamis Mushait on Saturday. This follows the Sept. 19 Houthi missile-and-drone attack on Riyadh that set a jet-fuel depot ablaze near King Khalid International Airport, triggering flight cancellations and terminal clearances.

What happened

A US official told CNN (reported Monday, Sept. 28, by Kristen Holmes and Alayna Treene) that President Donald Trump is willing to give Iran sanctions relief and release frozen funds as part of a final deal — but only if Tehran delivers "concrete progress" on the nuclear issue. The official said the US and Iran are holding "positive and constructive discussions through the mediators" ahead of more talks expected this week, with special envoy Steve Witkoff, Jared Kushner, Vice President JD Vance, and Secretary of State Marco Rubio leading the US side. After the report hit, crude gave up nearly all of Monday's 4%+ gains — WTI reversed to a low of $91.31 and Brent to $103.80 — and US stock indexes recovered part of their early losses, though they still closed lower: S&P 500 -0.77%, Dow -0.67%, Nasdaq 100 -1.08%.