|Bid||10.58 x 800|
|Ask||10.63 x 1300|
|Day's Range||10.18 - 11.48|
|52 Week Range||7.08 - 55.13|
|Beta (5Y Monthly)||1.39|
|PE Ratio (TTM)||2.52|
|Earnings Date||Jun 17, 2020 - Jun 21, 2020|
|Forward Dividend & Yield||2.00 (16.26%)|
|Ex-Dividend Date||Feb 19, 2020|
|1y Target Est||44.00|
The cruise industry is scrambling to stay afloat during what increasingly looks like an extended coronavirus-driven freeze on voyages, but a hoped-for lifeline so far hasn’t been extended.
Monday trading may start in the red, but it doesn’t look as bad—or as volatile—as recent sessions. Covid-19 continues to drive the market.
Carnival Corp's luxury cruise ships operator Cunard said on Monday it would extend the suspension of all voyages by a month to May 15 due to the coronavirus pandemic. Carnival, also the operator of two coronavirus-stricken Princess cruises, has already temporarily suspended several of its ships due to concerns over the rapidly spreading COVID-19 crisis earlier this month. "The impact of COVID-19 is affecting personal routines and businesses as well as placing significant travel restrictions around the world," said Simon Palethorpe, president, Cunard.
Carnival Corp.'s Cunard subsidiary said Monday it is extending the suspension of all cruises as a result of the COVID-19 pandemic for an additional month, from April 11 to May 15. All customers impacted by the suspensions will get a 125% future cruise credit, which can be redeemed on any cruise sailing before the end of March 2022, as long as the booking is made before December 2021. Cunard operates the luxury cruise ships Queen Mary 2, Queen Victoria and Queen Elizabeth. Carnival's stock, which dropped 5.8% in premarket trading, has plunged 71.8% over the past three months through Friday, while the S&P 500 has declined 21.1%.
(Bloomberg) -- For passengers on a Holland America Line cruise ship, a fun-filled voyage on the luxury liner is quickly turning into a nightmare with deteriorating conditions on board and fears of a full-blown coronavirus outbreak after four travelers died and two others were infected.“We are stuck on this death ship,” said Yadira Garza, who is on board with her newly-wed husband. “We are freaked out and terrified that we will be infected too. It’s just a matter of time if we stay on the ship.”Passengers on the Zaandam, currently off the coast of Panama, say they are desperate to get off the liner after Chile wouldn’t allow the vessel to dock. The company also said all ports on the ship’s route have also refused entry. Guests and their family members have taken to Twitter to plead for help.Then came some good news on Saturday: the ship’s captain announced Holland America is moving some passengers to a sister ship, the Rotterdam, because so many crew members have gotten sick, said Garza. The Panamanian government also agreed to let the Zaandam sail through the Panama Canal, reversing an earlier decision to block passage.On Sunday, small boats ferried passengers who’d been deemed healthy after answering a short medical questionnaire, and didn’t have a fever, from the Zaandam to the Rotterdam. Crew members took passengers in groups of 20 or so, instructing them to sit a few feet apart and not touch anything as a sort of on-board social distancing, said Andrea Bergmann Anderson, who watched the maneuvers through the sealed window of her cabin inside the Zaandam.“They needed to get people off this ship to relieve the pressure because our crew is getting sick,” said Anderson, 63. She left her home near Cincinnati with her husband on March 4 to take the cruise, was denied the transfer to the ship anchored nearby after she told ship medical officers she’d been getting over a minor head cold when she started the journey. Anderson said the ship’s crew seems to be doing the best they can. She’s trying to stay calm and make the best of her confinement in her cabin. “Panicking doesn’t help anyone,” she said.Some passengers on the Zaandam said they were confident they would come out of the ordeal safe and sound. Ian Rae posted video of his wife Moven Rae, standing on her cabin balcony, the Rotterdam visible in the background, smiling. She said she they are being well-fed and cared for as best the crew can. “We don’t feel trapped,” she said. “We feel as if we are being kept safe in our cabin.”Meanwhile, relatives of crew members on board the ship say they are being asked to work despite falling sick, or shortly after recovering from fever. Food is being delivered uncovered, with Garza describing finding hair and eyelashes on their plates of food.Holland America, a subsidiary of Carnival Corp., didn’t respond to an emailed request for comment on conditions for crew aboard the ship. It said in a tweet it’s working with Panamanian authorities on the transit.The Zaandam is the latest vessel owned by Carnival, the biggest cruise line in the world, to be struck with outbreaks of coronavirus, plunging the ships into dramatic public health crises that gripped the world’s attention. Now, some angry passengers say they weren’t screened adequately, even as governments, including the U.S., advised citizens to avoid cruise ships.Garza and her husband say they were reassured by Holland America that health screenings and temperature checks would be conducted on passengers getting on board. Health screenings consisted of a self-reported questionnaire of symptoms, she said, and they didn’t see any temperature checks done.“We thought that since it’s a very well-known company, they would take severe measures,” said Garza.The couple, both in their 30s and from Monterrey, Mexico, boarded the ship March 7 in Buenos Aires for their honeymoon. The journey was supposed to have ended a week ago at San Antonio, Chile.Like Anderson, they’re also not getting off anytime soon. Joel Gonzalez, Garza’s husband, had a slight and brief fever a few days ago and they’ve been told they wouldn’t be transferred to the Rotterdam. They are seeking help from Mexican consular officials.The captain of the ship, originally carrying 1,243 passengers and 586 crew, asked guests to quarantine themselves on March 22 after a number of people on board reported influenza-like symptoms, said the cruise line. Four “older” passengers on the ship died and two individuals have tested positive, it said Friday, heightening anxiety on board.A total of 53 guests and 85 crew members have reported to the medical center with flu-like symptoms, it said. And when Garza complained about long waits for service, a ship doctor told her Saturday that 40% of the crew are now sick, she said.Three relatives of crew members say they’re worried that their family members working on board and many of their co-workers haven’t been tested. Two of them say their sick relatives are being asked to work, with many of them working overtime. Relatives of crew members have been discussing working conditions via a message group and they have asked not to be identified because crew members were recently instructed to not speak with the media about conditions on board.Staffing ShortageIn an announcement to passengers on Saturday, the captain seemed to acknowledge the staffing shortage. The Rotterdam is delivering medical supplies and kits to test passengers and crew for Covid-19.“We have to re-balance the workload of the crew,” the captain said over the loudspeaker, in explaining the transfer of passengers.There’s growing concern about crew members spreading coronavirus. Crew members on two earlier Princess ships that had Covid-19 outbreaks hastened the spread of the disease to passengers, according to the Centers for Disease Control and Prevention studies released earlier this month.Two Costa Ships Begin Disembarking Sick Crew Members in MiamiAnother cruise vessel, the Costa Diadema, has arrived ahead of schedule near an Italian port already busy handling other cruise ships, Italy’s transportation ministry said on Sunday. One crew member has symptoms that resemble coronavirus, the ministry said, and the ship will be checked thoroughly at another site.On the Zaandam, like Garza and her husband, some passengers will be stuck on the ship, and may stay on as it sails through the canal and the Caribbean Sea, until it finally reaches Fort Lauderdale, Florida.Still, it may not be a straight-forward disembarkation. Michael Udine. a commissioner for Broward County, where Fort Lauderdale is located, said at a special meeting Tuesday that he wanted to propose a motion to deny the ship’s entry, Local 10 News reported. Broward has 820 coronavirus cases and 11 deaths so far, according to Johns Hopkins data.After Zaandam’s stop in Panama, he said there should be strict protocols at his county’s ports. “There must be a strict plan put in place,” he said. “It must provide for the safety of all impacted.”Lance Hutton, an 80-year-old retiree from Missouri, says he and his wife have been wracked with anxiety the past two weeks as the Zaandam sailed from its last port of call, Punta Arenas, on the southern tip of South America. Chile refused to let passengers get off and it sailed for days to the waters off Valparaiso, 90 minutes west of Santiago. The ship took on fuel and supplies, and was denied permission to dock before reaching Panama.The transfer of passengers to Rotterdam alongside the Zaandam was “to spread us out,” Hutton said, relating the captain’s announcement in which he said more people were falling sick, many with respiratory ailments.The couple, who don’t have any illness symptoms, thought they were finally getting off the ship. Instead, they were told by an officer aboard they are being denied a transfer because Hutton uses a machine to help him breathe during sleep and combat snoring. “Now, we just want to get off this ship and go home,” said Hutton in a telephone interview from his little cabin with a window. “That’s all we want.”(Updates with passenger comments starting in fifth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Hundreds of passengers on a cruise ship, where four people have died and over 130 others have influenza-like symptoms, including at least two with the coronavirus, will be transferred to a sister ship, Panamanian authorities said on Saturday. "The ship which could not dock at any port in South America will remain in Panamanian waters 8 nautical miles from the coast, since it did not receive approval from Panamanian health authorities to cross the (Panama) Canal," Panama's maritime authority said. It said 401 asymptomatic passengers will be transferred from cruise operator Holland America Line's 238-meter (781-foot) MS Zaandam vessel to the Rotterdam, a sister ship.
Cunard Announces Pause to Voyages Until May 15, 2020
After several sharp days of rallying, investors were greeted with harsh losses in the stock market today.The SPDR S&P 500 ETF (NYSEARCA:SPY) opened lower by about 3% and fell almost 4% at its lows. However, the market regained its footing for most of the afternoon, as investors awaited the House result for the $2.2 trillion stimulus bill -- the CARE Act.The House vote passed, putting it up to President Donald Trump to push through. With less than an hour to go in the regular trading session, Trump tweeted that he "will be signing" it at 4 p.m. ET in the Oval Office.InvestorPlace - Stock Market News, Stock Advice & Trading TipsWhich he did. CARE Passes, Now What?Where we go from here will be interesting now. Do investors view this as a "sell-the-news" event? It's not as if we didn't know about the $2.2 trillion plan until Friday afternoon. It's been in the news all week, as the Senate gave the green light and sent it to the House. Or will investors view this as the "missing piece" and one less unknown cleared up about the current situation, giving them confidence to continue bidding up equities? * 10 Undervalued Stocks Crashing on the Coronavirus Pandemic With the CBOE Volatility Index (VIX) still north of $60, we'll find out soon enough.Passing the CARE act will provide relief across the board. Money will be dispersed to hospitals, citizens, small and midsize businesses and corporations. It comes as the U.S. becomes the most infected country in terms of confirmed coronavirus cases.The U.S. started the month with only 75 confirmed cases and is now just shy of 100,000 cases. With the numbers continuing to grow rapidly, it's having a catastrophic impact on virtually everything and everyone.Many retailers are stepping up to help the fight against the coronavirus outbreak. Companies such as Canada Goose (NYSE:GOOS), Gap (NYSE:GPS), HanesBrands (NYSE:HBI) and Ralph Lauren (NYSE:RL) are beginning to produce face masks, scrubs and gowns for the growing shortage at most hospitals. Target (NYSE:TGT), Lowes (NYSE:LOW) and Home Depot (NYSE:HD) are pulling their weight too, as they redirect supply to healthcare workers. Movers in the Stock Market TodayCruise ship companies are hurting, with many left out of the stimulus package. That's despite President Trump wanting to help major cruise lines. Companies such as Carnival Cruise (NYSE:CCL), Norwegian Cruise Line (NYSE:NCLH) and Royal Caribbean (NYSE:RCL) don't meet the criteria for help as the companies are not incorporated in the U.S.General Motors (NYSE:GM) dealt out tough news to its 69,000 salaried employees. The automaker will cut 20% of their salaries starting April 1st. There is a slight bright side though, as employees will be repaid with no interest in a lump sum no later than March 15, 2021. About 6,500 other employees who can't work from home will be taking a paid leave of absence collecting 75% of their pay and keeping their health care benefits. Even CEO Mary Barra will be taking a 30% salary cut along with other GM executives. GM's reopen date for its North American plants is still TBD.ICYMI -- Ford (NYSE:F) plans to start re-opening its North American plants next month, while GM recently tapped $16 billion from its credit lines.Tesla's (NASDAQ:TSLA) Nevada battery plant -- Gigafactory 1 -- will be cutting about 75% of its on-site workers. This comes after the company's battery partner, Panasonic said it will decrease operations because of the coronavirus. Tesla will also be suspending production of its New York solar roof tile factory as it begins producing ventilators. The company's Fremont factory has already temporarily suspended production.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell did not hold a position in any of the aforementioned securities. More From InvestorPlace * America's Richest ZIP Code Holds Wealth Gap Secret * 10 Stocks to Buy That Will Benefit From Coronavirus Mayhem * 5 Bank Stocks to Buy Now Because This Isn't 2008 Again * 12 Stocks to Buy That Are Already Positive The post Stock Market Today: The $2 Trillion Stimulus Check Is In the Mail appeared first on InvestorPlace.
Four passengers died aboard Holland America's Zaandam cruise ship, and two people on board tested positive for the coronavirus.
(Bloomberg) -- Carnival Corp. is in talks to raise as much as $7 billion as the cruise ship operator seeks to shore up its finances amid a halt on global travel, according to people with knowledge of the matter.The company, looking to raise cash to improve liquidity as the Covid-19 pandemic upends its business, is being advised by lenders including JPMorgan Chase & Co., said the people, who requested anonymity because the matter is private.Carnival is discussing issuing a mix of debt and equity, the people said. Options include issuing $3 billion to $7 billion in senior secured first-lien debt, implying a loan-to-value ratio of about 25%, they said. The company is also weighing issuing $1.5 billion in convertible notes and $1 billion to $2 billion in common equity, one of the people said. The situation remains fluid, they said.Representatives for Carnival and JPMorgan declined to comment.Carnival fell as much as 21% on Friday after a late change to the U.S. stimulus package limited relief for companies not incorporated in the U.S. The largest cruise industry player, Carnival is incorporated in Panama but operates out of Miami.The stock has fallen 71% this year and was trading at $14.66 at 2:41 p.m. in New York, giving it a market value of about $9.6 billion.Carnival said this month it was looking for additional financing after providing notice to borrow about $3 billion under an existing credit facility. It also said it expects to post a loss this fiscal year.(Updates with additional details of financing starting in first graph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The plight of airlines commands much focus, as their businesses have all but come to a stand-still amid the coronavirus pandemic. But a vast number of the nation’s small businesses as well as larger hotel chains are fighting for survival, too.
With news of a possible bailout, the cruise companies' stocks had rebounded this week. But those gains have been lost quickly.
U.K. stocks were hammered on Friday bringing a three-day rally to an abrupt end as global coronavirus cases spiralled and prime minister Boris Johnson tested positive.
Carnival, Royal Caribbean, and Norwegian Cruise Lines, all of which are incorporated abroad, don’t qualify for financial assistance as outlined by the Senate’s $2 trillion stimulus bill.
MUMBAI/SEOUL, March 27 (Reuters) - Crashing markets are driving the biggest rush from Asian retail investors into stocks in a decade or more, brokers say, as bargain-hunting and a fear of missing out prompts a scramble to "buy the dip". Indian brokerages say they have never signed on so many new customers so quickly, while deposits at their South Korean peers have jumped to a record high as investors hunt for bargains after a $12 trillion wipeout in world stocks. "If people were waiting for a pullback, well they got it and then some," said Chris Brankin, chief executive at brokerage TD Ameritrade in Singapore, where a 50% monthly jump in new accounts was the best since setting up there nine years ago.
(Bloomberg) -- Sick crew members aboard two Costa Cruises ships are disembarking in Miami after failing to find other ports that would take them.A Miami-Dade Fire Rescue boat took several people off one of the ships, which was anchored away from port, and brought them to the Miami Beach Coast Guard station, a spokesman for the county said. The passengers had left earlier.Costa, a division of cruise-line giant Carnival Corp., had been struggling to find a port in the Caribbean that would accept those on board, before finally working out a deal with authorities in Miami, the company said Thursday.As many as 13 crew members on the Costa Magica and Costa Favolosa who need medical attention will receive treatment there. The ships will remain three miles offshore until Saturday as Costa organizes flights to Europe and Asia to repatriate the majority of the crew members. A small number will remain on board to maintain the vessels.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Peter Greenberg, CBS News Travel Editor, joins On The Move to discuss how the travel industry has been impacted by the coronavirus outbreak.
Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]
As a $2 trillion relief package makes its way through the U.S. Congress, some investors are finding bargains in consumer discretionary stocks that have been battered in the wake of the coronavirus pandemic. Provisions in the bill aimed at expanding unemployment benefits and supporting industries hit hardest by the pandemic - and thus keeping consumers' paychecks intact - would provide a boost to the sector, said Brian Jacobsen, a multi-asset strategist at Wells Fargo Asset Management. Nancy Tengler, chief investment officer of Laffer Tengler Investments, said her firm recently bought shares in Chipotle Mexican Grill Inc and off-price retailer TJX Companies Inc, and added to positions in Starbucks Corp and McDonald's Corp.
The $2 trillion federal coronavirus bailout package under consideration in Congress would restrict dividends for those companies receiving loans, CNBC reported early Wednesday afternoon. There would also be restrictions on buybacks.
The S&P 500 was set to open lower on Wednesday after a strong rebound in the previous session as optimism about an imminent $2 trillion coronavirus package waned, with investors still concerned about the lasting economic hit from the pandemic. After the White House and Senators agreed on a deal to aid businesses and millions of Americans hit by the health crisis, futures briefly surged but soon reversed course as traders said much of the stimulus had been priced into financial markets.
U.S. stock index futures fell on Wednesday after a strong rebound in the previous session, as an imminent $2 trillion rescue package failed to completely allay investor concerns over the economic threat from the coronavirus pandemic. After the White House and Senators agreed to the deal to aid businesses and millions of Americans hit by the health crisis, futures briefly surged but soon reversed course as traders said much of the stimulus had been priced into financial markets. On Tuesday, the Dow Jones had soared over 11% in its best day since 1933, while the S&P 500 jumped 9.4%, recouping about $1.8 trillion in market value.
Greg Butler was rushed to hospital with COVID-19 within days of getting home to self-isolate after being allowed off the Ruby Princess cruise liner in Sydney, one of more than 130 passengers who tested positive in Australia's worst coronavirus outbreak. The 56-year-old Butler had been holidaying with his partner, Robin Russ, who remains in isolation. "I tested negative and he tested positive," Russ said over the telephone from the apartment they moved to for quarantine.
Australia is grappling with an accelerating number of coronavirus infections that political leaders warned on Wednesday could start overwhelming intensive care units, as case numbers across the country surged past 2,250. Victorian Premier Daniel Andrews said on Wednesday that if the same long queues appearing outside offices of the main welfare agency, Centrelink, started occurring at hospitals, there would be fatal consequences.