Key Takeaways U.S. equities were mixed at midday as a strong earnings report from Delta Air Lines boosted travel-related stocks. WK Kellogg agreed to be purchased by chocolate maker Ferrero for $3.1 billion.

Delta Air Lines said on Thursday its bookings have stabilized after a sharp pullback in March and April, but are at a lower level than the company's estimates at the start of the year.

For the most recent quarter, analysts expect Delta to report earnings of $2.03 per share on revenue of $16.18 billion for the upcoming quarter. This reflects a decrease compared to the same quarter last year when the company reported earnings of $2.36 per share on revenue of $16.66 billion.