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Why Carnival and Other Cruise Line Stocks Are Bouncing Back Today

Why Carnival and Other Cruise Line Stocks Are Bouncing Back Today

Joining in the rally (surprisingly) are cruise stocks Carnival (NYSE: CCL), Royal Caribbean (NYSE: RCL), and Norwegian Cruise Line Holdings (NYSE: NCLH). On Friday, industry bellwether Carnival announced a massive miss on its third-quarter earnings report -- $0.65 per share in losses, much worse than Wall Street's predicted loss of $0.13 per share -- and revenue that was a whopping $800 million below projections. Adding to investors' misery, Carnival warned that the fourth quarter is shaping up to be below average for bookings, and that the company is anticipating another loss.