11:46 AM EDT, 04/08/2026 (MT Newswires) -- All three major US stock indexes were up over 2.0% in late-morning trading Wednesday after the US and Iran agreed late Tuesday to a two-week ceasefire.

As part of the ceasefire agreement, Iran agreed to reopen the Strait of Hormuz for two weeks, but on Wednesday Iran halted the passage of oil tankers through the waterway as a result of Israeli attacks on Lebanon, Bloomberg reported, citing a report by Iran's semi-official Fars news agency. Iran is considering withdrawing from the ceasefire agreement if Israel continues to attack Lebanon, Bloomberg reported, citing the semi-official Tasnim news agency.

In company news, Delta Air Lines ( DAL ) reported Q1 non-GAAP earnings Wednesday of $0.64 per diluted share, up from $0.45 a year earlier and above the FactSet consensus analyst estimate of $0.58. Total Q1 operating revenue was $15.85 billion, up from $14.04 billion a year ago and above the FactSet consensus of $14.05 billion. For Q2, the company said it expects non-GAAP EPS of $1 to $1.50 and revenue growth in the low teens. Analysts polled by FactSet expect non-GAAP EPS of $1.56 on revenue of $17.21 billion. Delta's Q2 guidance assumes fuel at the forward curve as of April 2 and includes a refinery benefit of roughly $300 million. The all-in fuel price is expected to be around $4.30 per gallon in Q2, the company said. Delta shares were up 6.3% around midday.

Bain Capital's Bridged Data Centres has removed Megaspeed International from its Malaysian hub after it was accused by the US government of smuggling Nvidia ( NVDA ) chips, Bloomberg reported Wednesday, citing people familiar with the matter. Separately, Firefly Aerospace ( FLY ) and Nvidia ( NVDA ) said Wednesday they worked together to enable rapid on-orbit data analysis for a lunar imaging service using a specialized computing module. The hardware will be integrated into a Firefly orbital vehicle scheduled to launch during a lunar mission in late 2026, the companies said. Nvidia ( NVDA ) shares were up 1.9%, while Firefly shares were up 8.4%.

Bed Bath & Beyond ( BBBY ) said Wednesday it has signed a preliminary agreement to acquire the equity interests and assets of F9 Brands for nearly $150 million. The purchase price includes $37 million in cash and about 16 million shares of Bed Bath & Beyond ( BBBY ) at $7 each, the company said. The deal is expected to close after the company's stockholder meeting in May, Bed Bath & Beyond ( BBBY ) said. Shares of the company were up 14.5%.

Levi Strauss (LEVI) reported fiscal Q2 adjusted earnings late Tuesday of $0.42 per diluted share, up from $0.38 a year earlier and above the FactSet consensus of $0.37. Fiscal Q1 revenue was $1.74 billion, up from $1.53 billion a year ago and above the FactSet consensus of $1.65 billion. For fiscal 2026, the company said it expects adjusted EPS of $1.42 to $1.48, up from its previous guidance of $1.40 to $1.46. Levi expects revenue growth of 5.5% to 6.5% during the period, up from its previous guidance of 5% to 6%. Analysts polled by FactSet expect adjusted EPS of $1.47. The company also said Chief Financial and Growth Officer Harmit Singh will retire but will retain his role until a successor is appointed. Levi shares were up 10.3%.

Price: 69.65, Change: +4.02, Percent Change: +6.13