CCL - Carnival Corporation & Plc

NYSE - NYSE Delayed Price. Currency in USD
12.80
-1.61 (-11.17%)
At close: 4:02PM EDT

12.53 -0.28 (-2.15%)
Pre-Market: 7:37AM EDT

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Previous Close14.41
Open13.44
Bid12.91 x 4000
Ask13.69 x 4000
Day's Range11.71 - 13.47
52 Week Range7.90 - 56.04
Volume46,025,891
Avg. Volume22,219,532
Market Cap9.09B
Beta (5Y Monthly)1.39
PE Ratio (TTM)2.96
EPS (TTM)4.32
Earnings DateSep 24, 2019 - Sep 29, 2019
Forward Dividend & Yield2.00 (15.63%)
Ex-Dividend DateFeb 19, 2020
1y Target Est36.91
  • MarketWatch

    Carnival's stock turns lower after $1.75 billion public stock offering, private debt sale

    Shares of Carnival Corp. turned lower in premarket trading Tuesday, after the cruise operator said it commenced a public offering of $1.25 billion worth of its common stock. Based on Monday's stock closing price of $12.80, the offering could represent about 97.66 million shares, or about 18.5% of the shares outstanding. The company also said it commenced private offerings of $3 billion shares of senior secured notes due 2023 and $1.75 billion in senior convertible notes due 2023. The stock fell 1.6%, after being up as much as 11% earlier in the premarket, and after plunging 28% over the past two sessions. Earlier, the company said it was suspending its dividend and share repurchases, cutting expenses and pursuing additional financing to improve liquidity. The stock has plummeted 61.8% over the past month through Monday, while the S&P 500 has shed 11.1%.

  • PR Newswire

    Carnival Corporation & plc Announces Offering of Common Stock

    Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK), the world's largest leisure travel company, today announced that Carnival Corporation (the "Corporation") has commenced an underwritten public offering of $1.25 billion of shares of common stock of the Corporation. The Corporation intends to grant the underwriters an option to purchase up to $187.5 million of additional shares. The Corporation expects to use the net proceeds from the offering for general corporate purposes.

  • MarketWatch

    Carnival to suspend dividend and stock buybacks, expects to remain in compliance with debt covenants

    Carnival Corp. disclosed Tuesday that it suspending its dividend and the repurchase of its common stock, in an effor to improve liquidity as the spread of COVID-19 has led to the pause of its fleet cruise operations. The cruise operator said it is also reducing capital expenditures and operating expenses and pursuing additonal financing, and expects a a net loss for the fiscal year ending Nov. 30. As a result of these actions, the company expects to generate sufficient liquidity to remain in compliance with its debt covenants for the next 12 months, prior to giving effect to any additional financing. the stock rose 0.2% in premarket trading after falling 28% over the past two sessions. Separately, Carnival said it has received and expects to continue to receive lawsuits from passengers abor the Grand Princess voyage in February and may receive additional lawsuits stemming from COVID-19. The stock has plunged 74.8% over the past 3 months through Monday, while the S&P 500 has lost 18.7%.

  • American City Business Journals

    Cruise lines extend trip cancellations into May

    As the number of cases exponentially across the world, the companies were forced to push back that re-launch date.

  • Stuck at Sea, Cruise Ship’s Sick Crew Must Keep Vessel Going
    Bloomberg

    Stuck at Sea, Cruise Ship’s Sick Crew Must Keep Vessel Going

    (Bloomberg) -- Crew members of a Holland America Line cruise ship that’s carrying two people infected with the deadly coronavirus and still in search of a port say they aren’t being tested for the pathogen or adequately quarantined if they get sick.A shortage of staff on the Zaandam has meant workers with fever and other coronavirus symptoms are not being isolated for the 14 days many experts recommend, according to family members and social media messages from crew seen by Bloomberg News. The developments come as the cruise line now faces opposition to its plans to dock in Florida with 2,500 guests and crew on two boats, after being turned away by Chile and other countries.The relatives and employees asked not to be identified because they said Holland America has prohibited crew from speaking to the media. The passengers on the Zaandam were confirmed to be infected with Covid-19, and four “older” guests died, the company said on March 27.The accounts of crew and family members paint a troubling picture of the situation on board the vessel, which transferred passengers deemed healthy to a sister ship over the weekend. Sick crew risk fueling the outbreak on board, as experts say they did on two other cruise ships owned by Carnival Corp. that were stricken with the virus this year.The global cruise industry has been hobbled by the pandemic, with vessels from the U.S. to Australia seeing outbreaks, and passengers stranded as countries refused to allow ships to dock.Cleared to WorkOn the ship, some of the Zaandam’s crew reported being cleared by the ship’s doctor to return to work 24 hours after their fever abated, and most crew members who came down with coronavirus symptoms have not been tested for Covid-19. Some sick staff have been working in roles related to dining, according to family members and social media posts.The cruise line is closely coordinating with the Centers for Disease Control and Prevention, said Grant Tarling, senior vice president and chief medical officer at Carnival Corp., which owns Holland America.“We are complying with the agreed CDC published guidance on the recovery of a COVID-19 patient,” said Tarling, who oversees the medical operations of Holland America and other cruise lines owned by Carnival “It is not true that crew are returning to work after 24 hours of fever.”Holland America, a subsidiary of Carnival, said all crew who have any respiratory illness, including simple colds, are managed as potential Covid-19 cases out of caution and isolated, while their close contacts are quarantined.Individual testing wouldn’t change management of the cases, it said. The company said it follows Centers for Disease Control and Prevention guidelines for in-home quarantines that don’t end until three days have passed without fever and seven days have passed since symptoms began.Fourteen Days of Isolation“Everybody with symptoms should be regarded as infected until proven otherwise, regardless of being crew or passengers,” said Kentaro Iwata, an infectious disease professor at Kobe University who created international headlines by criticizing Japan’s handling of the quarantine of the Diamond Princess. More than 700 were infected and nine died on that ship.“I would isolate them for at least 14 days and until they become asymptomatic,” he said. “I may add even more because they still may carry virus.”The CDC recommends that passengers returning from cruises stay home for 14 days and practice social distancing because of the risk of infection.Crew members on the two earlier Princess ships that had Covid-19 outbreaks hastened the spread of the disease to passengers, according to CDC studies released earlier this month.The captain of the Zaandam, which was 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. Nearly 800 guests deemed healthy have been transferred over the weekend to an empty sister ship, the Rotterdam, to relieve pressure on a Zaandam crew sharply reduced by illness. COVID-19 test kits were also delivered.The Zaandam and the Rotterdam are now headed to south Florida, having passed through the Panama Canal on Monday and scuttling a plan to stop in the Caribbean island of San Andres for supplies. The cruise line was given permission to transit through the Panama Canal on humanitarian grounds after authorities initially refused it.A flu-like outbreak has spread quickly through the Zaandam: 73 guests and 116 crew members have reported influenza-like symptoms, according to the company. That’s a 37% spike from numbers released three days ago.Read: Passengers on ‘Death Ship’ Plead for Rescue as Virus Strikes Crew and their family members said they feared many workers may be infected with the deadly pathogen. A few who experienced fever and coughs or sore throats had asked the ship’s doctors to get tested and were refused, according to their relatives.Crew in quarantine also complained about missed meals, not having access to medication readily or insufficient food because of the shortage of workers. A few meals included just pieces of bread, said relatives.Florida-BoundIn a video address to passengers on Sunday, Holland America Line President Orlando Ashford said the ship transfer of passengers was conducted to reduce the workload for crew and have open cabins to isolate people.“Our first and primary goal is to manage and protect the safety, health and security of all of you,” Ashford said. “I apologize for the fact that this has turned out to not be the exact vacation you signed up for. It’s turned out to be a safety and humanitarian effort.”Both ships will be traveling together and are bound for Fort Lauderdale, Florida, said the company. The Zaandam’s voyage began at Buenos Aires on March 7, on a South America cruise that was originally scheduled to end at San Antonio, Chile, on March 21. Just a day after it departed, the U.S. State Department cautioned consumers against getting on cruises, an advisory that other governments later issued as well.Chile wouldn’t allow the vessel to dock and soon all ports were closed off to the Zaandam. The second leg of its original voyage had the ship disembarking passengers in Fort Lauderdale.Florida Governor Ron DeSantis, in an interview with Fox News, said he’s opposed to having Holland America passengers get off in south Florida and doesn’t want those who aren’t residents of the state “dumped” there.Meanwhile, Dean Trantalis, the mayor of Fort Lauderdale, called for strict protocols.“The U.S. Coast Guard and the U.S. Department of Homeland Security must create a plan to protect our community,” Trantalis wrote in a tweet. “We cannot afford any further risk.”(Updates with Holland America executive’s comments in the seventh 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.

  • What the $2 Trillion U.S. Stimulus Package Means for Travel Businesses
    Skift

    What the $2 Trillion U.S. Stimulus Package Means for Travel Businesses

    Editor's Note: Please join my colleagues and Tori Barnes from the U.S. Travel Association online at noon on April 1 for a live discussion of these issues and themes. We'll present details from multiple industry sectors as well as explain what we know as of now. You can register here. I hope to (virtually) see […]

  • COVID-19 Headlines Drive Options Players to ZM, CCL
    Schaeffer's Investment Research

    COVID-19 Headlines Drive Options Players to ZM, CCL

    Zoom and Carnival are on opposite sides of the spectrum right now

  • Cruise Line Stocks Fall Again; Carnival Suspends Operations Through May
    Benzinga

    Cruise Line Stocks Fall Again; Carnival Suspends Operations Through May

    Carnival Corp (NYSE: CCL) shares were capsizing Monday after the cruise line said it won't sail the seas until at least May 12 -- a full month later than previously expected.Carnival Guests Given Refund Options Carnival said in a series of press releases that its brands will pause operations. In one release, the Holland America Line brand said all departures scheduled through March 14 are now canceled. Guests who booked a cruise will be given the option of a full cash refund or a gift card worth 125% of their booking value on top of an additional $250 shipboard credit.Similar deals were offered by Seabourn, Cunard and other Carnival brands.Holland President Says 'Temporary Standstill' Necessary "As the world addresses global health concerns, travel has come to a temporary standstill as communities take necessary precautions to protect themselves," Orlando Ashford, the president of Holland America Line, said in a statement."All of us at Holland America Line are wishing everyone the best during this unprecedented time."What's Next For Carnival The Cunard brand has been "sailing for 180 years," and the company is looking forward to "many more," President Simon Palethorpe said in a press release."We will get through these tough times together and look forward to welcoming our guests back on board again soon, when the time is right."The stock was down 12.49% at $12.61 at the time of publication Monday.Peers were also trading lower, with Royal Caribbean Cruises Ltd (NYSE: RCL) down 17% and Norwegian Cruise Line Holdings Ltd (NYSE: NCLH) down 13%.Related Links:The Outlook For Cruise Stocks As Governments Worldwide Issue Travel WarningsCruise Line Analyst Jumps Ship On Norwegian Cruise, Royal Caribbean Amid Coronavirus CancellationsSee more from Benzinga * The Outlook For Cruise Stocks As Governments Worldwide Issue Travel Warnings(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • GuruFocus.com

    Now Look Closely at the Stock Market Casualty List

    The market’s battlefield is littered with casualties Continue reading...

  • Holland America Line Extends Temporary Pause of its Global Ship Operations for 30 Additional Days
    CNW Group

    Holland America Line Extends Temporary Pause of its Global Ship Operations for 30 Additional Days

    Holland America Line Extends Temporary Pause of its Global Ship Operations for 30 Additional Days

  • Seabourn To Pause Global Cruise Operations For An Additional 30 Days
    PR Newswire

    Seabourn To Pause Global Cruise Operations For An Additional 30 Days

    Seabourn, the world's finest ultra-luxury travel experience, announced today that it will extend the voluntarily pause of global operations for its five cruise ships for an additional 30 days. The 30-day extension includes sailings scheduled to depart through May 14, 2020.

  • Are Options Traders Betting on a Big Move in Carnival Corporation (CCL) Stock?
    Zacks

    Are Options Traders Betting on a Big Move in Carnival Corporation (CCL) Stock?

    Investors need to pay close attention to Carnival Corporation (CCL) stock based on the movements in the options market lately.

  • Barrons.com

    Cruise Operators Scramble to Preserve Cash as Federal Aid Is Uncertain

    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.

  • Barrons.com

    The Stock Market Is Calmer Today. Abbott Labs and GM Are Jumping.

    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.

  • Reuters

    Carnival's Cunard extends suspension of cruises to May 15

    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.

  • MarketWatch

    Carnival's Cunard sub to extend suspensions of cruises by a month

    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%.

  • Cunard Announces Pause to Voyages Until May 15, 2020
    PR Newswire

    Cunard Announces Pause to Voyages Until May 15, 2020

    As the COVID-19 situation continues to evolve, Cunard has made the decision to take the preventative measure of extending the suspension of all voyages an additional month from April 11 up to and including May 15, 2020.

  • Passengers on ‘Death Ship’ Plead for Rescue as Virus Strikes
    Bloomberg

    Passengers on ‘Death Ship’ Plead for Rescue as Virus Strikes

    (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.

  • Reuters

    Hundreds to be evacuated from coronavirus-hit ship off Panama

    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.

  • U.S. Infections Top 100,000; L.A. Warns of Surge: Virus Update
    Bloomberg

    U.S. Infections Top 100,000; L.A. Warns of Surge: Virus Update

    (Bloomberg) -- The U.S. became the first country to reach 100,000 coronavirus cases. Italy had its deadliest day with almost 1,000 fatalities. British Prime Minister Boris Johnson and his health secretary tested positive.President Donald Trump ordered General Motors to start making ventilators by invoking a Cold War-era law. Toyota’s idled U.S. manufacturing facilities will make much-needed face shields and masks.New York Mayor Bill de Blasio said new infections will be “astronomical.” Los Angeles Mayor Eric Garcetti warned his city may see a New York-like surge in less than a week.Key Developments:Cases top 585,000; 26,800 dead, 130,000 recovered: Johns HopkinsU.S. cases top 100,000, more than Italy, ChinaU.S. ramps up virus testing, but demand still outpaces supplyWorkers critical to world’s food supply falling illU.K. orders unprecedented shutdown of housing marketTokyo braces for critical weekendFrom Spain to Germany, farmers warn of fresh food shortagesSubscribe to a daily update on the virus from Bloomberg’s Prognosis team here.Click VRUS on the terminal for news and data on the coronavirus and here for maps and charts. For analysis of the impact from Bloomberg Economics, click here. To see the impact on oil and commodities demand, click here.U.S. Becomes First Nation With 100,000 Cases (5:27 p.m. NY)The U.S. became the first country to surpass 100,000 confirmed cases of the coronavirus on Friday, a day after it overtook China to become the largest outbreak in the world. America’s most prominent hot spots are New York and New Jersey, which together account for half the country’s total cases. California has more than 4,000.L.A. Warns of New York-Level Surge in Five Days (5:06 p.m. NY)Los Angeles could see a coronavirus surge similar to New York City’s in five days if the spread continues at the rate it’s been going, Mayor Eric Garcetti said.“We will have doctors making excruciating decisions,” Garcetti said at a press briefing alongside Governor Gavin Newsom. They spoke in front of the U.S. Navy hospital ship Mercy, which docked in Los Angeles to lend extra medical space for non-coronavirus needs. It will be the largest hospital in the city, Garcetti said.Rhode Island Stops Cars With N.Y. Plates (5 p.m. NY)Rhode Island police, aided by the National Guard, on Saturday will conduct house-to-house searches to find people who traveled from New York to demand they begin 14 days of self-quarantine. State police are already stopping cars with New York license plates.“Right now we have a pin-pointed risk,” Governor Gina Raimondo said. “And that risk is called New York City.”Raimondo, a Democrat, said she consulted lawyers and while she couldn’t close the border, she felt confident she could enforce a quarantine. Many New Yorkers have summer houses in the state, especially in tony Newport, and the governor said authorities would be checking there.Trump Signs $2 Trillion Stimulus Bill (4:47 p.m. NY)President Donald Trump signed the largest stimulus package in U.S. history, a $2 trillion aid bill intended to rescue the economy. The plan will provide a massive injection of loans, tax breaks and direct payments to large corporations, small businesses and individuals whose revenue and income have plummeted under social distancing restrictions.Read full story hereFour Die on Holland America Cruise Ship (4:30 p.m. NY)Carnival Corp.’s Holland America line said four passengers died on its Zaandam ship, which has had an outbreak of flu-like symptoms on board, including at least two confirmed cases of Covid-19. The cruise line said the passengers were “older” but didn’t say how they died.The Zaandam, currently near Panama, was still at sea when cruise companies halted new voyages earlier this month.Trump Orders GM to Make Ventilators (4 p.m. NY)President Donald Trump ordered General Motors Co. to immediately begin making ventilators, invoking a Cold War-era defense act amid productive talks with the automaker.“Our negotiations with GM regarding its ability to supply ventilators have been productive, but our fight against the virus is too urgent to allow the give-and-take of the contracting process to continue to run its normal course. GM was wasting time,” Trump said in a statement. “Today’s action will help ensure the quick production of ventilators that will save American lives.”GM and ventilator maker Ventec Life Systems Inc. had much of what they needed in place to ramp up production of the breathing machines. They were just waiting on the Trump administration to place orders and cut checks.Belgium May Keep Limits Until May 2 (3 p.m. NY)Belgium extended restrictions on citizens and businesses, which took effect March 14, by two weeks until April 19, and Prime Minister Sophie Wilmes signaled a further extension to May 3, saying it’s too early to declare the epidemic under control. Belgians must stay at home except for essential activities such as grocery shopping. Gatherings by more than two people are banned and stores selling non-essential goods remain closed.N.Y. Seeks Aid for Four New Hospitals (2:45 p.m. NY)New York is seeking federal assistance for four new emergency hospitals, Governor Andrew Cuomo said, as the number of state deaths spiked 35% in a day to more than 500.The new sites would join four centers the U.S. is setting up in the city, he said. The state wants more beds for Nassau, Suffolk and Westchester counties. Cuomo spoke from the Jacob K. Javits Convention Center on Manhattan’s west side, which is being converted into a 1,000-bed emergency hospital that will open Monday.Cuomo said current demand for medical equipment is adequately covered and that the state is stockpiling additional supplies for a potential peak of infections three weeks from now. “We don’t need them yet,” he said. “We need them for the apex.”The governor said he would keep the state’s schools closed for an additional two weeks, at which time the situation will be reassessed.Luxembourg Plans to Test for Herd Immunity (1:30 p.m. NY)Luxembourg is in an intensive planing phase to be among the first nations to research so-called herd immunity based on new blood tests the country is expecting to get, Health Minister Paulette Lenert said Friday.The new tests wouldn’t check for Covid-19 infections but whether people have developed immunity against the new virus. Luxembourg, due to its small population of just over 600,000 people, is in a fortunate position to do this, the minister said. Scientists would be able to test samples that would be representative of the entire population, the minister said.Italy’s Daily Toll Nears 1,000 (12:35 pm. NY)Italy had its highest daily death toll even as the number of new cases declined on Friday. Fatalities shot up to 969, the most in a 24-hour period since the start of the outbreak.New infections totaled 5,959, compared with 6,153 the previous day, civil protection authorities said at their daily news conference in Rome. Italy now has 86,498 total cases, roughly the same number as the U.S. and more than China, where the disease’s first outbreak occurred.U.S. Buys More Ventilators (12:30 p.m. NY)President Donald Trump said the federal government bought “many ventilators” from several companies he didn’t identify. Trump in a tweet said the names will be announced later.State and local officials have been pleading with the federal government for more ventilators as cases of the coronavirus mount.France Extends Restrictions (12:20 p.m. NY)French Prime Minister Edouard Philippe said public confinement is being extended to April 15. The restrictions could be further extended if needed, he said in a press conference after a cabinet meeting on Friday. A scientific committee consulted by the government recommends at least six weeks of confinement, he said.Portugal’s Cases Rise 20% (12:14 p.m. NY)Portugal’s cases rose 20% to 4,268 from 3,544 a day earlier, the government’s Directorate-General of Health said. That compares with a daily increase of 18% reported Thursday and a 27% rise on Wednesday. The total number of deaths increased to 76 on Friday from 60 reported through Thursday morning.Director-General of Health Graça Freitas said the data suggest the peak won’t be a moment in time but rather a plateau, and may not occur before May.Libya, Syria Face Catastrophe: WHO (11:35 a.m. NY)Libya reported its first case this week, meaning 21 of 22 Eastern Mediterranean nations have infections. The World Health Organization said Libya’s capacity to respond is extremely limited in some areas and non-existent in others, with a large movement of people from neighboring countries.The outbreak also threatens to cause a catastrophe in Syria, the WHO said. Half of the nation’s hospitals are not functioning after nine years of war and thousands of health workers having fled the country. Millions of displaced people live in overcrowded camps in the country’s northwest, but after two days of tests using 300 WHO kits, no cases so far have been detected, the agency said.Toyota Shifts Factories to Face Shields (11:07 a.m. NY)Toyota Motor Corp.’s idled manufacturing facilities in the U.S. will make much-needed face shields and masks, and the Japanese automaker is closing in on deals with medical-device makers to help them boost production.The carmaker said Friday it will start mass production of face shields early next week to supply hospitals near its plants in Indiana, Kentucky, Michigan and Texas. Toyota also said it is finalizing pacts with at least two companies to make breathing ventilators and respirator hoods, and it’s looking for partners to make protective masks. The company on Thursday extended its shutdown of North American factories for two weeks.U.K. Virus Deaths Jump 30% (10:29 a.m. NY)The number of people in the U.K. who have died from coronavirus increased by 31% to 759 as of Thursday, the Department of Health said. That’s higher than the five-day average of 20%.Some 14,579 have tested positive for the disease as of Friday, an increase of about 25%, above the five-day average of 20%.Two Fed Bankers Confident of Rebound (10:29 a.m. NY)Atlanta Fed President Raphael Bostic and Dallas Fed President Robert Kaplan expressed confidence the U.S. economy will rebound when restrictions on activity are lifted.“This is a public health crisis” and different from a typical recession, Bostic said on Bloomberg Television Friday. Kaplan offered a similar view a few minutes earlier. “We were strong before we went into this, and we believe that we’ve got a great chance to come out of this very strong,” he said.Kaplan said unemployment would peak “in the low to mid teens” before recovering to around 7%-to-8% by year-end.Coronavirus Response Leaves U.K. Vulnerable: Lancet (9:29 a.m. NY)A delayed response by the U.K. government to the coronavirus pandemic has left the health system “wholly unprepared” for an expected surge of critically ill patients, according to the editor of the medical journal The Lancet.In a letter posted on the journal’s website, Richard Horton described chaos and panic across the National Health Service, basing his comments on messages he received from workers. The government last month should have expanded testing capacity, ensured the distribution of protective equipment and stepped up training, he said.U.K. Prime Minister, Health Secretary Have Virus (9:17 a.m. NY)British Prime Minister Boris Johnson will self-isolate in Downing Street for seven days after a test found he had the coronavirus, spokesman James Slack told reporters on Friday. Health Secretary Matt Hancock has also contracted the illness, in a double blow to the U.K. government’s response to the crisis.Both men have reported mild symptoms. Meals will be left at Johnson’s door while he continues to work by video-conference, Slack said. Hancock is self-isolating and working from home.These are the latest high-profile individuals to contract the virus in Britain after Prince Charles, the heir to the throne, tested positive.U.K. Sees No Change to Brexit Timetable (8:29 a.m. NY)“In terms of the timetable there’s no change from our point of view,” the U.K. prime minister’s spokesman James Slack told reporters in a conference call. Slack was asked if there would be an extension to the Brexit transition period beyond December.NYC Mayor Says Trump Needs to Face Reality on Ventilators (8:20 a.m. NY)New York Mayor Bill de Blasio said cases of the new coronavirus are going to become “astronomical,” putting unprecedented strain on the hospital system. Trump said in an interview on Fox News that he didn’t think New York state needed the 30,000 ventilators that Governor Andrew Cuomo has asked for to treat Covid-19 patents with respiratory conditions.“When the president says the state of New York doesn’t need 30,000 ventilators, with all due respect to him, he’s not looking at the facts of this astronomical growth of this crisis,” de Blasio said. “If they don’t have a ventilator, a lot of people are just not going to make it.”Rolls-Royce Pauses U.K. Civil-Engine Output (8:07 a.m. NY)Rolls-Royce Holdings Plc will wind down jetliner-engine production in the U.K. as it spends a week implementing cleanup and safety measures to cope with the coronavirus outbreak. The company, which makes turbines for wide-body planes, will “significantly reduce” all but essential activities within its U.K. civil aerospace facilities from midnight, it said in a statement Friday.Rolls-Royce is taking a break from manufacturing after customer Airbus SE also paused production to check on measures to protect employees from Covid-19. Boeing Co. has gone a step further, winding down planemaking in the Seattle area for two weeks after a worker died of virus-related complications.China Ramps Up Stimulus Measures (8 a.m. NY)China will “appropriately” raise its fiscal deficit as a share of gross domestic product, issue special sovereign debt and allow local governments to sell more infrastructure bonds as part of a stimulus package to stabilize the economy, according to a politburo meeting on Wednesday, central China television reported late on Friday.Italy Virus Curve Seen Flattening Slightly (7:49 a.m. NY)The curve of new coronavirus cases in Italy appears to have started flattening slightly since March 20, Silvio Brusaferro, head of the country’s National Health Institute, said at a press conference on Friday. The mortality rate in the country is proportional to patients’ age, Brusaferro said.The National Health Institute said the country wasn’t at the peak of the contagion yet, but the head of the Superior Health Council Franco Locatelli said there were clear signs that the containment measures “are efficient, so people must respect them.”Italy reported its biggest rise in coronavirus infections in the last five days on Thursday, as the disease spread further in the northern Lombardy region, even after weeks of rigid lockdown rules.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.

  • InvestorPlace

    Stock Market Today: The $2 Trillion Stimulus Check Is In the Mail

    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.

  • TheStreet.com

    Four Passengers Die in Coronavirus Outbreak on Carnival's Holland America Ship

    Four passengers died aboard Holland America's Zaandam cruise ship, and two people on board tested positive for the coronavirus.