Yahoo Finance Plus The cruise lines have canceled select sailings but Royal Caribbean and Norwegian Cruise Line shareholders should take that as a positive.
Shares of cruise line stocks plunged in trading on Tuesday as the market continues to grapple with economic uncertainty. Industry giant Carnival (NYSE: CCL) (NYSE: CUK) was down as much as 11.3% in trading today, Royal Caribbean Cruises (NYSE: RCL) fell 10%, and Norwegian Cruise Line Holdings (NYSE: NCLH) dropped 11.8%. The news continues to be murky at best with companies warning of slowing sales in a variety of sectors, consumers experiencing inflation, and the Federal Reserve continuing to indicate that it will keep raising interest rates.
"Are you kidding me?!" Vergara's former co-star Sarah Hyland reacted to the racy shot.
Two months ago, computer memory maker Micron (NASDAQ: MU) reported its financial results for fiscal Q2 2022, and the news was incredible -- sales were up 25% year over year, and net profits more than tripled. Three weeks ago, semiconductors specialist Advanced Micro Devices (NASDAQ: AMD) reported some earnings of its own, and again the news was great -- sales up 71% and profits rising 42%. Heading into earnings day, Nvidia stock is down 5.3% at 11:10 a.m. ET Tuesday, and investor worry is beginning to bleed over into other tech stocks.
After a brief respite on Monday, shares of electric-vehicle (EV) leader Tesla (NASDAQ: TSLA) turned back south again on Tuesday. Tesla has announced plans to resume full-capacity production of EVs at its Shanghai Gigafactory as early as today. If it succeeds in getting production back up to full speed, it could be churning out nearly 950,000 vehicles per year in China, putting it back on track toward its goal of producing 1.5 million EVs per year.
To put it tactfully, cruise ship operator stocks haven't been very popular with investors over the past few years. The prognosticator lowered his price targets for both Carnival and Norwegian Monday morning before market open. In his opinion, Carnival is now worth $18 per share; previously, Didora's level was $22.
Shares of Fisker (NYSE: FSR) fell as much as 15% on Tuesday after the electric vehicle manufacturer announced plans to sell $350 million worth of additional shares into the market. The move comes just weeks after company officials implied they would not have to go to market with additional shares, and it likely caught investors off guard. Fisker is one of a number of electric vehicle start-ups attempting to bring an automobile to market.
The slower pace of new home sales in April was similar to a slowdown in 2018, said Doug Duncan, chief economist at Fannie Mae.
These passive income powerhouses will bring in between $101 million and $904 million annually for Berkshire Hathaway.
This super investor is going against the herd. Maybe you should, too.
It must be getting increasingly difficult for investors in Plug Power (NASDAQ: PLUG) to hold their nerve. The hydrogen stock sank Tuesday morning and was down by 8.9% as of 1 p.m. ET. With that drop, Plug Power stock has now lost almost 30% of its value in just the month of May.
Many stocks in the technology sector have been sliding over the past several weeks and months. Rivian Automotive (NASDAQ: RIVN) was one that reversed its downtrend after it reported first-quarter results on May 11. Momentum off the stock's all-time low continued when the CEO added another 1 million shares to his holdings, and the company made progress to solidify plans and incentives with the state of Georgia for a second production facility.
Shares of GameStop (NYSE: GME) are tumbling 6.7% at 10:40 a.m. EST on Tuesday, a day after the video game retailer launched its first digital wallet, which allows holders to easily access and trade their cryptocurrencies and non-fungible tokens (NFTs). The wallet will also enable transactions on GameStop's NFT marketplace, which the retailer expects to launch in its fiscal second quarter. GameStop's turnaround is predicated on a transition to digital assets.
Shares of Shopify (NYSE: SHOP) were sliding today as the e-commerce software company was one of several tech stocks to fall in sympathy with Snap (NYSE: SNAP), which warned that second-quarter results would come in below its earlier guidance and blamed a deteriorating macroeconomic environment for the downward revision. As of 1:35 p.m. ET, Shopify stock was down 10.4%, while Snap had plunged 41.9% at the same time.
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Yahoo Finance Live anchors discuss social media stocks tanking premarket after Snap's CEO warned about earnings.
What happened Shares of Novavax (NASDAQ: NVAX) were tumbling 9.7% as of 11:28 a.m. ET on Tuesday. The company didn't make any announcements that would explain the decline. Instead, Novavax's fall appears to be primarily a result of the overall stock market turmoil with all of the major market indexes sinking today.
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Few events capture traders' attention like a blockbuster stock split. If there's one stock that could use a positive catalyst, it's Tesla (NASDAQ: TSLA). The automaker's annual investor meeting will take place in early August, at which time the shareholders will likely vote to authorize an increase in the share count.
The market spiral will end “when the Fed puts a line in the sand on inflation and says it will do ‘whatever it takes,’” says billionaire investor Bill Ackman.
Our call of the day comes from Jefferies analysts, who round up some small to medium-size stocks that have been hit unreservedly hard in this market rout.
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