|Bid||0.3600 x N/A|
|Ask||0.5500 x N/A|
|Day's Range||0.3600 - 0.3600|
|52 Week Range||0.3200 - 0.3600|
|Beta (5Y Monthly)||0.11|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. Insider Monkey finished processing 821 13F filings submitted by hedge funds and prominent investors. These filings show these funds' portfolio positions as of March 31st, 2020. […]
Shares of major cruise lines sank in Friday trading after Cruise Lines International Association (CLIA) announced a voluntary suspension of operations from U.S. ports until September 15 due to the COVID-19 outbreak. The current no-sail order was set to expire on July 24. "[I]t is increasingly clear that more time will be needed to resolve barriers to resumption in the United States," the association said in a statement. The news sent shares of Norwegian Cruise Line Holdings Ltd. down 7.5% in Friday trading. Carnival Corp. stock was down 6.4%. And Royal Caribbean Cruises Ltd. shares fell 7.3%. Al three are members of CLIA. Cruise line stocks have taken a beating in 2020, with Norwegian down 69.3% for the year to date, Carnival down 65.2% and Royal Caribbean taking a 58.6% tumble. The S&P 500 index is down 4.5% for 2020 so far.
Carnival Cruise reported worse than expected earnings results amid the COVID-19 pandemic. Yahoo Finance's Emily McCormick joins Melody Hahm to weigh in.
Investing.com - Carnival (NYSE:CUK) ADS reported on Thursday second quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
U.S. stocks fell at the start of Thursday after the number of Americans filing for unemployment benefits stayed stubbornly high, casting doubt on hopes of a swift economic rebound. The S&P 500 was down 0.4% to 3,101. The Dow Jones Industrial Average retreated 169 points, or 0.7%, to 25,951. The Nadsdaq Composite fell 3 basis points to 9,908. Jobless claims rose by 1.5 million in the latest week, above the 1.3 million estimated by MarketWatch-polled analysts. Investors are also monitoring the trajectory of COVID-19 infections across the U.S. as a number of states including Texas and Florida recently reporting their highest daily increase in cases. In company news, shares of Carnival Corp. tumbled after the cruise operator reported a wider-than-expected fiscal second-quarter loss and revenue that fell more than forecast.
Shares of Carnival Corp. dropped 3.6% in premarket trading Thursday, after the cruise operator reported a wider-than-expected fiscal second-quarter loss and revenue that fell more than forecast, but said it was seeing growing demand from new booking for next year. For the quarter to May 31, the company swung to a net loss of $4.37 billion, or $6.07 a share, from net income of $451 million, or 65 cents a share, in the year-ago period, as cruise operations had been halted for most of the quarter because of the COVID-19 pandemic. Excluding non-recurring items, such as a $2 billion of impairment charges, the adjusted loss per share was $3.30, compared with the FactSet consensus of $1.52. Total revenue fell to $700 million from $4.8 billion, to miss the FactSet consensus of $809 million. As of May 31, about half the guests with bookings have requested cash refunds. For 2021, capacity available for sale are within historical ranges, but at prices that are down in the low to mid-single digit percentage ranges. Booking volumes for 2021 for the six weeks ended May 31 were "meaningfully behind" the prior year, but volumes for the six weeks ended May 31 saw an improvement over the prior six weeks. Separately, Carnival said it plans to accelerate the removal of ships this year which were previously expected to be sold in coming years, with 6 ships expected to be disposed of in the next 90 days. The stock has more than doubled (up 105.3%) over the past three months through Wednesday but has tumbled 62.4% year to date, while the S&P 500 has slipped 3.6% this year.
Yahoo Finance’s Adam Shapiro and Julie Hyman break down Monday’s trending headlines.
To no one's surprise, cruise liners like Carnival (NYSE:CCL, NYSE:CUK), Royal Caribbean Cruises (NYSE:RCL) and Norwegian Cruise Line (NYSE:NCLH) have been especially hurt by the novel coronavirus. At this point, they're all interchangeable. However, Carnival is notable for its now notorious Diamond Princess ship, which became the face of the all-too-familiar quarantining protocol. As a result, CCL stock finds itself down more than 72% year-to-date.Source: Ruth Peterkin / Shutterstock.com However, that kind of loss inevitably invites speculators and those who are rookies to the markets. Sure, CCL stock looks like it's on a discount. While the environment looks awful today, we recognize the need for vacations - especially from such stresses as shelter-in-place orders. Therefore, many are reasoning that Carnival and the broader cruise ship industry will make a recovery.Giving fuel to this narrative is that Carnival announced earlier this month that it plans to resume service on Aug. 1. This is a week after the end of the Centers for Disease Control and Prevention's no-sail order for the industry. Since early April, CCL stock has been steadily creeping higher as positive sentiment trickles in.InvestorPlace - Stock Market News, Stock Advice & Trading TipsOf course, the CDC isn't happy about Carnival's intent. The agency is on record stating that traveling aboard cruise liners "exacerbates the global spread of Covid-19." But they might not need to be so vocal. It's the people who decide with their wallet what they want to do and it's not clear they'll return to the open waters. * 7 Excellent Penny Stocks Ready to Roar Recently, the Washington Post noted that 58% of American adults are concerned about going back to work, fearful that they might inadvertently infect their households. Imagine the sentiment for a non-essential function like going on a cruise? Economic Realities Work Against CCL StockFor those that think this industry offers untapped recovery potential, I would reconsider the thesis. Unlike other disasters that we've faced in this country, this is a crisis that has impacted in some significant way every American. Indeed, much of the world has suffered acutely from the pandemic.Therefore, I don't believe in the quick recovery narrative that you would find associated with, for instance, tragic accidents. That airplanes crash or that boats sink is an accepted risk that consumers take, particularly because these incidents are rare.But now, consumers have tuned into a new risk, that of an infectious disease spreading aboard. Actually, the risk isn't new but the concept of governments taking extreme quarantining measures is. That's not something that consumers will easily get over, which clouds the bull case for CCL stock.Beyond that, I also have concerns whether would-be travelers are able to go cruising. Much talk has been made of the latest jobless claims report, where 2.4 million have filed for unemployment benefits. Over a nine-week period, nearly 39 million Americans filed for aid. Click to EnlargeSource: Chart by Josh Enomoto Several media pundits have pointed out a silver lining in the otherwise stark data. Since jobless claims hit a peak around late March/early April, the number of people making claims has declined significantly. However, I don't see that as good news.When the crisis first became serious, virtually all non-essential services (i.e. restaurants, sporting events, movie theaters, etc.) shut down. That left millions of service industry workers out of a job, explaining the massive spike in claims.Now, as states reopen, we should see these early impacted workers get their jobs back. Logically, this suggests that the recent jobless claims are coming from higher-paid occupations. These are the type of folks that would go cruising. Black Eye on the Industry Won't Be IgnoredIf the discussion above wasn't enough to dissuade you from CCL stock, here are two interesting nuggets that I discovered: * Millennials love ESG stocks, or stocks of companies that rank highly for environmental, social and corporate governance principles. So much so that this group has outperformed during this crisis relative to non-ESG names. * Millennials love CCL stock, especially at these deflated prices. That's according to Robinhood, whose investing app is very popular among the younger demographic.This is a glaring contradiction. As of May 14, the U.S. Coast Guard that almost 60,000 cruise liner crew members are stuck at sea in U.S. waters. Of course, this includes many from Carnival's payroll.To be fair, Carnival plants to repatriate tens of thousands of their crew members throughout the world through various means. As well, bureaucratic roadblocks have utterly failed those who have been stranded. It's not accurate to heap all the blame on the cruise ship operators.Nevertheless, it's an ugly black eye for the industry because the buck has to stop somewhere. And terrible tragedies of desperation have occurred among those forcibly quarantined.Therefore, I expect that this news will filter down to the millennials who love CCL stock so much. It's too much of a paradox to see travelers enjoying their vacation while thousands have been sentenced to glitzy, floating prisons.A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. As of this writing, he did not hold a position in any of the aforementioned securities. More From InvestorPlace * Top Stock Picker Reveals His Next 1,000% Winner * America's Richest ZIP Code Holds Shocking Secret * 1 Under-the-Radar 5G Stock to Buy Now * The 1 Stock All Retirees Must Own The post Carnival Is Hitting All the Branches of the Ugly Tree appeared first on InvestorPlace.
Former Chairman & CEO of Toys 'R' Us and current CEO of Storch Advisors Jerry Storch joins Yahoo FInance’s Seana Smith to discuss the worse than expected drop in April’s retail sales and which sectors have been especially hard.
Norwegian Cruise Line posted its first quarter earnings report on Thursday. Wedbush Securities Leisure & Travel Analyst James Hardiman joins Yahoo Finance’s On The Move to discuss Norwegian Cruise Line’s latest financial results and address the challenges the cruise industry may face post-pandemic.