See the Northern Lights on Every Princess Cruise to Alaska in 2024
- Award-Winning "North to Alaska with Princess" Program Debuts New Immersive Experiences for 55th Anniversary 2024 Cruise and Cruisetour Season FT. LAUDERDALE, Fla.
- 05/01/2024
|
Princess Cruises Announces Revised 2025 World Cruise Itineraries
- Uncertainties in the Red Sea and Surrounding Region Prompts Rerouting of Global Voyages SANTA CLARITA, Calif. , April 30, 2024 /PRNewswire/ -- Given the ongoing situation in the Red Sea and surrounding area and following extensive consultation with global security experts and government authorities, Princess Cruises is revising the itineraries for its two 2025 World Cruises, which will no longer visit the Middle East or Asia, and now instead, will offer new port stops in Africa and Europe.
- 04/30/2024
|
Carnival Corporation Completes Fleetwide Rollout of LR OneOcean Environmental Compliance & Passage Planning Software
- World's largest cruise company sets new standard for journey and environmental planning, leveraging automation to streamline passage planning, support compliance excellence MIAMI , April 30, 2024 /PRNewswire/ -- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK), the world's largest cruise company, today announced it has completed the fleetwide rollout of LR OneOcean's EnviroManager+ software – the most comprehensive and data-rich implementation of the LR OneOcean platform to date – setting a new standard for maritime journey and environmental planning. The system will deliver efficiencies in passage planning and support voyage compliance excellence with all relevant international, regional, national, and local environmental regulations.
- 04/30/2024
|
Carnival Corporation & plc Announces Closing of €500 Million 5.75% Senior Unsecured Notes Offering and Repricing of Senior Secured First Lien Term Loan B Facilities as Part of Ongoing Debt and Interest Expense Reduction
- Transaction included partial prepayment of $800 million under Senior Secured First Lien Term Loan B Facilities; Redemption of 2026 Euro Unsecured Notes to take place on April 26, 2024 MIAMI , April 25, 2024 /PRNewswire/ -- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) today announced that Carnival Corporation (the "Company") has closed its previously announced private offering (the "Notes Offering") of €500 million aggregate principal amount of 5.75% senior unsecured notes due 2030 (the "Notes"). The Company will use the net proceeds from the Notes Offering, together with cash on hand, to redeem its €500 million 7.625% senior unsecured notes due 2026 (the "2026 Euro Unsecured Notes"), resulting in a reduction in interest expense of nearly 2%.
- 04/25/2024
|
Princess Cruises Unveils Exclusive New Sanctuary Collection Aboard Sun Princess and Star Princess
- New Category Offers Unprecedented Level of Exclusivity and Premium Extras Aboard Newest Ships from Princess FORT LAUDERDALE, Fla. , April 24, 2024 /PRNewswire/ -- Elevating the art of relaxation and serenity, Princess Cruises is introducing the exclusive, next-level Sanctuary Collection aboard Sun Princess and Star Princess, as these newest ships prepare to debut with this select, all-inclusive oasis in October 2024.
- 04/24/2024
|
Award-Winning Actress Hannah Waddingham Officially Christens Sun Princess in Awe-Inspiring Ceremony
- Michael Carbonara, Tyra Banks, Britto, Randy Fenoli, Original "Love Boat" Cast Members, Celebrity Chefs and TV Personalities on hand to Celebrate Plus Musical Performance by Natasha Bedingfield BARCELONA, Spain , April 23, 2024 /PRNewswire/ -- In a spectacular celebration today at the Port of Barcelona, award-winning actress and performer Hannah Waddingham officially welcomed the newest and most innovative Princess Cruises ship – Sun Princess – serving as godmother during a star-studded naming ceremony. The time-honored maritime tradition took place onboard Sun Princess in the all-new Princess Arena and Waddingham, alongside the ship's Captain Craig Street, joyously pronounced, "I name this ship Sun Princess.
- 04/23/2024
|
Princess Cruises Unveils Exclusive New Sanctuary Collection Aboard Sun Princess and Star Princess
- New Category Offers Unprecedented Level of Exclusivity and Premium Extras Aboard Newest Ships from Princess FORT LAUDERDALE, Fla. , April 23, 2024 /PRNewswire/ -- Elevating the art of relaxation and serenity, Princess Cruises is introducing exclusive, next-level Sanctuary Collection aboard Sun Princess and Star Princess, as these newest ships prepare to debut with this select, all-inclusive oasis in early 2024.
- 04/23/2024
|
Carnival Corporation & plc Announces Pricing of €500 Million 5.75% Senior Unsecured Notes Offering for Refinancing and Interest Expense Reduction and Successful Repricing of Senior Secured First Lien Term Loan B Facilities for Interest Expense and Debt Reduction
- Proceeds from the offering of senior unsecured notes and cash on hand to be used to redeem €500 million 7.625% senior unsecured notes due 2026; cash on hand to repay $800 million of the term loan facilities MIAMI , April 19, 2024 /PRNewswire/ -- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) today announced that Carnival Corporation (the "Company") priced its private offering (the "Notes Offering") of €500 million aggregate principal amount of 5.75% senior unsecured notes due 2030 (the "Notes"). The Company expects to use the net proceeds from the Notes Offering, together with cash on hand, to redeem its €500 million 7.625% senior unsecured notes due 2026 (the "2026 Euro Unsecured Notes"), resulting in a reduction in interest expense on this outstanding debt of nearly 2%.
- 04/19/2024
|
Cunard Officially Welcomes New Ship Queen Anne with Ceremony at Fincantieri Shipyard
- VALENCIA, Calif. , April 19, 2024 /PRNewswire/ -- She's the next in a fine line for Cunard, and today (April 19), Queen Anne officially joined the luxury cruise line's iconic fleet during a historic handover ceremony in Italy.
- 04/19/2024
|
Carnival Corporation & plc Announces the Redemption of Existing €500 Million Notes and Launch of New Senior Unsecured Notes Offering for Interest Expense Reduction; Launch of Repricing of Senior Secured First Lien Term Loan B Facilities with Partial Repayment for Debt and Interest Expense Reduction
- MIAMI , April 16, 2024 /PRNewswire/ -- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) today announced that Carnival Corporation (the "Company") commenced a private offering (the "Notes Offering") of new senior unsecured notes in an aggregate principal amount of €500 million, expected to mature in 2030 (the "Notes") to refinance its €500 million 7.625% senior unsecured notes due 2026 (the "2026 Euro Unsecured Notes"), expecting to reduce interest expense. The Company issued a conditional notice of redemption for the entire outstanding principal amount of the 2026 Euro Unsecured Notes to be redeemed on or about April 26, 2024 at a redemption price equal to 101.906% of the principal amount of the 2026 Euro Unsecured Notes, plus accrued and unpaid interest.
- 04/16/2024
|
Carnival Corporation & plc Announces Maritime Executive Changes Effective Feb. 1, 2025
- Vice Admiral William R. Burke (Ret.
- 04/15/2024
|
Princess Cruises Rolls Out Fleetwide Dining Revolution: Traditional, Reservable, Open Seating, and Anywhere Service Now Available for Every Guest Preference
- New Options Follow Successful Debut Aboard New Sun Princess FORT LAUDERDALE, Fla. , April 13, 2024 /PRNewswire/ -- Princess Cruises today announced it is making a significant enhancement to the main dining options found across its fleet, designed to give guests the ultimate in flexibility and choice when it comes to their dining experience by offering three table service options – Traditional, Reservable, or Walk-in Anytime - coupled with the brand's industry exclusive OceanNow location-based "anywhere" service.
- 04/13/2024
|
Carnival Corporation Announces Significant Sustainability Achievements
- World's largest cruise company releases annual report detailing its global sustainability performance and progress, including surpassing several sustainability goals well in advance MIAMI , April 10, 2024 /PRNewswire/ -- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK), the world's largest cruise company, today released its 14th annual sustainability report detailing meaningful progress in its six sustainability focus areas, including toward its highest-priority goals supporting climate action to reduce greenhouse gas (GHG) emissions and promoting a circular economy model to reduce waste. The company achieved several 2030 environmental goals well in advance and is tracking ahead of schedule on a number of other key targets, including GHG intensity reductions.
- 04/10/2024
|
CARNIVAL CORPORATION & PLC TO HOLD CONFERENCE CALL ON FIRST QUARTER EARNINGS
- MIAMI , March 13, 2024 /PRNewswire/ -- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) has scheduled a conference call with analysts for Wednesday, March 27, 2024, at 10 a.m. (EDT); 2 p.m.
- 03/13/2024
|
Carnival Corporation & plc (CCL) Q4 2023 Earnings Call Transcript
- Carnival Corporation & plc (CCL) Q4 2023 Earnings Call Transcript
- 12/21/2023
|
CARNIVAL CORPORATION & PLC TO HOLD CONFERENCE CALL ON FOURTH QUARTER EARNINGS
- MIAMI , Dec. 14, 2023 /PRNewswire/ -- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) has scheduled a conference call with analysts for Thursday, December 21, 2023, at 10 a.m. (EST); 3 p.m.
- 12/14/2023
|
CARNIVAL CORPORATION & PLC TO HOLD CONFERENCE CALL ON THIRD QUARTER EARNINGS
- MIAMI , Sept. 15, 2023 /PRNewswire/ -- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) has scheduled a conference call with analysts for Friday, September 29, 2023, at 10 a.m.
- 09/15/2023
|
Carnival Corporation & plc (CCL) Q2 2023 Earnings Call Transcript
- Carnival Corporation & plc (NYSE:CCL ) Q2 2023 Earnings Conference Call June 26, 2023 10:00 AM ET Company Participants Josh Weinstein - President and Chief Executive Officer and Chief Climate Officer David Bernstein - Chief Financial Officer Beth Roberts - Senior Vice President, Investor Relations Conference Call Participants Robin Farley - UBS Steve Wieczynski - Stifel James Hardiman - Citi Fred Wightman - Wolfe Research Jamie Katz - Morningstar Matthew Boss - JP Morgan Patrick Scholes - Truist Securities Dan Politzer - Wells Fargo Josh Weinstein Good morning. This is Josh Weinstein.
- 06/26/2023
|
CARNIVAL CORPORATION & PLC TO HOLD CONFERENCE CALL ON SECOND QUARTER EARNINGS
- MIAMI , June 12, 2023 /PRNewswire/ -- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) has scheduled a conference call with analysts for Monday, June 26, 2023, at 10 a.m. (EDT); 3 p.m.
- 06/12/2023
|
Should You Buy Stocks Before a Recession?
- The Federal Reserve recently predicted a mild recession. Meanwhile, some stocks are trading at bargain prices -- and in certain cases, earnings are recovering.
- 05/26/2023
|
2 Risky Stocks to Avoid Right Now
- Carnival's debt load is too large compared to its cash flow for the foreseeable future. Lucid's first-quarter earnings highlight alarming trends in its business.
- 05/12/2023
|
These Are the Top 10 Holdings of Robert Lynch
- Robert Lynch is the Co-founder, Chief Risk Officer and Managing Partner at Aristeia Capital.
- 04/12/2023
|
Carnival Corporation & plc (CCL) Q1 2023 Earnings Call Transcript
- Carnival Corporation & plc (NYSE:CCL ) Q1 2023 Earnings Conference Call March 27, 2023 10:00 AM ET Company Participants Josh Weinstein - President & CEO and Chief Climate Officer David Bernstein - Chief Financial Officer Micky Arison - Chairman Beth Roberts - Senior Vice President, IR Conference Call Participants Patrick Scholes - Truist Securities Steve Wieczynski - Stifel James Hardiman - Citigroup Fred Wightman - Wolfe Research Robin Farley - UBS Ben Chaiken - Credit Suisse Brandt Montour - Barclays Assia Georgieva - Infinity Research Stephen Grambling - Morgan Stanley Chris Stathoulopoulos - Susquehanna Financial Group Paul Golding - Macquarie Research Josh Weinstein Good morning. This is Josh Weinstein.
- 03/27/2023
|
Hotel REITs: Dividends Are Back
- Despite lingering recession concerns and recent travel disruptions, Hotel REITs have been among the better-performing sectors over the past year, buoyed by steady post-pandemic operating improvement fueling long-awaited dividend resumptions. Several years of pent-up leisure demand helped to offset a sluggish business and group travel recovery. Hotel revenues eclipsed record highs in 2022, but with wide dispersion between markets and segments.
- 01/25/2023
|
7 Investments To Avoid In 2023
- As is usual at the start of a new year, many Seeking Alpha contributors have shared their lists of where to put your money during 2023. But not losing money with your investments is almost as important as making money.
- 01/20/2023
|
5 Best Bargain Stocks to Buy Before 2023
- It's time to hit the best sale in town, and that involves many top stocks.
- 12/09/2022
|
3 Growth Stocks You Can Buy Right Now With Less Than $100
- You don't need a lot money to buy into these fallen -- but not broken -- growth stocks. One has plummeted 97% this year.
- 11/23/2022
|
5 Top Stocks to Buy Before 2023
- These stocks have what it takes to win over time.
- 11/15/2022
|
These Are The Five Best And Worst Performing Large-Cap Stocks In September 2022
- September has been a tough month for the U.S. stock market historically, and this year was no different.
- 10/10/2022
|
Carnival Corporation & plc (CCL) Q3 2022 Earnings Call Transcript
- Carnival Corporation & plc (NYSE:CCL ) Q3 2022 Results Conference Call September 30, 2022 10:00 AM ET Company Participants Josh Weinstein - President, CEO and Chief Climate Officer David Bernstein - CFO Beth Roberts - SVP, IR Conference Call Participants Steve Wieczynski - Stifel James Hardiman - Citi Robin Farley - UBS Jamie Katz - Morningstar Ben Chaiken - Credit Suisse David Katz - Jefferies Ali Naqvi - HSBC Brandt Montour - Barclays Josh Weinstein Good morning. This is Josh Weinstein.
- 09/30/2022
|
Is This Beaten-Down Cruise Stock a Buy?
- Carnival took on a lot of debt to cover its losses and stay afloat long enough to work its way back from its pandemic shutdown. Now it's issuing new shares.
- 08/03/2022
|
Is This Cruise Stock About to Be Plundered?
- Carnival amassed an enormous debt load to stay afloat during the pandemic. It may have a hard time going forward.
- 07/19/2022
|
Carnival Corp & Carnival PLC (CCL) CEO Arnold Donald on Q2 2022 Results - Earnings Call Transcript
- Carnival Corp & Carnival PLC (NYSE:CCL ) Q1 2022 Earnings Conference Call June 24, 2022 10:00 AM ET Company Participants Arnold Donald - CEO, Chief Climate Officer, President & Director Josh Weinstein - Chief Operations Officer David Bernstein - CFO & CAO Conference Call Participants Steven Wieczynski - Stifel, Nicolaus & Company Robin Farley - UBS Jaime Katz - Morningstar Charles Scholes - Truist Securities Daniel Politzer - Wells Fargo Securities James Hardiman - Citigroup Assia Georgieva - Infinity Research Arnold Donald Good morning, and welcome to our business update conference call. I am Arnold Donald, President and CEO of Carnival Corporation & plc.
- 06/24/2022
|
Why Cruise Ships Are Going Full Speed Ahead Today
- The cruise industry is riding a wave of good news today.
- 06/24/2022
|
Why Carnival Stock Was Underwater Today
- The company is loading up with even more debt.
- 05/19/2022
|
3 Stocks That Can Make You Richer in April
- Theme parks, cruise ships, and functional energy drinks could be ready to spring in April.
- 04/04/2022
|
Here's Why I'm Buying Retail Stocks For 2022
- Here's Why I'm Buying Retail Stocks For 2022
- 02/23/2022
|
5 Very Different Ideas For A Tricky 2022 Investing Environment
- By almost any standard the overall stock market is very expensive right now. But the economy looks like it can still grow in the first half of 2022, and potentially longer than that.
- 01/09/2022
|
Buy The Dip: 2 More 'Top Picks' For 2022
- Buy The Dip: 2 More 'Top Picks' For 2022
- 12/23/2021
|
Carnival misses revenue estimates, Omicron hits bookings
- Carnival Corp missed analysts' estimates for quarterly revenue on Monday, as people avoided cruises due to higher chances of COVID-19 infections in crowded and enclosed spaces.
- 12/20/2021
|
Why Carnival Stock Investors Have No Worries Today
- BioNTech's advice to investors: "Don't freak out" about omicron.
- 12/01/2021
|
Is It Time to Buy the S&P 500's 3 Worst-Performing October Stocks?
- All good stocks that are needlessly sold off are bargains, but not all sold-off stocks are necessarily good stocks. Some are down for good reason.
- 11/03/2021
|
Why Cruise Line Stocks Jumped on Monday
- Investors are getting bullish on the business again.
- 09/27/2021
|
Carnival Corporation & plc Provides Third Quarter 2021 Business Update
- MIAMI, Sept. 24, 2021 /PRNewswire/ -- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) provides third quarter 2021 business update.
- 09/24/2021
|
GLO: Heavy American Focus But Global Potential
- GLO: Heavy American Focus But Global Potential
- 08/23/2021
|
3 Travel Stocks That Actually Grew During the Pandemic
- The pandemic devastated travel-related companies. Here are three that came out of the crisis with momentum.
- 08/21/2021
|
Carnival Corporation & plc Announces Pricing of $2.4 Billion 4.0% First-Priority Senior Secured Notes Offering to Refinance a Portion of its Existing 11.5% Notes and Extend Maturities
- MIAMI, July 21, 2021 /PRNewswire/ -- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) today announced that Carnival Corporation (the "Issuer") has priced its private offering of $2,405.5 million aggregate principal amount of 4.000% first-priority senior secured notes due 2028 (the "New Notes"). The offering of the New Notes is expected to close on July 26, 2021 subject to customary closing conditions.
- 07/21/2021
|
Carnival Corporation to Operate up to 75% of Fleet Capacity by End of 2021
- MIAMI, July 20, 2021 /PRNewswire/ -- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK), the world's largest cruise company, today announced that it expects to resume guest cruise operations with 65% of its total fleet capacity by the end of 2021 across eight of its world-leading cruise line brands. Additionally, Carnival Cruise Line has announced plans that envision the brand's entire fleet returning to service by the end of 2021, which would further increase Carnival Corporation's total operating capacity to nearly 75% by the end of the year.
- 07/20/2021
|
Is Florida Fumbling the Cruise Line Recovery?
- Carnival, Royal Caribbean, and NCL have been slow to come around this summer.
- 07/13/2021
|
Why Travel Stocks Are Dropping This Week
- COVID-19 is back in the news.
- 07/09/2021
|
It's a Cruel Summer for Cruise-Line Stocks
- Disney nixes its first cruise in more than a year, and the rest of the industry is off to a slow recovery this season.
- 06/29/2021
|
Princess Cruises Continues Plans to Resume Cruising in United States with Sailings Departing from Los Angeles, San Francisco and Ft. Lauderdale in the Fall 2021
- SANTA CLARITA, Calif., June 17, 2021 /PRNewswire/ -- Following collaboration with government officials, and evolving guidance from the U.S. Centers for Disease Control and Prevention (CDC), Princess is announcing its intent to return to service in the United States sailing from Los Angeles, San Francisco, and Ft.
- 06/17/2021
|
Clough Global Opportunities Fund: This Is Not The Best Fund For Global Diversification
- Clough Global Opportunities Fund: This Is Not The Best Fund For Global Diversification
- 05/24/2021
|
Crew Members from Holland America Line's Koningsdam Receive COVID-19 Vaccinations at Port of San Diego Today
- SEATTLE, May 19, 2021 /PRNewswire/ -- Holland America Line crew members from Koningsdam received their first dose of the Pfizer COVID-19 vaccination today at the Port of San Diego in California. Arranged in partnership with Sharp HealthCare, a not-for-profit regional health care group, 118 crew came ashore to be vaccinated.
- 05/19/2021
|
Seabourn Sets Its Sights On The 2023 Season With Ultra-Luxury Voyages And Adventures In Alaska, The Pacific Coast, And Canada/New England
- SEATTLE, May 19, 2021 /PRNewswire/ -- Seabourn , the ultra-luxury cruise line, is already looking forward to setting sail in 2023 with immersive voyages scheduled for Alaska, the Pacific Coast, and Canada/New England. Seabourn Odyssey will head north to "The Great Land" of Alaska with a total of 18 sailings from May through October, including voyages ranging from 7 to 11 days, with the option to sail from Vancouver, British Columbia, on 14-day Combination Cruises.
- 05/19/2021
|
With Its Latest Guidance, the CDC Inches Closer to Letting Cruise Ships Sail
- It's not the green light the industry was looking for, but it's getting there.
- 05/06/2021
|
CDC to Finally Allow Cruise Ships to Start Sailing Again
- The industry could be back on the high seas as soon as mid-July.
- 04/29/2021
|
Wall Street's Upbeat Cruise Views Are Still a Downer
- Things are looking good, but not that good.
- 04/23/2021
|
Senators Call for CDC to Keep Cruise Ship Industry Shut Down
- They say premature resumption of sailing could be a public health disaster.
- 04/16/2021
|
CDC Keeps Cruise Restrictions in Place Until Nov. 1
- The industry has been pleading to resume operations this summer.
- 03/24/2021
|
Cruise Stocks: What's Going on With CCL, RCL, NCLH and CUK Today?
- Cruise stocks are sinking on Tuesday with some of the biggest names in the industry seeing their shares fall on pessimism. The post Cruise Stocks: What's Going on With CCL, RCL, NCLH and CUK Today?
- 03/16/2021
|
The Unlikeliest Winners in Monday's Stock Market Drop
- It's surprising to see hope lifting so many stocks in hard-hit industries.
- 03/15/2021
|
Why Every Cruise Stock in the Water Just Popped
- Macquarie sees smoother sailing for the cruise industry ahead.
- 03/02/2021
|
Why Carnival, Norwegian Cruise Line, and Royal Caribbean Cruises All Jumped Today
- By year-end, cruise lines could be fully operational.
- 02/19/2021
|
If There's Another COVID-19 Lockdown, Here's What You Need to Know
- As new deadly mutations of the virus are popping up, shutting down the economy again becomes a possibility.
- 02/03/2021
|
Will Your Next Cruise Require a COVID-19 Vaccination?
- Carnival, Royal Caribbean, and Norwegian Cruise Line keep pushing out their restart dates. They could be just waiting for the pandemic-tackling vaccines to do the trick.
- 12/30/2020
|
Think the Economy Will Rebound in 2021? These Stocks Would Be Big Winners
- How to invest in a potential recovery.
- 12/28/2020
|
Taking a Cruise Just Got More Dangerous
- The CDC bumps up the risk level of taking a cruise to its highest rating. It's time to be patient.
- 11/23/2020
|
This Realization Sent the Stock Market Lower Today -- and More Disappointment Could Lie Ahead
- It's obvious, but some people didn't take the ramifications into account.
- 11/12/2020
|
Why the Stock Market Can't Make Up Its Mind
- Another big disparity across different markets shows what investors are wrestling with.
- 11/10/2020
|
Carnival Corporation's North American Brands Extend Pause in Cruise Operations
- MIAMI, Nov. 2, 2020 /PRNewswire/ -- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK), the world's largest cruise company, today announced that its North American cruise line brands will extend their existing pause in operations, suspending cruise voyages between Dec. 1 and Dec. 31,...
- 11/02/2020
|
CWB: The Bubble In Call Options Has Stoked A Bubble In Convertible Bonds
- Convertible bonds have risen tremendously this year as speculative technology stocks see record gains.
- 09/10/2020
|
Veolia Play For Suez: Water And Waste Get Interesting
- Veolia share price is suffering a COVID-19 reversal as it seeks to become an even bigger global water and waste powerhouse.
- 09/09/2020
|
50 Worst S&P 500 Stocks Since February Peak
- The S&P 500 has rebounded to an all-time high, but stock-level dispersion is also quite high. This article covers the bottom performing decile of the S&P 500 since the February peak, a list of stocks that are down almost 50% on average.
- 08/27/2020
|
Carnival (CCL) Gains As Market Dips: What You Should Know
- Carnival (CCL) closed at $14.60 in the latest trading session, marking a +1.32% move from the prior day.
- 08/19/2020
|
Why Cruise Line Stocks Jumped on Wednesday
- Shares of cruise line stocks had another strong start to the day Wednesday after one cruise line returned to open water and another found ways to sell high-value cruise tickets. Shares of Norwegian Cruise Line Holdings (NYSE: NCLH) rose as much as 7.7% in early trading and were still up 3.3% at 3 p.m. EDT today. Shares of Carnival (NYSE: CCL) were up 5.3% early and 1.8% higher at 3 p.m. And Royal Caribbean (NYSE: RCL) was up 6.2%, and 2.1% later in the day.
- 08/19/2020
|
Carnival's Holland America Line to Sail Again, Bookings Begin
- Carnival's (CCL) Holland America Line starts taking bookings for 2021 Grand Africa Voyage and 2022 Grand World Voyage. Early Booking Benefits are also provided for the same.
- 08/19/2020
|
Carnival Corporation & plc Announces Closing of 9.875% Second-Priority Senior Secured Notes due 2027
- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK), one of the world's largest travel and leisure companies, today announced that Carnival Corporation (the "Corporation") has closed its private offering of $900 million aggregate principal amount of 9.875% Second-Priority Senior Secured Notes due 2027 (the "Secured Notes"). The Corporation expects to use the net proceeds from the offering of the Secured Notes for general corporate purposes.
- 08/18/2020
|
Carnival's Holland America opens booking for 2021 Grand Africa and 2022 Grand World cruises
- Carnival Corp.'s Holland America Line division said Tuesday is opening bookings for the 2021 Grand Africa Voyage and 2022 Grand World Voyage. The Grand Africa Voyage is a 71-day cruise aboard Zaandam, that departs Fort Lauderdale, Florida on Oct. 10, 2021, and includes more than a dozen safari experiences. The Grand World Voyage is also aboard Zaandam, and is a 128-day voyage that departs from Fort Lauderdale on Jan. 3, 2022, and includes visits at 50 ports in 27 countries. Carnival's stock, which fell 1.7% in afternoon trading, has tumbled 71.6% year to date, while the S&P 500 has gained 4.9%.
- 08/18/2020
|
Holland America Line Opens Bookings for 2022 Grand World Voyage and 2021 Grand Africa Voyage
- Holland America Line is opening bookings for two of its most epic explorations: the 2022 Grand World Voyage and the 2021 Grand Africa Voyage. Guests who want to circle the globe on the 128-day odyssey can now make their Grand World Voyage and Africa circumnavigation reservations. Both itineraries are conveniently roundtrip from Fort Lauderdale, Florida, and include overnight calls at some of the world's most iconic cities.
- 08/18/2020
|
Stock Markets Stay Flat as Oracle Makes a TikTok Play, Carnival Gets Cyberattacked
- Tuesday morning once again showed the ambivalence among stock market investors that's plagued Wall Street for weeks now. With the clock running on an executive order that would prevent U.S. companies from doing business with a ByteDance-controlled TikTok, the pressure to get a deal done is mounting.
- 08/18/2020
|
Understanding Carnival's Unusual Options Activity
- Shares of Carnival (NYSE: CCL) saw some unusual options activity on Tuesday. Following the unusual option alert, the stock price moved down to $14.41. * Sentiment: BEARISH * Option Type: SWEEP * Trade Type: PUT * Expiration Date: 2021-01-15 * Strike Price: $10.00 * Volume: 1809 * Open Interest: 137633 Indications of Unusual Options Activity Extraordinarily large volume is one indication of unusual options activity. Volume refers to the total shares contracts traded in a day when discussing options activity. Open interest describes unsettled contracts that have been traded but not closed by a counter-party. In other words, for each contract buyer, there must be a seller. A purchased contract remains open until a seller closes it, and vice versa.When a contract has an expiration date in the distant future, it is generally another sign of unusual activity. Usually, additional time until a contract expires allows more opportunity for it to reach its strike price and grow its time value. Time value is important to consider because it represents the difference between the strike price and the value of the underlying asset.Contracts with a strike price far from the underlying price are also considered unusual because they are defined as being "out of the money". This occurs when the underlying price is under the strike price on a call option, or above the strike price on a put option. These trades are made because the underlying asset value is expected to change dramatically in the future, and the buyer or seller can take advantage of a greater profit margin.Bullish and Bearish Sentiments Options are "bullish" when a call is purchased at/near ask price or a put is sold at/near bid price. Options are "bearish" when a call is sold at/near bid price or a put is bought at/near ask price.These observations are made without knowing the investor's true intent by purchasing these options contracts. The activity is suggestive of these strategies, but an observer cannot be sure if a bettor is playing the contract outright or if the options bettor is hedging a large underlying position in common stock. For the latter case, bullish options activity may be less meaningful than the exposure a large investor has on their short position in common stock.Using These Strategies to Trade Options Unusual options activity is an advantageous strategy that may greatly reward an investor if they are highly skilled, but for the less experienced trader, it should remain as another tool to make an educated investment decision while taking other observations into account.For more information to understand options alerts, visit https://pro.benzinga.help/en/articles/1769505-how-do-i-understand-options-alertsSee more from Benzinga * Analyzing Carnival's Unusual Options Activity * Morning Market Stats in 5 Minutes * Understanding Carnival's Unusual Options Activity(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- 08/18/2020
|
Why Is Live Nation Winning Where Cruise Lines Are Losing?
- A whopping 86% of ticket holders for canceled Live Nation concerts are keeping their seats for rescheduled shows. Carnival, Royal Caribbean, and Norwegian Cruise Line haven't been so lucky.
- 08/18/2020
|
Carnival Cruise Gets Hit With Ransomware Attack
- The news comes as the cruise operator continues to struggle to get its business operating again after COVID-19 impacts.
- 08/18/2020
|
Bond Traders Ought to Swap Mythology for Modernity
- (Bloomberg Opinion) -- There’s something almost mythical about the current corporate-bond trader.While stocks and exchange-traded funds are available to buy and sell across several electronic platforms for investing newcomers and veterans alike, and U.S. Treasuries are auctioned based on a regular and predictable schedule, credit traders wake up every morning without a clear picture of what the day will bring. They rely on their Wall Street contacts and industry experience to size up the new-issue corporate-debt market and quickly determine whether they should bid on new securities and at what price. Making that calculation often requires both knowledge of broad global market sentiment and micro-level credit analysis, all in the span of hours.To adrenaline-craving traders, that probably sounds exhilarating. But it’s just as likely exhausting, particularly given 2020’s breakneck pace of new deals: U.S. investment-grade bond sales reached a yearly record this week, exceeding the previous all-time high of $1.3 trillion for all of 2017. Even though spreads on high-grade corporate debt have relentlessly narrowed this year, providing steep gains across credit funds, investors still prefer to have reasoning for their decisions and comprehensive information at their disposal instead of just chasing a rally indiscriminately.At least that seems to be the message behind a letter published Monday by the Credit Roundtable, an industry group that comprises big-name asset managers like AllianceBernstein Holding LP, Franklin Resources Inc., PGIM Fixed Income, T. Rowe Price Group Inc. and Vanguard Group Inc., along with insurance companies and California’s two main public pension funds. As Bloomberg News’s Molly Smith reported, it’s a push to make Wall Street and regulators adopt industry standards that are seen as long overdue when the biggest banks are gearing up to introduce an electronic platform for new offerings.There’s no question that the new-issue corporate-bond market appears archaic in comparison to Robinhood and other instant-trading apps. The entire process ends up taking about a day for investment-grade bonds: First an early-session announcement (Bloomberg terminal headlines declare NEW DEAL); then sometimes updated pricing relative to initial levels based on investor demand (GUIDANCE); then the actual launch that reveals or updates the size of the offering (LAUNCH); and ultimately final terms (PRICED). In the meantime, behind the scenes, traders might pass along what they hear about the size of investor bids and speculate just how much the “oversubscribed” order book will cut into yields. (Bloomberg LP, the parent of Bloomberg Opinion, provides services that facilitate bond ordering and distributes information on new debt offerings.)This year has featured severe repricing in favor of borrowers. According to Smith, yields on investment-grade bonds in 2020 have compressed more than 31 basis points on average between initial talk and final pricing, compared with less than 19 basis points in 2019 and 15 basis points in 2018. As it stands, companies have an advantage over investors because even though they might know the ideal size for their bond deal, they don’t need to disclose that figure right away. In one dramatic example during the height of the coronavirus crisis, cruise line operator Carnival Corp. dangled a huge 13% yield on its investment-grade bonds, drummed up roughly $17 billion in orders, then boosted the offering to $4 billion while trimming the coupon to 11.5%.The Credit Roundtable’s recommendations largely boil down to standardizing information and communication across new deals. The group suggests either a borrower provides “expected” credit ratings when the deal is announced or the rating companies confirm their grades within 15 minutes. Investors also want an indication of the initial deal size during the “announcement” phase, along with specific maturity dates and disclosure of any nonstandard terms. Throughout the process, they’re asking for frequent order-book updates to get a more transparent look at demand. Pricing should be wrapped up by 4:30 p.m. in New York or else risk pricing the next day.All of this sounds perfectly reasonable on its face. “It’s an effort to bring the underwriting and distribution of corporate bonds into the 21st century,” said David Knutson, vice chair of the Credit Roundtable and head of credit research for the Americas at Schroder Investment Management.So then why have these seemingly common-sense, pro-transparency adjustments remained elusive for so long? Those who follow the battles within corporate-bond market structure might recall that BlackRock Inc. and Pacific Investment Management Co., neither of whom are part of the Credit Roundtable, were on the same side recently in advocating for a pilot program that would reduce secondary-market transparency in exchange for potentially better liquidity. T. Rowe Price and Vanguard, by contrast, were among those that opposed the initiative. However, while shrouding large corporate-bond block trades in secrecy quite obviously benefits BlackRock and Pimco, it’s not as clear how keeping the current primary-market process in place gives them a disproportionate advantage.It’s possible Wall Street’s biggest banks stood in favor of the old way of doing things, but that seems to be changing. Smith’s reporting suggested the bond-buyer group wants to seize on momentum from the coming launch of DirectBooks LLC, an electronic platform for new debt offerings backed by Bank of America Corp., Barclays Plc, BNP Paribas SA, Citigroup Inc., Deutsche Bank AG, Goldman Sachs Group Inc., JPMorgan Chase & Co., Morgan Stanley and Wells Fargo & Co. Or, put another way, it has the support of the seven largest U.S. investment-grade bond underwriters, and nine of the top 11, together responsible for bringing almost $1 trillion to market this year.Maybe I’m being overly optimistic given the bond market’s history of slow progress, but it’s hard to come up with a serious case against this modernization push. That’s especially true for investment-grade debt — companies with high credit ratings are frequent borrowers and far less likely to try to sneak through unfavorable lender protections or otherwise catch investors by surprise, in contrast to high-yield bonds and leveraged loans.The only thing in jeopardy might be the image of bond traders as ultra-connected Wall Street denizens who pore over pricing updates from bank syndicates as they hit their screens. After all, it’s hard to maintain the three-decade-old reputation as Masters of the Universe when on a level playing field for information, not to mention when robots are doing an increasing share of the work. Taking obvious steps to democratize the primary market for corporate bonds is worth a dent to the mythos.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Brian Chappatta is a Bloomberg Opinion columnist covering debt markets. He previously covered bonds for Bloomberg News. He is also a CFA charterholder.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 08/18/2020
|
Carnival hit by ransomware attack, guest and employee data accessed
- Carnival, which operates AIDA, Carnival and Princess cruises among others, in a regulatory filing said https://www.sec.gov/ix?doc=/Archives/edgar/data/815097/000095014220002039/eh2001078_8k.htm the attack included unauthorized access to personal data of guests and employees. The attack adds to the woes of the company that has been already struggling with suspension of its cruises for months due to the COVID-19 pandemic amid travel restrictions across the world. Certain data files were downloaded during the attack, Carnival said, and added that there was no assurance that information technology systems of its other brands will not be adversely affected.
- 08/18/2020
|
Shorts Betting On Carnival Corp.'s Bankruptcy May Be Disappointed
- Faster cruise restarts in Asia and Europe bode well for a quicker breakeven. Carnival has enough liquidity runway to last until the end of 2021 under a no-revenue scenario.
- 08/18/2020
|
US Indexes Close Mostly Higher Monday
- Dow Jones down 0.31% Continue reading...
- 08/17/2020
|
Carnival hit by ransomware attack, guest and employee data accessed
- Carnival, which operates AIDA, Carnival and Princess cruises among others, in a regulatory filing said https://www.sec.gov/ix?doc=/Archives/edgar/data/815097/000095014220002039/eh2001078_8k.htm the attack included unauthorized access to personal data of guests and employees. The attack adds to the woes of the company that has been already struggling with suspension of its cruises for months due to the COVID-19 pandemic amid travel restrictions across the world. Certain data files were downloaded during the attack, Carnival said, and added that there was no assurance that information technology systems of its other brands will not be adversely affected.
- 08/17/2020
|
Carnival launches probe after detecting a ransomware attack
|
Stocks on the move: Sorrento Therapeutics falls on coronavirus test competition, Carnival begins sailing in Germany
- Yahoo Finance's Adam Shapiro breaks down the stocks to watch Monday.
- 08/17/2020
|
Is Carnival Stock a Buy?
- The cruise company is facing an extended pause as the pandemic rages on, even while some of its brands resume sailing next month.
- 08/16/2020
|
Carnival Corporation & plc Announces Pricing of $900 Million Second-Priority Senior Secured Notes due 2027
- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) (the "Company"), one of the world's largest leisure travel companies, today announced that Carnival Corporation (the "Corporation") has priced the private offering of $900 million aggregate principal amount of 9.875% second-priority senior secured notes due 2027 of the Corporation (the "Notes"). The offering of the Notes is expected to close on August 18, 2020, subject to customary closing conditions.
- 08/14/2020
|
You Should Fade This Carnival Cruise Lines Stock Rally While You Still Can
- Carnival (NYSE:CCL,NYSE:CUK) stock is showing signs of life. CCL stock last week slid to its lowest level in more than two months. Since then, it's rallied 21% in six sessions.Source: Ruth Peterkin / Shutterstock.com The gains certainly are welcome. Even with the bounce, CCL stock and CUK stock remain the two worst large-cap (over $10 billion) stocks so far in 2020. They've declined 69% and 72%, respectively; Occidental Petroleum (NYSE:OXY) is next, losing 'just' 63% of its value this year.But the gains also are a bit curious. Carnival itself really hasn't delivered much in the way of news over the past week or so. Rather, investors seem to be betting on stocks like Carnival, perhaps hoping for a return to normalcy.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThose hopes have some validity. Work continues apace on a vaccine, with Moderna (NASDAQ:MRNA) coming to a supply agreement with the federal government on Tuesday. And at some point, life will return to normal. * 8 Cheap Stocks to Keep on Your Short List But that alone is not enough to make the case for CCL stock. At the least, it's not enough to choose CCL over other plays that similarly could benefit from optimism toward normalcy and its eventual arrival. Not Just CarnivalAgain, it's not just Carnival that has rallied of late.Airline stocks have gained. The U.S. Global Jets ETF (NYSEARCA:JETS) has risen for eight straight sessions, gaining 14% in the process. Major U.S. airlines like Delta Air Lines (NYSE:DAL) and United Airlines (NASDAQ:UAL) have rallied even faster.Indeed, Carnival stock isn't even the only cruise play to rally. While CCL is up 21% over six sessions, Royal Caribbean (NYSE:RCL) is +24% and Norwegian Cruise Lines (NYSE:NCLH) +20%.It's difficult to pinpoint exactly why the sector lately has popped. Lower prices certainly helped; most of these other stocks also touched a multi-month low last week. The end of a blowout earnings season for tech, and huge rallies in the market's biggest names, may have led some investors to rotate out of growth names and into value plays.Or it could hope for and/or optimism toward better times for the industry. Whatever the cause, CCL stock is not alone. Two Big Problems for CCL StockI'm broadly sympathetic to the investment case for the kinds of stocks that have rallied over the past few sessions. Normalcy will return, one way or another. Near-term losses are material, but there should be pent-up demand for travel that might lead to a few blowout quarters down the line.And with such steep sell-offs, a return to past highs suggests enormous upside. Carnival, for instance, would rally about 200%. That process could take a decade, and Carnival still would be a fantastic investment.But for CCL in particular, that case falls somewhat flat. The company has raised billions of dollars in debt this year that has to be paid off out of future earnings. Guidance for 2020 in fact suggests that Carnival will burn over $7 billion in cash in 2020 alone, a material portion of a current $11 billion market capitalization.The burn doesn't stop when the calendar turns, either. Wall Street sees the company losing more than $2 per share next year; even accounting for likely reduced capital expenditures, Carnival could burn another $1 billion next year. From that point on, interest expense will be significantly elevated for years to come.The other problem is that the pandemic hits Carnival's business model in a way that simply isn't true for airlines, in particular. How many potential customers have been turned off from the industry for good owing to stories of cruisers being stuck on ships for weeks at a time? How many are going to buy or rent recreational vehicles instead, or risk two airline flights that last a few hours instead of a cruise that lasts at least several days? What Normalcy MeansPut another way, normalcy for all of us doesn't mean normalcy for Carnival. Demand is going to be lower for years, and possibly for good. (That's doubly true given that millennials, at least for now, don't seem terribly interested in the industry, perhaps in part due to its environmental impact.)And given costs that are going to clear $10 billion between losses, dilution, and interest expense, a return to normalcy doesn't mean that CCL stock goes back above $50.In contrast, some travel names have a clearer path toward restoring past profits. Admittedly, those stocks haven't fallen as far as CCL. But that's not because Carnival stock is a better opportunity.It's because Carnival has bigger problems than even some of the companies most impacted by the pandemic. And that suggests that this short-term rally in CCL stock is likely to run into renewed long-term skepticism.Vince Martin has covered the financial industry for close to a decade for InvestorPlace.com and other outlets. He has no positions in any securities mentioned. More From InvestorPlace * Why Everyone Is Investing in 5G All WRONG * America's 1 Stock Picker Reveals His Next 1,000% Winner * Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company * Radical New Battery Could Dismantle Oil Markets The post You Should Fade This Carnival Cruise Lines Stock Rally While You Still Can appeared first on InvestorPlace.
- 08/14/2020
|
UK transport minister says people know the risks of travel in 2020
|
UK says it has no choice over quarantine for French arrivals
|
Carnival (CCL) Gains As Market Dips: What You Should Know
- In the latest trading session, Carnival (CCL) closed at $15.22, marking a +0.2% move from the previous day.
- 08/13/2020
|
Cross-Sector: Market Data Highlights
|
Hedge funds make $1 bln from bets against travel companies
|
Implied Volatility Surging for Carnival (CCL) Stock Options
- Investors need to pay close attention to Carnival (CCL) stock based on the movements in the options market lately.
- 08/13/2020
|
Carnival's AIDA Cruises seeking German government aid - report
- Carnival Corp's AIDA cruise operator is among a list of companies seeking state aid from the German government, the Business Insider website reported on Thursday. AIDA is seeking about half a billion euros ($591 million) in state aid, Business Insider said, citing a government list of companies seeking support, which also includes shipbuilder MV Werften and steel producer Georgsmarienhuette. Germany is examining requests from at least 14 companies for state aid that could see the government take on more stakes in privately held firms due to the COVID-19 pandemic, an economy ministry document seen by Reuters showed on Tuesday.
- 08/13/2020
|
Why Carnival's Stock Is Trading Lower Today
- Carnival Corp (NYSE: CCL) shares are trading lower on Wednesday after Morgan Stanley maintained its Underweight rating on the stock and lowered its price target from $11 to $10 per share.Carnival is the largest global cruise company, with more than 100 ships on the seas at the end of 2019. Its portfolio of brands includes Carnival Cruise Lines, Holland America, Princess Cruises, and Seabourn in North America; P&O Cruises and Cunard Line in the United Kingdom; Aida in Germany; Costa Cruises in Southern Europe; and P&O Cruises in Australia. Carnival also owns Holland America Princess Alaska Tours in Alaska and the Canadian Yukon. Carnival's brands attracted about 13 million guests in 2019.Carnival Cruise shares were down 4.42% at $15.12 at time of publication on Wednesday. The stock has a 52-week high of $51.94 and a 52-week low of $7.80.Related Links:Carnival's Princess Cruises Reports Voluntary Pause Of Worldwide Ship Operations For 60 DaysCarnival Falls After Cutting GuidanceLatest Ratings for CCL DateFirmActionFromTo Aug 2020Morgan StanleyMaintainsUnderweight Jul 2020HSBCDowngradesBuyHold Jul 2020Credit SuisseMaintainsNeutral View More Analyst Ratings for CCL View the Latest Analyst RatingsSee more from Benzinga * Cruise Stocks Fall After Halting Trips From US Ports(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- 08/12/2020
|
Why Royal Caribbean, Carnival, and Norwegian Cruise Line Stocks Crashed Today
- After two straight days of gains, cruise line stocks were headed back down today. Whether it's Carnival's (NYSE: CCL) 5.4% decline, Royal Caribbean's (NYSE: RCL) 5.2% slide, or Norwegian Cruise Line Holdings' (NYSE: NCLH) more modest 4% slump (all as of 1:05 p.m. EDT on Wednesday), every major publicly traded cruise line stock is sinking today. The pair of analyst price-target cuts that Royal Caribbean stock suffered on Tuesday is catching up to the cruisers today.
- 08/12/2020
|
Stock Markets Bounce Back, but Cruise Ship Stocks Start to Write Off 2020
- Enthusiasm about the potential for another coronavirus stimulus package, along with prospects for a viable COVID-19 vaccine, helped give market participants the green light to push ahead with gains. In particular, for cruise ship stocks, even a more broadly upbeat outlook for the overall economy hasn't made it clear whether ships will be able to set sail anytime soon. The stock performance for companies across the cruise industry was downbeat Wednesday.
- 08/12/2020
|
Uh-Oh: Another Cruise Line Closes In on Calling 2020 Off
- A second Carnival cruise line pushes off its sailings until mid-December. Getting things back on track in 2021 won't be easy.
- 08/12/2020
|
Carnival's Holland America cancels more cruises through December
- Carnival Corp.'s Holland America on Tuesday extended its halt on cruises through Dec. 15 as travel and port restrictions due to the pandemic continue. Cancelled cruises included trips to the Caribbean, Mexico, and Australia. The company had already cancelled its Alaska, Europe and Canada/New England cruises for 2020 and some Hawaii itineraries through early 2021. Buyers will automatically receive credit for a future cruise or opt for a full refund by Sept. 15, the company said. Carnival shares have lost 68% this year, contrasting with gains around 4% for the S&P 500 index.
- 08/11/2020
|
Why Royal Caribbean, Carnival, and Norwegian Cruise Line Stocks Are Still Rocking
- For the second day in a row, cruise line stocks are full speed ahead and racing for the open sea. Yesterday, a better-than-expected revenue report out of Royal Caribbean (NYSE: RCL) sparked a rally across the cruise line sector. The momentum is carrying into this afternoon, with Royal Caribbean shares gaining another 4.3% through 12:15 p.m. EDT, Carnival Corporation (NYSE: CCL) lagging just a bit with a 3.6% gain, and Norwegian Cruise Line Holdings (NYSE: NCLH) up a solid 6%.
- 08/11/2020
|
US STOCKS-S&P 500 nears record high on stimulus bets
- The S&P 500 on Tuesday rose for an eighth straight session and was within striking distance of its February peak, a level last seen before the onset of the coronavirus crisis that caused one of Wall Street's most dramatic crashes in history. The benchmark index was about half a percent below the all-time high it hit on Feb. 19, when investors started dumping shares in anticipation of what proved to be the biggest slump in the U.S. economy since the Great Depression.
- 08/11/2020
|
Holland America Line Extends Its Pause of Cruise Operations to All Departures Through Dec. 15, 2020
- With the continuation of travel and port restrictions due to global health concerns, Holland America Line is extending its pause of cruise operations and cancelling departures on all ships through Dec. 15, 2020.
- 08/11/2020
|
Now Might Be a Good Time to Cover Your Royal Caribbean Short Position
- With cash crunch concerns abated and passengers hungry to start sailing again next year, it's hard to bet against the class act of the cruise line industry.
- 08/11/2020
|
Carnival's P&O Cruises to extend sailing pause into November, but Costa Cruises to start sailing next month
- Carnival Corp.'s U.K.-based P&O Cruises said Tuesday that it will extend its pause in operations until Nov. 12, after guidance from the Foreign & Commonwealth Office (FCO). The cruise operator has also cancelled two long cruises scheduled to depart in January 2021. Meanwhile, Carnival's Italy-based Costa Cruises is planning to restart operations "gradually" from Italian ports on Sept. 6. The first cruise ship to depart will be Costa Deliziosa, which will offer weekly cruises from Trieste, followed by Costa Diadema on Sept. 19 from Genoa. Carnival's stock, which surged 3.6% in premarket trading, has tumbled 69.6% year to date through Monday, while the S&P 500 has gained 4.0%.
- 08/11/2020
|
Americans Are Taking Back to the Skies and Seas as Virus Slows
|
P&O Cruises extends pause to mid-November and cancels long cruises following FCO guidance
- In an acknowledgement of Foreign & Commonwealth Office (FCO) guidance, P&O Cruises has extended its pause in operations until November 12, 2020, and also cancelled two long itineraries due to depart in January 2021.
- 08/11/2020
|
Large Caps Extend Gains With Higher Close Monday
- Dow Jones gains 1.30% Continue reading...
- 08/10/2020
|
Holland America Line Takes Cruisers on a Weeklong Virtual Voyage to Norway the Week of Aug. 16, 2020
- Following the success of its Virtual Voyage to Alaska in June, Holland America Line is setting sail on social media once again, this time taking fans on a weeklong virtual cruise to Norway. "Departing" Sunday, Aug. 16, 2020, guests can cruise aboard Nieuw Statendam as the ship follows Holland America Line's poplar "Norse Legends" itinerary. The premium cruise line will bring the experience to life on the brand's Facebook page, as well as Brand Ambassador Seth Wayne's Facebook page, with live events, scenic videos, vivid imagery and interactive activities.
- 08/10/2020
|
Seabourn Announces Upcoming Voyage Cancellations For Three Ships As Part Of Pause In Global Ship Operations
- Seabourn, the ultra-luxury travel experience, announced today that it will cancel upcoming voyages for three cruise ships in its fleet as a part of its pause in global ship operations.
- 08/10/2020
|
Why Royal Caribbean, Carnival, and Norwegian Cruise Line Stocks Just Jumped
- The three cruise stocks are going up today, but there's one big risk you should keep your eye on regardless.
- 08/10/2020
|
Analyzing Carnival's Unusual Options Activity
- On Monday, shares of Carnival (NYSE: CCL) saw unusual options activity. After the option alert, the stock price moved up to $15.22. * Sentiment: BULLISH * Option Type: SWEEP * Trade Type: PUT * Expiration Date: 2020-08-21 * Strike Price: $17.50 * Volume: 842 * Open Interest: 107573 Signs of Unusual Options Activity Exceptionally large volume is one way options activity can be considered unusual. The volume of options activity refers to the number of shares contracts traded for a day. Open interest describes unsettled contracts that have been traded but not closed by a counter-party. In other words, for each contract buyer, there must be a seller. A purchased contract remains open until a seller closes it, and vice versa.When a contract has an expiration date in the distant future, it is generally another sign of unusual activity. Usually, additional time until a contract expires allows more opportunity for it to reach its strike price and grow its time value. Time value is important to consider because it represents the difference between the strike price and the value of the underlying asset."Out of the money" contracts are unusual because they are purchased with a strike price far from the underlying asset price. "Out of the money" occurs when the underlying price is under the strike price on a call option, or above the strike price on a put option. Buyers and sellers try to take advantage of a large profit margin in these instances because they are expecting the value of the underlying asset to change dramatically in the future.Bullish and Bearish Sentiments Options are "bullish" when a call is purchased at/near ask price or a put is sold at/near bid price. Options are "bearish" when a call is sold at/near bid price or a put is bought at/near ask price.These observations are made without knowing the investor's true intent by purchasing these options contracts. The activity is suggestive of these strategies, but an observer cannot be sure if a bettor is playing the contract outright or if the options bettor is hedging a large underlying position in common stock. For the latter case, bullish options activity may be less meaningful than the exposure a large investor has on their short position in common stock.Using These Strategies to Trade Options Unusual options activity is an advantageous strategy that may greatly reward an investor if they are highly skilled, but for the less experienced trader, it should remain as another tool to make an educated investment decision while taking other observations into account.For more information to understand options alerts, visit https://pro.benzinga.help/en/articles/1769505-how-do-i-understand-options-alertsSee more from Benzinga * Morning Market Stats in 5 Minutes * Understanding Carnival's Unusual Options Activity * Morning Market Stats in 5 Minutes(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- 08/10/2020
|
Carnival (CCL) Down 2.5% Since Last Earnings Report: Can It Rebound?
- Carnival (CCL) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
- 08/09/2020
|
Carnival Corporation & plc Announces Closing of an Equity Offering and Repurchase of Convertible Notes
- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK), one of the world's largest leisure travel companies, today announced that Carnival Corporation (the "Corporation") has closed its previously announced registered direct offering of 93,663,808 shares of its common stock at a price of $14.02 per share to a limited number of holders of its 5.75% Convertible Senior Notes due 2023 (the "Convertible Notes"). The Corporation used the proceeds from this closing to repurchase $836,284,000 principal amount of its Convertible Notes in privately negotiated transactions.
- 08/07/2020
|
Why Caesars Stock Is One of the Best Plays on a Return to Normalcy
- It might seem ludicrous to recommend a stock a day after it reported an 80% decline in revenue. But that's exactly what I'm doing with Caesars (NASDAQ:CZR) stock.Source: Jason Patrick Ross/Shutterstock.com The former Eldorado Resorts, whose acquisition of Caesars closed last month (Eldorado took the Caesars name), admittedly had an ugly second quarter. But, of course, that's no surprise. Due to the novel coronavirus pandemic, all of the company's properties closed at some point during Q2.There simply wasn't much Eldorado and Caesars could do.InvestorPlace - Stock Market News, Stock Advice & Trading TipsHowever, at this point, what happened in the second quarter simply isn't all that material. And now, what matters for CZR stock is what should happen going forward. * 7 Travel Stocks to Buy Banking On Pent-Up Demand That said, what should happen going forward is normalcy. It may take some time -- even years. But CZR stock is cheap enough, and has big enough upside, that it should be more than worth the wait. And here's why. The Best 'Return to Normalcy' PlayThere is no shortage of cheap stocks in the market that are dealing with short-term pandemic effects. Airline stocks, as measured by the U.S. Global Jets ETF (NYSEARCA:JETS), are down by almost half so far in 2020. Cruise stocks have performed even worse, as Royal Caribbean (NYSE:RCL) is off 61% and Carnival (NYSE:CCL,NYSE:CUK) 75% year-to-date. Other travel and leisure names, along with many brick-and-mortar retailers too have taken a big hit.Those big losers would seem to be targets for value investors with a long-term focus. After all, this pandemic will end. One of the many biotechs targeting a vaccine will succeed, or a treatment will be developed. And when we finally, fortunately, reach that point, normalcy presumably will return and these battered stocks can rally.The problem for most of these names, however, is that there are long-term impacts as well. Carnival, for instance, this crisis likely will irreparably affect demand. Airlines face the likelihood of persistently lower business travel as Zoom Video Communications (NASDAQ:ZM) gains more and more adoption.Thus, the argument that pandemic losers will rally back to past highs falls flat. Simply put, it's not that simple.However, CZR stock lacks those concerns. Near-term losses are modest. In fact, the company's net loss for Q2 was just $100 million. And while the gaming industry likely will be changed, those changes aren't necessarily going to be negative. For Carnival, the likely end of buffets removes a key selling point. For Caesars, as chief executive officer Tom Reeg noted after Q1, the end of buffets represents a potential source of cost savings.Meanwhile, gaming demand will return. It's an activity that has lasted for centuries. And as a result, CZR stock looks like one of -- if not the -- best "return to normalcy" plays out there. The Best Gaming Play, TooTo be sure, that case for CZR stock could apply to many other U.S. casino operators as well. However, most of those operators have significantly outperformed CZR stock so far this year.Prior to the deal with Eldorado, Caesars stock had declined 8.7% YTD, while Boyd Gaming (NYSE:BYD) is down just 14.6% YTD. Churchill Downs (NASDAQ:CHDN), meanwhile, has rallied 18.3%. And Penn National (NASDAQ:PENN) has soared 90%, thanks to its acquisition of a stake in Barstool Sports.The rallies in CHDN and PENN, admittedly, are driven by optimism toward online gambling and sports betting. Those rallies make some sense, and I've recommended PENN since early April.However, Caesars has a big opportunity there as well. Obviously, the company has a significant presence in Reno and Las Vegas, where sports betting already is legalized. The company also has regional casinos, however, and a significant agreement with U.K. bookmaker William Hill (OTCMKTS:WIMHY).Investors are rightly focused on the long-term opportunity ahead of Penn and Churchill Downs. But, for some reason, they're ignoring the opportunity in front of Caesars. CZR Stock a Long-Term BuyI don't believe investors will ignore that opportunity forever, though. It's too large, and there's too much to recommend CZR stock even before normalcy arrives.After all, this had been the best stock in all of gaming before the pandemic arrived. Management is excellent. The acquisition has its risks, but the former Eldorado successfully integrated Isle of Capri and Tropicana Entertainment, acquired in 2017 and 2018, respectively.Admittedly, the stock may take some patience; we'll see how investors react to ugly Q2 numbers. But as normalcy returns to everyday life, it should do the same to CZR stock. With the stock down almost 50% from February highs, that suggests a reasonable path to a double. And those are the kind of returns worth waiting for.Matthew McCall left Wall Street to actually help investors -- by getting them into the world's biggest, most revolutionary trends BEFORE anyone else. Click here to see what Matt has up his sleeve now. As of this writing, Matt did not hold a position in any of the aforementioned securities. More From InvestorPlace * Why Everyone Is Investing in 5G All WRONG * America's 1 Stock Picker Reveals His Next 1,000% Winner * Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company * Radical New Battery Could Dismantle Oil Markets The post Why Caesars Stock Is One of the Best Plays on a Return to Normalcy appeared first on InvestorPlace.
- 08/07/2020
|
Convertibles Momentum Grows As Companies Are Increasingly Opting For Convertibles To Raise Funds
- Convertible bond sales have reached their peak since 2017. The trend is explained by the economic implications of the coronavirus pandemic on the global economy.
- 07/27/2020
|
ROSEN, A LEADING, LONGSTANDING, AND TOP RANKED FIRM, Reminds Carnival Corporation & Plc Investors of Important July 27 Deadline in Securities Class Action – CCL, CUK
- NEW YORK, July 17, 2020 -- Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Carnival Corporation & Plc (NYSE: CCL, CUK) between.
- 07/17/2020
|
Stocks on the move: Microsoft job cuts, Cruise lines can't sail
- Yahoo Finance's Julie Hyman breaks down the stocks making the biggest moves of the day.
- 07/17/2020
|
CLASS ACTION UPDATE for CCL, BKD and WRCDF: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders
|
JULY 27 DEADLINE: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Carnival Corporation & Plc and Encourages Investors with Losses in Excess of $750,000 to Contact the Firm
- LOS ANGELES, CA / ACCESSWIRE / July 17, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class-action lawsuit against Carnival Corporation & Plc ("Carnival" or "the Company") (NYSE:CCL) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Investors who purchased the Company's securities between January 28, 2020 and May 1, 2020, inclusive (the ''Class Period'') are encouraged to contact the firm before July 27, 2020.
- 07/17/2020
|
CLASS ACTION UPDATE for CCL, WFC and BKD: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders
|
Cruise stocks dive as CDC extension of no-sail order could be just the beginning
- Shares of cruise operators took a hit Friday by the extension of the no-sail order by the Centers for Disease Control and Prevention, in the wake of the recent surge in COVID-19 cases.
- 07/17/2020
|
The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of CCL, WFC and GEO
|
CDC Extends Cruise Line No-Sail Order Through Sept. 30
- At 4 p.m. Thursday, just as trading closed on the stock market, the Centers for Disease Control and Prevention (CDC) announced that it has "extended the No Sail Order and Suspension of Further Embarkation" through Sept. 30. This means, in essence, that no cruise line will be able to sail out of an American port before that date, unless either the Secretary of Health and Human Services declares that COVID-19 no longer constitutes a public health emergency, or the CDC Director otherwise rescinds or modifies the no-sail order based on specific public health or other considerations. The good news is that the major cruise lines, via their industry association Cruise Lines International Association (CLIA), had already announced they would voluntarily extend their own suspension of cruise operations through Sept. 15, 2020.
- 07/17/2020
|
CCL; CUK Investor Update: Bronstein, Gewirtz & Grossman, LLC Reminds Investors of Class Action Against Carnival Corporation & Plc and Encourages Investors to Contact the Firm
- NEW YORK, July 17, 2020 -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Carnival.
- 07/17/2020
|
Carnival Deadline Alert: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In Carnival Corporation & Plc To Contact The Firm
- New York, New York--(Newsfile Corp. - July 17, 2020) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Carnival Corporation ("Carnival" or the "Company") (NYSE:CCL) of the July 27, 2020 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. If you invested in Carnival stock or options between January 28, 2020 and May 1, 2020 and would ...
- 07/17/2020
|
Cruise stocks drop after CDC extends no sail order, and analyst says more delays expected
- Shares of cruise operators fell in premarket trading Friday, after the Centers of Disease Control and Prevention (CDC) extended its cruise ship "no sail order" through September 2020 amid a surge in new COVID-19 cases. The CDC's previous order was set to expire on July 24. Shares of Norwegian Cruise Line Holdings Ltd. dropped 2.7% ahead of the open, Royal Caribbean Cruises Ltd. shed 2.6% and Carnival Corp. fell 1.1%. SunTrust Robinson Humphrey analyst Patrick Scholes said the CDC's extended order "should not be too much of a surprise," as it comes after the last month's announcement by Cruise Lines International Association of an agreement to voluntarily extend the suspension of operations from U.S. ports until Sept. 15. "We continue to believe that sailings will not resume in quantity in North America until at least 2Q21," Scholes wrote in a note to clients. "Subsequently, we reiterate our belief there will be continued investor disappointment as further starting date delays are announced. Norwegian's stock has plunged 73.3% year to date, Royal's stock has tumbled 59.6% and Carnival shares have slumped 69.0%, while the S&P; 500 has eased 0.5%.
- 07/17/2020
|
Norwegian, Carnival, Royal Caribbean Extend Losses As CDC Furthers Cruise Sail Ban
- The shares of Norwegian Cruise Line Holdings Ltd (NYSE: NCLH), Carnival Corp. (NYSE: CCL), and Royal Caribbean Cruises Ltd (NYSE: RCL) continued to dip in the after-hours session Thursday, as the Centers For Disease Control and Prevention extended its ban on cruise sailing in the United States.What Happened In an order Thursday, the CDC extended the suspension of "passenger operations on cruise ships with the capacity to carry at least 250 passengers in waters" through September 15."If unrestricted cruise ship passenger operations were permitted to resume, passengers and crew on board would be at increased risk of COVID-19 infection and those that work or travel on cruise ships would place substantial unnecessary risk on healthcare workers, port personnel and federal partners, and the communities they return to," the federal agency said in a statement.According to the CDC data between March and July, there have been 2,973 coronavirus or coronavirus-like illnesses on cruise ships since March, including 34 deaths.Why It Matters Cruise companies have been voluntarily delaying resuming their operations as well, with the risk of coronavirus spread remaining especially high in contained spaces.Norwegian announced last month it was suspending its voyages through October, and rival Carnival has also suspended its operations through mid-September at least.Miami-based Norwegian earlier in the day said it intended to raise $925 million via debt offerings and $250 million via stock offerings, as it looks to keep the business afloat during the pandemic.Price Action Carnival shares traded 1% lower in the after-hours session at $15.78 on Thursday, after closing the regular session 9.7% lower at $15.78.Royal Caribbean was down 0.4% at $53.94. It had closed the regular session 7.6% lower at $53.94.Norwegian dropped 0.7% further from the 15.6% lower close at $15.61 in the regular session.See more from Benzinga * iPhone Chipmaker TSMC Reports Massive Earnings Beat In Q2 * Biohaven Pharmaceutical's Migraine Drug To Be Promoted by Khloe Kardashian * GoHealth Shares Drop 9% On Day One Trading After 3M IPO(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- 07/17/2020
|
SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Carnival Corporation & Plc of a Class Action Lawsuit and a Lead Plaintiff Deadline of July 27, 2020 - CCL
- New York, New York--(Newsfile Corp. - July 16, 2020) - The following statement is being issued by Levi & Korsinsky, LLP:To: All persons or entities who purchased or otherwise acquired securities of Carnival Corporation & Plc ("Carnival") (NYSE: CCL) between September 26, 2019 and May 1, 2020. You are hereby notified that a securities class action lawsuit has been commenced in the the United States District Court for the Southern District of Florida. ...
- 07/17/2020
|
SHAREHOLDER ALERT: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Carnival Corporation & Plc and Encourages Investors with Losses in Excess of $750,000 to Contact the Firm
- LOS ANGELES, CA / ACCESSWIRE / July 16, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class-action lawsuit against Carnival Corporation & Plc ("Carnival" or "the Company") (NYSE:CCL) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Investors who purchased the Company's securities between January 28, 2020 and May 1, 2020, inclusive (the ''Class Period'') are encouraged to contact the firm before July 27, 2020.
- 07/17/2020
|
CDC extends U.S. cruises no-sail order until September end
- The U.S. Centers for Disease Control and Prevention (CDC) on Thursday extended its no-sail order for all cruise ships through September end, in a bid to contain the rapid spread of the novel coronavirus. The CDC's initial order was issued on March 14 and was subsequently extended to July 24, with the current extension taking the number of days cruise operators will have paused operations to 200. The new order says cruise ships have to cease operations until Sept. 30 unless the Secretary of Health and Human Services declares COVID-19 no longer constitutes a public health emergency or if the CDC director rescinds or modifies the order.
- 07/16/2020
|
Why Norwegian Cruise Line, Carnival, and Royal Caribbean Stocks Sank Today
- The major cruise ship operators are being forced to take on expensive debt to survive the coronavirus pandemic.
- 07/16/2020
|
U.S. ban on cruise ships extended through September
- Federal health officials are extending the U.S. ban on cruise ships through the end September as coronavirus infections rise in most U.S. states, including Florida.
- 07/16/2020
|
CDC Extends No Sail Order Banning Cruises Until October
- The Centers for Disease Control and Prevention extended its no sail order for the cruise industry on Thursday, banning cruises from operating out of U.S. ports through Sept 30. It first issued the order on March 14 that was set to expire next week. In its extension, the CDC reiterated its belief that "cruise ship […]
- 07/16/2020
|
Carnival and Royal Caribbean Receive UK Coronavirus Aid After Cruise Snub in U.S.
- Back when the CARES Act was passed in April, much was made over Congress' somewhat surprising decision to leave the cruise lines out of its massive fiscal stimulus program. The act stipulated that recipients must be "created or organized in the United States or under the laws of the United States and has significant operations […]
- 07/16/2020
|
3 Reasons Robinhood Investors Are Missing the Boat on Cruise Line Stocks
- The popular trading platform loves Carnival, Norwegian Cruise Line, and, to a lesser extent, Royal Caribbean -- and that's a mistake in more ways than one.
- 07/16/2020
|
Scott+Scott Attorneys at Law LLP Reminds Investors of Securities Class Action Against Carnival Corporation (CCL) and July 27 Deadline
- NEW YORK, July 16, 2020 -- Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international shareholder and consumer rights litigation firm, reminds investors of pending.
- 07/16/2020
|
Norwegian Cruise Line warns of "insignificant" second-quarter revenue
- Norwegian Cruise Line Holdings Ltd said on Thursday it expected little revenue in the second quarter, as the COVID-19 pandemic brought global tourism to a standstill and forced the company to suspend all voyages for months. Crushed by a wave of cancellations and steep fall in bookings, the company said it plans to raise about $925 million in two new bond offerings to ride out the rest of the year and repay a $675 million credit line. Rival Carnival Corp said on Wednesday it also plans on raising about $1.26 billion in bond offerings.
- 07/16/2020
|
Why Carnival, Royal Caribbean, and Norwegian Cruise Line Stocks Soared Today
- Cruise ship stocks surged on Wednesday after investors received exciting news about an experimental COVID-19 vaccine. Surging COVID-19 case counts have weighed heavily on the cruise industry. Royal Caribbean, Carnival, and Norwegian have had their ships stuck at port for months, following a string of coronavirus-related outbreaks aboard their vessels.
- 07/15/2020
|
Carnival to raise $1.26 billion in debt to deal with COVID-19 impact
- Carnival Corp is planning to raise about $1.26 billion in a bond offering, the beleaguered cruise operator said Wednesday as it struggles to stay afloat after the COVID-19 pandemic impacted its business. The senior secured notes are due 2026, with the offering expected to close on July 20, Carnival said. Carnival said the notes will be secured by a second-priority lien, a lower priority of repayment in case of bankruptcy or liquidation of assets.
- 07/15/2020
|
US STOCKS-Wall Street rallies on vaccine bets, Goldman results
- U.S. stocks ended sharply higher on Wednesday, with the S&P; 500 at its highest since early June, following promising early data for a potential COVID-19 vaccine and a strong quarterly report from Goldman Sachs. Moderna Inc rallied 6.9% after a small-scale study showed its experimental COVID-19 vaccine produced high levels of virus-killing antibodies. The S&P; 500 beat the technology-heavy Nasdaq Composite for a fourth straight session, a feat scored only twice since Wall Street launched its massive recovery last March.
- 07/15/2020
|
Carnival Corporation & plc Announces Pricing of $775 Million and €425 Million Second-Priority Senior Secured Notes due 2026
- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) (the "Company") one of the world's largest leisure travel companies, today announced that Carnival Corporation (the "Corporation") has priced the private offerings of $775 million aggregate principal amount of 10.500% second-priority senior secured notes due 2026 of the Corporation (the "USD Notes") and €425 million aggregate principal amount of 10.125% second-priority senior secured notes due 2026 of the Corporation ( the "Euro Notes" and, together with the USD Notes, the "Notes"). The offering of the Notes is expected to close on July 20, 2020, subject to customary closing conditions.
- 07/15/2020
|
US STOCKS-Wall St ends higher on vaccine bets, Goldman results
- U.S. stocks ended higher on Wednesday, following promising early data for a potential COVID-19 vaccine and a strong quarterly report from Goldman Sachs. Moderna Inc rallied after a small-scale study showed its experimental COVID-19 vaccine produced high levels of virus-killing antibodies. Gains for the Nasdaq were capped by online retail giant Amazon.com Inc, video streaming platform Netflix Inc and Microsoft Corp, which slipped after surging to record highs recently.
- 07/15/2020
|
Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Colony Capital, Sorrento Therapeutics, Carnival Corporation, and Wells Fargo and Encourages Investors to Contact the Firm
- NEW YORK, July 15, 2020 -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on.
- 07/15/2020
|
US STOCKS-Wall St rises on vaccine hopes, Goldman profit beat
- U.S. stocks rose on Wednesday with the S&P; 500 hovering near its highest level in more than four months following promising early data for a potential COVID-19 vaccine and a strong quarterly showing by Goldman Sachs. Moderna Inc rose 5.8% after a small-scale study showed its experimental COVID-19 vaccine produced high levels of virus-killing antibodies. Travel-related stocks Carnival Corp, Royal Caribbean Cruises Ltd, Marriott International and Wynn Resorts rose between 6% and 17%, with the S&P; 1500 airlines index up 6%.
- 07/15/2020
|
DEADLINE ALERT for CLNY, CCL, and WFC: The Law Offices of Frank R. Cruz Reminds Investors of Class Actions on Behalf of Shareholders
- LOS ANGELES, July 15, 2020 -- The Law Offices of Frank R. Cruz reminds investors that class action lawsuits have been filed on behalf of shareholders of the following.
- 07/15/2020
|
Cruise Stocks Soar as Stock Markets Get a Shot in the Arm From Coronavirus Vaccine News
- The stock market has been sensitive to the ups and downs of the COVID-19 pandemic. With many businesses having remained closed for months during the second quarter, investors are understandably nervous about how the just-started earnings season will go.
- 07/15/2020
|
Why Carnival Corp (CCL) Stock is a Compelling Investment Case
- On July 14, 2020, Silver Ring Value Partners LP released its Q2 2020 Investor Letter, a copy of which you can download here. The investment firm was founded in 2016 by Chief Investment Officer and Managing Partner Gary Mishuris. In its Q2 2020 Investor Letter, Silver Ring Value Partners LP reported 14 investments with a […]
- 07/15/2020
|
Vaccine Promise Lifts Travel Stocks As Rising Cases Hurt Demand
- Travel stocks rallied with the broader market on Wednesday after Moderna's coronavirus vaccine candidate triggered a strong immune response.
- 07/15/2020
|
Carnival Wants to Add Even More Debt to Its Already Massive Debt Load
- The cruise ship operator is trying to stay afloat until it can begin heading back out to sea next month.
- 07/15/2020
|
Inflation Of The Everything Bubble Continues
- S&P 500 futures gapped up Wednesday morning, and are now trading above the critical 3,200-3,220 level.
- 07/15/2020
|
US STOCKS-Futures gain as vaccine hopes offset U.S.-China tensions
|
Silver Ring Value Partners Q2 2020 Letter
- Silver Ring Value Partners utilizes a concentrated intrinsic value approach in seeking to safely compound capital over the long term.
- 07/14/2020
|
Long Beach (City of) CA -- Moody's rates Carnival's second lien debt Ba1; ratings placed on review for downgrade
- Moody's Investors Service, ("Moody's") assigned Carnival Corporation's planned second lien note issuance a Ba1 rating. At the same time, Moody's placed the long term ratings of Carnival Corporation (together with Carnival plc, "Carnival") on review for downgrade, including its Ba1 Corporate Family Rating, Ba1-PD Probability of Default rating, Baa3 senior secured rating, and Ba2 senior unsecured rating.
- 07/14/2020
|
DEADLINE ALERT for HBB, CLNY, CCL, WFC: Law Offices of Howard G. Smith Reminds Investors of Class Actions on Behalf of Shareholders
- BENSALEM, Pa., July 14, 2020 -- Law Offices of Howard G. Smith reminds investors that class action lawsuits have been filed on behalf of shareholders of the following.
- 07/14/2020
|
Carnival, Norwegian and Royal Caribbean cruise lines all downgraded
- Yahoo Finance's Ines Ferre shares how major cruise lines, including Carnival, Norwegian and Royal Caribbean, are performing after receiving a downgrade from SunTrust and MacQuarie.
- 07/14/2020
|
Macquarie Downgrades Cruise Stocks Amid Virus Resurgence, Dim Sailing Prospects
- The cruise stocks have been bouncing around a lot, up one day on perceived good news and the specter of getting back to business and then down the next due to gloomier prospects.
- 07/14/2020
|
Carnival Deadline Alert: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In Carnival Corporation & Plc To Contact The Firm
- New York, New York--(Newsfile Corp. - July 14, 2020) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Carnival Corporation ("Carnival" or the "Company") (NYSE:CCL) of the July 27, 2020 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. If you invested in Carnival stock or options between January 28, 2020 and May 1, 2020 and would ...
- 07/14/2020
|
Carnival Corporation & Plc (CCL) CEO Arnold Donald on Q2 2020 Results - Earnings Call Transcript
- Carnival Corporation & Plc (NYSE:CCL) Q2 2020 Earnings Conference Call July 10, 2020 10:00 A.M. ET Company Participants Arnold Donald - President and Chief Executive Officer David Bernstein - Chief Financial Officer and Chief Accounting Officer Conference Call Participants Steven Wieczynski - Stifel Nicolaus Capital Markets Robin Farley - UBS Jaime Katz - Morningstar, Inc.
- 07/14/2020
|
Carnival Cruise Lines Looks to Raise Another $1 Billion in Debt
- (Bloomberg) -- Cruise ship operator Carnival Corp. is back in the debt markets this week, adding around $1 billion to the nearly $7 billion it’s borrowed since the coronavirus pandemic devastated the international tourism trade.The world’s largest cruise group is selling bonds to international investors in both euros and U.S. dollars, according to people familiar with the matter who asked not to be identified because the information isn’t public yet.The deal will come at a price. Early discussions with potential investors have suggested yields of around 10.5% on the euro debt and 11% on the dollar portion, according to one of the people. But that’s marginally cheaper than the 11.9% yield on a bond offering in April, before a sustained recovery in credit markets.The once mighty international tourism industry is among the worst hit of the Covid-19 pandemic. Cruise operators such as Carnival have been left with the huge overheads that come with operating fleets of ships when revenues have collapsed. The firm said last week that it expects to burn through $650 million of cash every month through to the end of the year.Those costs have made the company a regular user of the international credit market as a source of funds since the pandemic took hold. Its latest offering comes less than a month after it raised $2.8 billion of loans in dollars and euros. It also sold $4 billion in bonds in April.The notes being marketed this week are secured against its ships but are junior ranking to the loans and bonds raised earlier this year, according to the people familiar with the matter. That means investors who buy the new debt will get paid after those that bought into the earlier offerings if the company runs into trouble.Read more: Carnival Nearly Doubles Loan Offering After Boosting YieldJPMorgan Chase & Co, Goldman Sachs Group Inc. and Deutsche Bank AG are leading the latest bond transaction.Carnival shares rose about 1% in pre-market U.S. trading on Tuesday. While still down 70% for the year, the stock has gained around 80% since Carnival completed its last bond sale.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.
- 07/14/2020
|
CCL ALERT: The Klein Law Firm Announces a Lead Plaintiff Deadline of July 27, 2020 in the Class Action Filed on Behalf of Carnival Corporation & Plc Limited Shareholders
- New York, New York--(Newsfile Corp. - July 14, 2020) - The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Carnival Corporation & Plc (NYSE: CCL) alleging that the Company violated federal securities laws.Class Period: September 26, 2019 and May 1, 2020Lead Plaintiff Deadline: July 27, 2020Learn more about your recoverable losses in DNK:http://www.kleinstocklaw.com/pslra-1/carnival-corporation-loss-submission-form?id=7942&from;=5The filed complaint alleges that Carnival Corporation & Plc made materially false ...
- 07/14/2020
|
Carnival Stock Sinks After Wedbush Slashes Price Target
- Carnival shares dipped over 5% Monday after Wedbush slashed its price target in the wake of increasing coronavirus cases.
- 07/14/2020
|
SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Carnival Corporation of Class Action Lawsuit and Upcoming Deadline - CCL
- Pomerantz LLP announces that a class action lawsuit has been filed against Carnival Corporation ("Carnival" or the "Company") (NYSE: CCL) and certain of its officers. The class action, filed in United States District Court for the Southern District of Florida, and docketed under 20-cv-22202, is on behalf of a class consisting of investors who purchased or otherwise, acquired Carnival common stock and securities between January 28, 2020, and May 1, 2020, inclusive ("the "Class Period"), seeking to pursue remedies against Carnival and certain of its officers under the Securities Exchange Act of 1934 (the "Exchange Act").
- 07/14/2020
|
Why Carnival, Royal Caribbean, and Norwegian Cruise Line Stocks Sank Today
- California's decision to reverse its reopening plans is an ominous sign for the beleaguered cruise industry.
- 07/13/2020
|
CCL; CUK Investor Update: Bronstein, Gewirtz & Grossman, LLC Reminds Investors of Class Action Against Carnival Corporation & Plc and Encourages Investors to Contact the Firm
- NEW YORK, NY / ACCESSWIRE / July 13, 2020 /Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Carnival Corporation & Plc ("Carnival" or "the Company") (CCL)(CUK) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Carnival securities between January 28, 2020 through May 1, 2020, inclusive (the ''Class Period'').Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/ccl. This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
- 07/13/2020
|
Do Carnival Stock Investors Know What They're Boarding?
- Even if the leading cruise line returns to peak 2019 form, it won't be anywhere close to that on a per-share basis.
- 07/13/2020
|
Carnival leads cruise stocks lower after Wedbush cuts price target amid resurgence in COVID cases
- Shares of Carnival Corp. dropped 1.8% in midday trading Monday, to buck the surge in the broader stock market, amid concerns over how the recent surge in COVID-19 cases will affect the timeline for restarting cruises in the U.S. Analyst James Hardiman at Wedbush cut his price target to $20 from $29 while reiterating his neutral rating, in the wake of the cruise operator's announcements last week that three of its AIDA Cruises will start resailing in August, and that cumulative advance bookings for 2021 remained within historical ranges, although at lower prices. "While a legitimate target for the restart of the AIDA brand is encouraging, we can't help but think that we remain a far distance away from operations resuming in the United States given a resurgence in COVID-19 cases as well as halted (in some instances reversed) economic reopenings," Hardiman wrote in a note to clients. Other cruise stocks were also falling Monday, with Royal Caribbean Cruises Ltd.'s down 0.9% and Norwegian Cruise Line Holdings Ltd.'s losing 1.7%. Over the past three months, Carnival's stock has rallied 38.1%, Royal shares have shot up 54.2% and Norwegian shares have soared 42.3%, while the S&P; 500 has gained 16.8%.
- 07/13/2020
|
CCL INVESTOR FILING DEADLINE: Bernstein Liebhard Reminds Investors that only 2 Weeks Remain until the Lead Plaintiff Motion Filing Deadline in a Securities Class Action Lawsuit Against Carnival Corporation
- NEW YORK, July 13, 2020 -- Bernstein Liebhard, a nationally acclaimed investor rights law firm, reminds investors of the deadline to file a lead plaintiff motion in a.
- 07/13/2020
|
BofA Cuts Carnival Target, With Slow Cruise Line Recovery Ahead
- While Carnival Corp's (NYSE: CCL) German cruise line AIDA Cruises will resume operations in August, the timing of the recovery remains uncertain, and the main Carnival Cruise Line has extended its operational pause in North America through September 30, according to BofA Securities. The Carnival Analyst: Geoffrey d'Halluin maintained a Neutral rating on Carnival and reduced the price target from 1,500 pence ($18.92) to 1,270 pence ($16.02).The Carnival Thesis: Although the extended suspension and slower recovery will impact Carnival's earnings in the near-term, the company has a strong liquidity position, and the cash burn rate means the company can fund its requirements for another full year with paused operations, d'Halluin said in a Monday note. (See his track record here.)Carnival rhas aised more than $10 billion since March through a series of financing transactions and has $8.8 billion of committed credit facilities to fund ship deliveries through 2023, the analyst said.He estimates the company's monthly cash burn rate for the second half of 2020 at around $650 million.Although Carnival continues to expect a net loss for the second half of 2020, the cruise line estimates that it could achieve cash flow breakeven by operating just 25 of its ships, according to BofA. CCL Price Action: Shares of Carnival were down 2.91% at $15.69 at the time of publication Monday.Related Links:65 Biggest Movers From FridayTravel Industry Earnings Preview: Preparing For A Big DropLatest Ratings for CCL DateFirmActionFromTo Jun 2020RedburnDowngradesBuyNeutral Jun 2020BerenbergDowngradesHoldSell Jun 2020Morgan StanleyReinstatesUnderweight View More Analyst Ratings for CCL View the Latest Analyst Ratings See more from Benzinga * Carnival Is Staying Afloat Through 2020, BofA Says After Cruise Line's Preliminary Q2 Report(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- 07/13/2020
|
Did Hedge Funds Make The Right Call On Carnival Corporation (CCL) ?
- At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (see why hell is coming). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each stock might be going. […]
- 07/13/2020
|
Carnival Could Emerge From the Pandemic Stronger, Stifel Says
- “We have been able to identify several enhancements borne out of the shutdown that strengthen our conviction in our Buy-rated recommendation on CCL shares,” Stifel says in a research note.
- 07/13/2020
|
Here's Why Carnival (CCL) Has Gained Despite Q2 Earnings Miss
- Carnival (CCL) provides business updates for the second quarter ended May 31, 2020. Notably, the company is witnessing improvement in bookings for 2021.
- 07/13/2020
|
SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Carnival Corporation & Plc of a Class Action Lawsuit and a Lead Plaintiff Deadline of July 27, 2020 - CCL
- New York, New York--(Newsfile Corp. - July 13, 2020) - The following statement is being issued by Levi & Korsinsky, LLP:To: All persons or entities who purchased or otherwise acquired securities of Carnival Corporation & Plc ("Carnival") (NYSE: CCL) between September 26, 2019 and May 1, 2020. You are hereby notified that a securities class action lawsuit has been commenced in the the United States District Court for the Southern District of Florida. To ...
- 07/13/2020
|
Carnival Spikes 11% On Demand Optimism; Analyst Warns Risk Remains
- Shares in Carnival Corp (CCL) spiked 11% in Friday’s trading after the cruise company reported its second quarter earnings results- and revealed better-than-expected demand levels for 2021.Specifically, Q2 Non-GAAP EPS of -$3.30 missed Street estimates by $1.54 while GAAP EPS of -$6.07 also fell short of consensus expectations by $4.47. However revenue of $740M beat by $2.19M, despite representing a drop of 85% from the same period last year.Due to COVID-19, CCL paused its guest cruise operations in mid-March but now says it expects to resume operations in a phased manner. For instance, AIDA previously announced it will resume guest cruise operations from ports in Germany beginning August 2020 with three of its ships.CCL also stated that it is reducing capacity by ship delivery deferrals and 13 expected ship dispositions. As previously announced, the company intends to accelerate the removal of ships in fiscal 2020 which were previously expected to be sold over the ensuing years.Carnival CEO Arnold Donald noted, “We have been transitioning the fleet into a prolonged pause and right sizing our shoreside operations. We have already reduced operating costs by over $7 billion on an annualized basis and reduced capital expenditures also by more than $5 billion over the next 18 months.”He added: “We have secured over $10 billion of additional liquidity to sustain another full year with additional flexibility remaining.”In addition, the company has $8.8 billion of committed export credit facilities that are available to fund ship deliveries originally planned through 2023.During the pause in guest operations, the monthly average cash burn rate for 2H is estimated to be $650 million. This includes $250 million of ongoing ship operating and administrative expenses, working capital changes, interest expense and committed capital expenditures and excludes scheduled debt maturities.The pause in guest operations is continuing to have material negative impacts on all aspects of the company’s business, says Carnival, which continues to expect a net loss on both a U.S. GAAP and adjusted basis for the second half of 2020.However, despite substantially reduced marketing and selling spend, the company continues to see demand from new bookings for 2021. For the most recent booking period, the first three weeks in June 2020, almost 60% of 2021 bookings were new bookings. The remaining 2021 booking volumes resulted from guests applying their future cruise credits (FCCs) to specific future cruises.“As of June 21, 2020, cumulative advanced bookings for the full year of 2021 capacity currently available for sale remain within historical ranges at prices that are down in the low to mid-single digits range, on a comparable basis, including the negative yield impact of (future cruise credits) and onboard credits applied,” the company said.Indeed, Carnival continues to expect any decline in the customer deposits balance in the second half of 2020, all of which is expected to occur in the third quarter, to be significantly less than the decline in the second quarter of 2020.Following the update, Deutsche Bank analyst Chris Woronka reiterated his Hold rating on CCL with a $13 price target (20% downside potential).“We certainly don’t dispute that the majority of headlines relevant to CCL… are decidedly positive on the surface, but we think this is a classic case of extrapolating news flow into future earnings potential with a perhaps unwarranted degree of optimism” the analyst warned investors.“And while we are believers in the pent up demand angle, the fact remains that CCL’s interest expense in 2023 is likely to be ~$850m greater than it was in 2019 and its share count about 11% higher” Woronka continued.Said differently, he estimates that CCL’s 2019 EPS would have been $2.88 (vs. the $4.40 reported) using anticipated 2023 interest expense and share count, all else (including EBITDA and D&A;) being equal.“With return of capital seemingly off the table for quite some time and a newly leveraged balance sheet that will still look to support additional ship purchases, we think multiples need to be reflective of the new reality” the analyst concluded.Overall, analysts share his cautious approach with a Hold consensus and $16.51 average price target (2% upside potential). Shares in CCL have so far plunged 68% year-to-date. (See Carnival stock analysis on TipRanks).Related News: Tesla’s Elon Musk Overtakes Buffett On Billionaires Rich List Gilat Strongly Rejects Comtech’s New Merger Complaint; Seeks Remedies Nio Jumps 12% In Pre-Market On Record Quarterly Car Deliveries More recent articles from Smarter Analyst: * Tesla’s Elon Musk Overtakes Buffett On Billionaires Rich List * Gilat Strongly Rejects Comtech’s New Merger Complaint; Seeks Remedies * BeiGene Plans $2B Direct Offering; Analyst Sees Further Upside Ahead * Apple Moving Some Foxconn Manufacturing From China to India- Report
- 07/13/2020
|
Could Royal Caribbean Be a Millionaire-Maker Stock?
- Cruise-line stocks are rocky these days, but the one standout at sea could also be the one standout in your portfolio.
- 07/11/2020
|
Carnival Deadline Alert: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In Carnival Corporation & Plc To Contact The Firm
- New York, New York--(Newsfile Corp. - July 10, 2020) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Carnival Corporation ("Carnival" or the "Company") (NYSE:CCL) of the July 27, 2020 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. If you invested in Carnival stock or options between January 28, 2020 and May 1, 2020 and ...
- 07/11/2020
|
Carnival Corp & plc (CCL) Q2 2020 Earnings Call Transcript
- CCL earnings call for the period ending May 31, 2020.
- 07/10/2020
|
Why Carnival (CCL) Spiked 10.8% on Friday
- Shares of cruise operator Carnival Corp. (CCL) spiked Friday trading after the company provided investors with a business update.
- 07/10/2020
|
Stock Market Soars Into the Weekend as Carnival Sees Strong Cruise Demand, United Inks Pilot Deal
- The Dow Jones Industrial Average (DJINDICES: ^DJI) saw the biggest gains on a percentage basis, but the S&P; 500 (SNPINDEX: ^GSPC) also climbed more than 1%, and the Nasdaq Composite set a new record high. Carnival (NYSE: CCL) had good news for those following the beleaguered cruise ship industry. Elsewhere in travel, airline giant United Airlines Holdings (NASDAQ: UAL) also achieved an important milestone in its efforts to cut costs and reduce the rate at which it's burning through available capital.
- 07/10/2020
|
Dow adds nearly 400 points, Nasdaq sets another record, and stocks notch weekly gains
- U.S. stocks ended higher Friday, with support attributed in part to optimism over a coronavirus treatment as investors attempt to gauge the threat to the economic outlook from a rise in COVID-19 cases. The Dow Jones Industrial Average (DJIA) rose 369.21 points, or 1.4%, to close at 26,075.30. On Thursday, the Dow fell 361.19 points, or 1.4%, to end at 25,706.09; the S&P; 500 index lost 17.89 points, or 0.6%, to end at 3,152.05; and the tech-heavy Nasdaq Composite Index closed up 55.25 points, or 0.5%, at 10,547.75, marking its third record in a row and its 27th of 2020.
- 07/10/2020
|
Wait for a Pullback Before Buying Royal Caribbean Stock
- Royal Caribbean (NYSE:RCL) stock may have doubled off its lows, but that doesn't mean it's smooth sailing to recovery. As seen from the cruise operator's shares pulling back 28% in the past month, investors are assessing what's next.Source: Laszlo Halasi / Shutterstock.com On one hand, cruise ships sailing out of the U.S. remain mothballed until at least Sept. 15. With additional months of cash burn ahead, Royal Caribbean isn't out of the woods just yet.On the other hand, RCL stock may actually be the strongest cruise-line play out there. You would think that the largest player in the space, Carnival (NYSE:CCL), would take this title. Yet, other factors may give this operator greater odds of a rapid comeback.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThat alone may not be enough reason to buy shares today, as they hang around $50 per share. With investors chomping at the bit to bet on a recovery, shares have moved up too fast, too soon. Even after cooling down from their early June prices (around $75 per share). * The 7 Best Stocks to Invest in Right Now Like what we've seen with airline stocks, it's hard to guess how quickly cruise lines will fare as the novel coronavirus enters the rearview mirror. But, while there is opportunity for shares to bounce back to pre-pandemic levels (above $100 per share), it may be worthwhile to wait for another pullback before entering a position. What Lies Ahead for RCL StockThe factors that will drive a rapid rebound for Royal Caribbean are largely out of its control, though the company is doing what it can to improve the situation.How so? Putting together a panel of experts, the company and its smaller rival, Norwegian Cruise Line Holdings (NYSE:NCLH), are fine-tuning their safety protocols so that travelers can have piece of mind before setting sail again. Even as the pandemic doesn't appear to be slowing down in the U.S.Granted, this alone won't ensure demand returns when the time comes to resume operations. But, investors may see it as a sign that the industry is fast adapting to the "new normal." By putting together a plan of action, they can get themselves back on the road to profitability.Or can they? With the high fixed-costs of operating cruises, safety measures like reduced capacity may make profitability a challenge. This is assuming operations can resume come September. What happens if the industry again voluntarily delays reopening?The risk of even more potential cash burn may mean today's share price doesn't reflect all risks. Yet, for those looking to wager on a cruise-line comeback, this may be your best option. Which Cruise Line Stock Is the Better Buy?With multiple cruise-line stocks out there, investors have many options to bet on a comeback. But which one offers the best risk/return proposition?Forget about valuation metrics. With operations idle, earnings multiples don't mean much in today's environment. Liquidity is the more important metric. Choosing a cruise-line play hinges a lot on finding the one that can ride out the choppy waters the longest.As InvestorPlace's Chris Tyler wrote July 6, Royal Caribbean has likely raised enough funds to stay afloat well into 2021. This is in line with the liquidity situation over at its largest rival, Carnival.That operator has $7.6 billion in liquidity, and is burning through around $650 million per month. This implies they can operate another 11.7 months without any money coming into its coffers.Both look matched in terms of liquidity. What other metrics can we consider? Carnival has much larger market share. One could assume this size and scale would give them the edge.Yet, that may not be the case. As this Motley Fool commentator recently noted, Royal Caribbean's target market is experienced cruise travelers. Pent-up demand from cruise aficionados may help them quickly rebound once ships set sail again.Are first time customers Carnival's bread and butter? Not so much. In short, this cruise line operator may have a better shot of "returning to normal" sooner than its larger peer. Wait For a Pullback Before Buying RCL StockSo, what's the verdict with Royal Caribbean? Things may be stuck in neutral right now. The industry is taking action to ensure its cruise ships are safe post-pandemic, but it remains to be seen when ships can set sail again.With this in mind, buying today, as so much uncertainty continues to linger, doesn't look like a shrewd move. A lot of the rebound upside remains priced into shares.But, on an additional pullback, RCL stock may be a worthwhile bottom-fisher's buy. Consider shares if they dip lower from here.Thomas Niel, contributor to InvestorPlace, has written single-stock analysis since 2016. As of this writing, Thomas Niel did not hold a position in any of the aforementioned securities. More From InvestorPlace * Why Everyone Is Investing in 5G All WRONG * America's 1 Stock Picker Reveals His Next 1,000% Winner * Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company * Radical New Battery Could Dismantle Oil Markets The post Wait for a Pullback Before Buying Royal Caribbean Stock appeared first on InvestorPlace.
- 07/10/2020
|
Carnival Expects to Drop 13 Ships, 9% of Capacity
- In a business update today, Carnival Corporation (NYSE: CCL) offered both good news and bad news. Carnival said it expects "future capacity to be moderated by the phased reentry of its ships, the removal of capacity from its fleet and delays in new ship deliveries." Including a previously announced sale, the company said a total of 13 ships, or 9% of its current capacity, will be sold within 90 days.
- 07/10/2020
|
Friday Morning Market Highlights
- Markets mixed, PriceSmart jumps on earnings Continue reading...
- 07/10/2020
|
ROSEN, A GLOBALLY RECOGNIZED FIRM, Encourages Carnival Corporation & Plc Investors TO CONTACT FIRM BEFORE Important July 27 Deadline in Securities Class Action - CCL, CUK
- NEW YORK, NY / ACCESSWIRE / July 10, 2020 / Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Carnival Corporation & Plc (NYSE:CCL, CUK) between September 26, 2019 ...
- 07/10/2020
|
Why Carnival Corporation, Royal Caribbean, and Norwegian Cruise Line Stocks All Popped Today
- A raft of good news couldn't keep cruise line stocks afloat amid a falling stock market on Thursday -- but Friday is dawning a bit brighter for cruise ship stocks. Royal Caribbean (NYSE: RCL) was up an even better 5.9%, while industry giant Carnival Corporation (NYSE: CCL) (NYSE: CUK) was up a whopping 8.8%. Carnival Corporation probably deserves the lion's share of the credit for today's rally.
- 07/10/2020
|
Carnival Corporation Updates Investors on Cash Reserves...and Cash Burn Rate, Too
- It's been nearly a month since Carnival Corporation (NYSE: CCL) shocked the stock market by revealing it was burning through its cash reserves at a faster-than-expected $650 million a month. It's been nearly a month since the company laid down a marker and promised to cut that burn rate to $250 million monthly, the better to help it ride out the recession. In an 8-K filing with the SEC this morning, Carnival updated investors on the state of its business as it crosses the midyear mark.
- 07/10/2020
|
Carnival Says Italian Cruises Could Be Next in Return to Sailing
- (Bloomberg) -- Carnival Corp., which plans to begin cruising again next month from German ports, said Italy could be next as it looks to restart its business following the coronavirus shutdown.Chief Executive Officer Arnold Donald said the company’s ships will start with less than half their usual levels of passengers as they implement precautions for social distancing. The response to new cruises has been strong, he said, with 1,000 bookings coming in for the company’s German brand, AIDA, immediately after it reopened. Many of the bookings came from first-time cruisers.“We expect demand to be more than adequate to fill ships in a staggered restart,” Donald said on a conference call with investors Friday. “There’s a lot of pent-up demand.”Carnival shares rose as much as 12% in New York trading Friday and were up 8.6% to $15.83 at 11:50 a.m. The stock has suffered along with the rest of the cruise business, falling 71% this year through Thursday.The industry halted sailing around the world in March as Covid-19 spread rapidly. Carnival and other lines had to hustle to return passengers and crew while raising money to blunt the financial impact of the shutdown.The company plans to shed 13 ships and is pushing back deliveries of new ones. Donald said it would be 2022 at the earliest before the company returns to its prior level of passenger capacity. Bookings for 2021 are coming in at prices that are a low- to mid-single-digit percentage below those of earlier periods.Burning CashThe Miami-based company reported a loss of $4.3 billion on sales of $740 million for the quarter that ended in May. The company’s cash burn, with none of its ships sailing, is $650 million a month.Carnival returned 260,000 passengers and 77,000 crew to land amid the crisis. About 3,000 crew members are still at sea.The company holds some $2.6 billion in customer deposits, most of them credits consumers can use for future bookings.Donald said Carnival had “less than our market share of incidents” of the virus on board but received a “disproportionate amount of media attention,” given its size as the industry leader.It’s mounting a public conference on the virus featuring scientists on July 28.The executive said its brands aren’t seeing the same negative perceptions among consumers as they did back in 2012, when Carnival ships experienced high-profile accidents including a fatal crash in Italy and an engine fire in the Gulf of Mexico. “None of the brands have gone to the low levels we experienced at that time,” Donald said.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.
- 07/10/2020
|
US STOCKS-Wall St mixed as COVID-19 case tally hits another record
- "Investors are paying more attention to new case discovery than they are to the economic data and that is a pattern we've seen develop over the last two weeks," said Art Hogan, chief market strategist at National Securities in New York. A slate of economic data, including a record monthly payrolls addition, has pointed to a revival in business activity in June, fueling the U.S. stock market's stimulus-driven rally. Technology stocks weighed the most on the three main indexes, a day after they powered the Nasdaq to its third closing high this week.
- 07/10/2020
|
CCL INVESTOR FILING DEADLINE: Bernstein Liebhard Reminds Investors of the Lead Plaintiff Motion Filing Deadline in a Securities Class Action Lawsuit Filed Against Carnival Corporation
- Bernstein Liebhard, a nationally acclaimed investor rights law firm, reminds investors of the deadline to file a lead plaintiff motion in a securities class action has been filed on behalf of investors that purchased or acquired the securities of Carnival Corporation ("Carnival" or the "Company") (NYSE:CCL) between January 28, 2020 and May 1, 2020 (the "Class Period"). The lawsuit filed in the United States District Court for the Southern District of Florida alleges violations of the Securities Exchange Act of 1934.
- 07/10/2020
|
Carnival provides business update, reiterating bookings demand and cash burn outlook
- Shares of Carnival Corp. slumped 1% in morning trading Friday, after the cruise operator provided a business update, reiterating that it continues to see demand from new bookings next year. Cumulative advance bookings for 2021 capacity as of June 21 remained within historical ranges, although at prices that were down in the low to mid-single digit percentage ranges. The company said almost 60% of 2021 bookings were new bookings. Separately, the company reiterated that the monthly average cash burn rate for the second half of 2020 is estimates at about $650 million. Carnival said it continues to remove capacity, as it sold one ship in June, has agreements to dispose of 5 ships, and has preliminary agreements for the disposal of an additional 3 ships, within the next 90 days. In total, Carnival expects 13 ships, or about 9% of current capacity, to leave the fleet. The stock has tumbled 71.6% year to date, while the S&P; 500 has slipped 2.4%.
- 07/10/2020
|
Carnival expects to resume voyages in phases
- Carnival Corp said on Friday it was planning to resume operations in a phased manner, months after suspending trips due to the COVID-19 pandemic. Carnival expects future capacity to be moderated by the phased re-entry of its ships, while some ships in its fleet could be removed and new deliveries would be delayed, it said. On Thursday, Carnival said it would resume voyages run by its German cruise line AIDA.
- 07/10/2020
|
Carnival Corporation & plc Provides A Business Update And Additional Financial Information For The Second Quarter
- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) provides a business update and additional financial information for the second quarter ended May 31, 2020.
- 07/10/2020
|
Carnival’s Fortunes Are Pinned to the Recovery, Not the Virus
- The good news for Carnival (NYSE:CCL) is that the company's stock is 80% higher since bottoming out at just under $8 in March. However, the bad news for CCL stock is that it's still down over 70% since the first of the year.Source: Ruth Peterkin / Shutterstock.com For most of the last three months, the narrative surrounding Carnival was one of cautious optimism. The industry was being hit with the perfect storm. But the conventional wisdom said as quickly as they lost revenue, they could get it back. This was based on the "V-shaped" recovery model.However just like predicting the weather, this economic recovery is proving to be, at best, an educated guess. And as hopes for a V-shaped recovery evaporate, it's making CCL stock look a lot less attractive.InvestorPlace - Stock Market News, Stock Advice & Trading Tips CCL Stock Was Dropping Before the PandemicWhen a ship in your fleet goes under quarantine in a foreign country, things aren't going to go well for your company's stock. But that isn't telling the whole story. Carnival's stock has been in a downtrend since the beginning of 2018. Shares had dropped nearly 30% in the two years ending in December of last year. * The 7 Best Stocks to Invest in Right Now So, while the novel coronavirus did Carnival no favors, there was something going on prior to the pandemic. For its part, Carnival removed any economic guidance in its last earnings report. While that's prudent, it adds another layer of uncertainty to CCL stock.And that's why it may not be enough to simply hope that the cruise line can just hang on until customers return. Especially when it seems like the economy may be weaker than we know. It's the Economy, StupidYes, I'm resurrecting the famous (or infamous) battle cry of the 1992 Presidential election. But it's an election year, so it seems fitting. Because the problem for Carnival at the moment is that the economy is not recovering as fast as was hoped. And that means you may be seeing the "open for work" graphic overlaid on the picture of your LinkedIn contacts.On May 27, Boeing (NYSE:BA) announced it was laying off 7,000 workers. That same day, Chevron (NYSE:CVX) announced it would cut 10% to 15% of its workforce. But those were expected, right? Airlines and energy companies were always going to be the slowest to come back.But just this week, layoffs were announced at Levi Strauss (NYSE:LEVI) and Whirlpool (NYSE:WHR). In the case of Levi's, the company was cutting approximately 700 jobs which would total about 15% of its global corporate workforce. Whirlpool did not specify the exact number of jobs it was cutting but said it would result in $95 million in severance and other employee-related costs.Okay, enough of the gloom and doom. The fact is, unlike hourly workers, many of these employees will receive a severance package. But that's my point. These workers won't show up in the count of employees who are filing for unemployment claims. Yet they will still have an impact on the economy.Families that are facing an uncertain future will pull back on spending. That means even if a vaccine is coming faster than expected, these customers are not likely to book a cruise. And they're also likely to cancel one that they may previously have rescheduled. And Speaking of a Vaccine…Shares of CCL stock are bobbing up and down on every morsel of news. Larry Ramer made a case that a vaccine that arrives later this year may be a catalyst for the stock. David Moadel also expressed cautious optimism for similar reasons.The country needs a vaccine. But I suspect even if a vaccine was available tomorrow, it wouldn't influence people who want to see the worst. We are living in a time when many people are stuck in a narrative of their own choosing. And that's a shame because the book gets a lot more interesting when the mind is open to different thoughts.But that's where we are. And that means a bet on CCL stock is a bet on a vaccine by the end of the year and a robust economic recovery. Getting one out of two will feel like a victory. Ask Me Again in NovemberJust as the country needs a vaccine, it also needs to see this election cycle end. And the sad part is it hasn't even really begun. But election years always create uncertainty and this year is particularly the case (but we seem to say that every four years).However, until we know who is going to occupy the White House for the next four years, it's tough to gauge what the economy will look like. And that's why I think it's best to pass on Carnival at this time.Chris Markoch is a freelance financial copywriter who has been covering the market for over five years. He has been writing for InvestorPlace since 2019. As of this writing, Chris Markoch did not hold a position in any of the aforementioned securities. More From InvestorPlace * Why Everyone Is Investing in 5G All WRONG * America's 1 Stock Picker Reveals His Next 1,000% Winner * Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company * Radical New Battery Could Dismantle Oil Markets The post Carnivala€™s Fortunes Are Pinned to the Recovery, Not the Virus appeared first on InvestorPlace.
- 07/10/2020
|
These ‘epicenter’ stocks could surge higher, says analyst who called March bottom
- Surging tech stocks are hiding the opportunity in some beaten-down names, says Fundstrat's Tom Lee.
- 07/10/2020
|
Carnival's AIDA Cruises Set to Sail Again, Bookings Begin
- Carnival's (CCL) AIDA Cruises will restart sailing starting August in compliance with hygiene standards and preventive measures to tackle the COVID-19 pandemic.
- 07/10/2020
|
U.S. Daily Cases Top 60,000; Record Texas Deaths: Virus Update
- (Bloomberg) -- New U.S. virus cases topped 60,000 in a day for the first time. Texas, California and Florida all reported a record number of deaths, while Arizona added 4,057 new cases, the most in six days.Fewer Americans than forecast have applied for unemployment benefits, easing concerns of a renewed downturn as an acceleration in new cases in the U.S. and Mexico pushed the global total past 12 million. Still, Wells Fargo & Co., the largest employer among U.S. banks, is preparing to cut thousands of jobs starting this year.In New York, there were 95% fewer outdoor diners at the city’s restaurants than a year ago and public transport has stalled at about half pre-pandemic levels. Mayor Bill De Blasio said large public events such as street fairs are canceled through September.Key Developments:Global Tracker: Cases top 12 million; deaths top 551,000Why the way we live now will mean more pandemics: QuickTakeCovid-19 bankrupting American companies at a relentless paceVirus ravaging historic prison spirals into public-health crisisTrump’s school-opening demand dumps new decisions on statesVirus-related emissions drop still ‘no cause for cheer’Pregnant and stuck on a ship in the middle of the pandemicDoctors push back as pandemic strains Africa’s creaking systemsSubscribe 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.Texas Has Record Deaths for Third Day (5:08 p.m. NY)Texas reported a record number of deaths for the third straight day, topping 100 for the first time. Total fatalities rose 3.7%, to 2,918. The sharp increase in deaths this week follows a similar upturn in cases about three weeks ago.The state has identified about 10,000 new cases for the past three days, bringing the total to 230,346. The 9,782 added Thursday was a 4.4% increase, exceeding the seven-day average of 4%.New cases are eating up capacity for beds in intensive care units in Houston, which has the state’s worst outbreak. The city’s Texas Medical Center hospitals filled up all the ICU beds generally available last week, and has begun tapping converted beds.New York Mayor Cancels Big Public Events (4:40 p.m. NY)Mayor Bill De Blasio ordered large events that typically require a permit to be canceled through Sept. 30. The goal is to ensure room for outdoor restaurant seating and New York’s “Open Streets” program, which expands car-free public spaces for city dwellers. “Permits will also be denied for all events larger than one block, stage/video events that require amplification, street fairs, and events in parks that may unreasonably diminish public use,” the mayor said in a statement. Demonstrations, religious events and news conferences are exempt. Texas Republicans Sue to Hold Convention (4:08 p.m. NY)The Texas Republican Party sued the Democratic mayor of Houston for ordering the cancellation of next week’s state GOP convention in the city, which is the epicenter of the state’s outbreak.Mayor Sylvester Turner on Wednesday barred the in-person gathering that was expected to draw 6,000 people for fear it would contribute to the spread of the virus in the city.U.S. Cases Rise 2%, Top 60,000 (4 p.m. NY)Coronavirus cases in the U.S. rose by 61,791 from a day earlier to 3.08 million, according to data collected by Johns Hopkins University and Bloomberg News.It was the first time the number of reported new cases exceeded the 60,000-a-day mark. The 2% increase was higher than the average daily increase of 1.9% over the past week. Deaths rose 0.7% to 132,803.Arizona reported 4,057 new virus cases, a 3.7% rise to 112,671 that matched the prior seven-day average. It was the highest number of new cases in six days.Florida reported 232,718 cases, up 4% from a day earlier, compared with an average increase of 5% in the previous seven days. The state recorded 120 deaths, a daily record.Montana cases rose 6.9% to 1,466, according to the data from Johns Hopkins and Bloomberg News.Record Daily Deaths in California (3:39 a.m. NY)California reported 149 virus deaths, its largest one-day total. The data include some delayed reports from counties from prior days, Governor Gavin Newsom said at a press briefing. Still, the daily count was well above the prior record of 115, set in April, as well as the seven-day average of 73.The state had 7,031 new virus cases, less than the seven-day average of 8,043. The rate of positive tests over the past 14 days is 7.3%, up from 7.1% yesterday.Dartmouth Cuts Five Sports Programs (2:50 p.m. NY time)Dartmouth College is eliminating five varsity teams — men’s and women’s swimming and diving, men’s and women’s golf, and men’s lightweight rowing — to ease a budget deficit worsened by the virus. The Ivy League school in New Hampshire also will permanently close its Hanover Country Club, located at the college-owned golf course. Stanford University, one of the richest U.S. colleges, is cutting 11 varsity sports teams at the end of the 2020-21 academic year. Brown University trimmed its athletic programs in May.Miami-Dade Hospital, ICU Cases at Record (12:46 p.m. NY)Miami-Dade County, Florida’s most populous, again reported the highest numbers of virus patients in intensive care and hospitals generally since at least early April. Miami-Dade has 1,688 people in hospitals, up 32 from a day earlier. The number of patients in intensive-care beds rose to 358 from 343.Covid-19 patients on ventilators jumped to 184 from 175 a day earlier and was at the highest since April 20, according to the county’s daily report on Wednesday, based on self-reporting by hospitals.Starbucks Requires Masks at U.S. Stores (12:35 p.m. NY)Starbucks Corp. is requiring customers to wear face coverings when visiting all of its company-owned U.S. locations, whether mandated by local governments or not. At select locations where there’s no official requirement, customers without masks can use options such as drive-through, curbside pickup or ordering for delivery, the Seattle-based company said in a statement.England Lets Recreational Sports Resume (12 p.m. NY)Recreational team sports are resuming in England, starting with cricket on Saturday, the same day that outdoor swimming pools can reopen. Beauticians, salons and spas can reopen Monday, followed by gyms and indoor pools on July 25, according to U.K. government announcements. British pubs, bars and restaurants reopened last weekend in the face of an economic collapse that wiped out 18 years of growth in two months.Arizona Sees Most New Cases in Six Days (11:33 a.m. NY)Arizona reported 4,057 new virus cases, a 3.7% rise to 112,671 that matched the prior seven-day average. It was the highest number of new cases in six days. The Department of Health Services also reported 75 new Covid-19 deaths, bringing the statewide toll to 2,038.Hospital Stocks Fall on Spikes (11:20 a.m. NY)Hospital stocks fell to the lowest in eight weeks as the case surge in Florida and Texas puts pressure on the industry. HCA Healthcare Inc. is suspending some elective surgeries in both states to free up capacity for Covid-19 patients. Bloomberg Intelligence’s North America Hospitals Valuation Peer Group fell as much as 5.4% on Thursday to the lowest since May 14. Tenet Healthcare Corp. declined the most.Florida Reports Record Deaths, Hospitalizations (10:47 a.m. NY)The state recorded 120 deaths among residents, a daily record. Cumulatively, deaths among Florida residents climbed by 3.1% to 4,009, according to the report by health officials, which includes data through Wednesday.Florida reported 232,718 Covid-19 cases, up 4% from a day earlier, compared with an average increase of 5% in the previous seven days. Cumulative hospitalizations of Florida residents rose by 2.4, or a record 409, to 17,167.NY Dining, Public Transport Stalled (10:24 a.m. NY)The number of outdoor diners seated at New York restaurants was 95% lower than a year ago and public transportation in the past week remained at about half the pre-pandemic level. This comes as the state’s infection rates have dropped to about 1% of daily testing, down from a peak of about 50% in late March.New York City has delayed the return of indoor dining to guard against an increase in virus cases that has plagued states such as Florida, Texas and California.Moderna in Vaccine Supply Pact (10:04 a.m. NY)Moderna Inc. joined with Laboratorios Farmaceuticos Rovi SA to help supply its Covid-19 shot, one of the leading vaccine candidates against the disease, as companies prepare to produce any successful inoculation as soon as possible.The Spanish pharmaceutical company will provide vial filling and packaging capacity to Moderna, according to a statement Thursday, as Moderna prepares to produce hundreds of millions of doses of the vaccine for markets outside the U.S. starting in early 2021.Wells Fargo Readying Job Cuts (9:40 a.m. NY)Wells Fargo & Co., the largest employer among U.S. banks, is preparing to cut thousands of jobs starting later this year, potentially setting a precedent for an industry that’s been resisting mass layoffs as the pandemic worsens.Pressure to dramatically reduce costs is coming to a head inside the bank, prompting executives to draft plans that may ultimately eliminate tens of thousands of positions, people with knowledge of the confidential talks said, asking not to be named.U.K. Job Losses Mount (9:40 a.m. NY)U.K. job losses due to the coronavirus pandemic accelerated with retailers Walgreen Boots Alliance Inc. and John Lewis joining Rolls-Royce Holdings Plc in detailing plans to cut more than 8,000 workers.The owner of the Boots pharmacy chain said it plans to eliminate 4,000 positions and trim headcount in its U.K. support office by an additional 20%, citing a “dramatic reduction” in people visiting the company’s stores in the country.
- 07/09/2020
|
The Dow Is Dropping Because Coronavirus Just Won’t Quit
- The market had been holding its own in early Thursday trading. Then Florida released its coronavirus numbers.
- 07/09/2020
|
Why Carnival, Royal Caribbean, and Norwegian Cruise Line Stocks All Dropped Today
- Cruise line stocks are dropping across the board in Thursday-afternoon trading -- and that just isn't fair. As of 12:35 p.m. EDT, shares of Royal Caribbean (NYSE: RCL) have tumbled 5.2%, Norwegian Cruise Line Holdings (NYSE: NCLH) is down 4.2%, and even industry giant Carnival (NYSE: CCL) (NYSE: CUK) is slipping 2.5%.
- 07/09/2020
|
Investors want to be involved in airlines 'longer term': Strategist
- TD Ameritrade Chief Market Strategist JJ Kinahan joins the On the Move panel to discuss the latest stocks to watch as COVID-19 fears escalate.
- 07/09/2020
|
Carnival’s German Cruise Line To Resume Sailing Operations In August
- Carnival Corp’s (CCL) German cruise line AIDA Cruises announced it will resume sailing operations in August this year.After AIDA Cruises was forced to pause its operations in mid-March due to the coronavirus pandemic outbreak, three of its ships will restart sailing next month. AIDAperla will be the first to set sail on August 5 from Hamburg, followed by AIDAmar from Rostock-Warnemünde on August 12 and AIDAblu from Kiel on August 16. Bookings for the first short cruises start from today.The German-based cruise line said it will implement health and safety measures including digital health questionnaire prior to the cruise, temperature measurements before check-in for guests and crew, and physical distancing guidelines and routing systems on arrival and departure. It will also closely manage capacities at venues such as restaurants, bars, theatres, sports and wellness areas. The ships will also be equipped with test-kits and diagnostic devices for the immediate evaluation of suspected COVID-19 cases.Carnival shares dropped 3.4% to $14.80 in midday U.S. trading. The stock has this year shed 70% of its value following major coronavirus outbreaks on a number of cruise ships, including its Diamond Princess.Despite the uncertain outlook for the cruise and travel industry, five-star analyst Ivan Feinseth at Tigress Financial reiterated a Buy rating on the shares as he believes that Carnival will overcome COVID-19 pandemic headwinds, and the pullback in the stock creates a long-term buying opportunity.“While the near-term uncertainty remains, including when CCL will be able to resume sailings, its strong brands, strong leadership, and its industry-leading fleet of ships are still driving strong booking trends,” Feinseth wrote in a note to investors. “Recent capital markets transactions, along with ongoing capital preservation efforts, give CCL more than enough liquidity to overcome the pandemic-led business disruption.”In the best-case scenario, the analyst expects sailings to resume in early Q4 2020 and in the worst-case in early Q1 2021.The rest of the Street is sidelined on the stock. The Hold analyst consensus shows 12 Hold ratings and 4 Sell ratings versus 4 Buy ratings. The $16.51 average price target implies 12% upside potential over the coming year. (See CCL’s stock analysis on TipRanks).Related News: Airbus First-Half Deliveries Drop 49% Amid Covid-19 Aviation Crisis Carnival Posts $4.4B Quarterly Loss Sending Shares Down 7% In Pre-Market Carnival’s Credit Rating Cut To Junk Status At S&P; On Weak Demand Prospect More recent articles from Smarter Analyst: * Google Cloud Forges Multi-Year Deal With Renault * Bed Bath Drops 9% In Pre-Market As Sales Sink 49%; Merrill Lynch Raises PT * Apple Reassures On Intel’s Thunderbolt Despite Chip Departure * Costco June Sales Beat Estimates As Shoppers Go Online; Top Analyst Raises PT
- 07/09/2020
|
This Norwegian Cruise Line Stock Sale Is Bad News
- Two months after buying some exchangeable debt, a Norwegian Cruise Line investor looks to score a near-term payday.
- 07/09/2020
|
Carnival Corporation Names Antorcha to Lead Holland America Line; Palomba as COO for Carnival Cruise Line
- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) today announced two important moves within its global leadership team as part of the company's broader efforts to enhance operations and best prepare the organization for the eventual resumption of cruising.
- 07/09/2020
|
Carnival's AIDA Cruises to set sail in August after long hiatus
- Carnival Corp's AIDA Cruises said on Thursday it would resume sailing operations in August, months after cruise operators were forced to pause voyages due to the COVID-19 pandemic. The Germany-based cruise line said it has introduced a variety of coronavirus preventive measures to complement existing health and hygiene standards, as it restarts operations. Cruise operators have suspended most of their operations since March as the rapid spread of the coronavirus outbreak has forced several countries to mandate lockdowns and travel restrictions.
- 07/09/2020
|
US STOCKS-Record job growth powers Wall St, Nasdaq hits all-time high
- Wall Street opened higher on Thursday, with the Nasdaq hitting an all-time high as data showed the U.S. economy added jobs at a record pace in June, the latest signal of a rebound in business activity following the easing of coronavirus-led lockdowns. Nonfarm payrolls rose by 4.8 million jobs in June, the Labor Department's closely watched monthly employment data showed, the most since the government began keeping records in 1939, although a recent surge in COVID-19 cases has threatened the fledgling recovery.
- 07/02/2020
|
US STOCKS-Wall St set to open higher as job growth picks up pace in June
- Wall Street was set to open higher on Thursday as data showed the U.S. economy added jobs at a record pace in June, the latest signal of a rebound in business activity following the easing of coronavirus-led lockdowns. Nonfarm payrolls rose by 4.8 million jobs in June, the Labor Department's closely watched monthly employment data showed, the most since the government began keeping records in 1939, although a recent surge in COVID-19 cases has threatened the fledgling recovery. Optimism about a post-pandemic rebound in business activity, aggressive U.S. stimulus and hopes of a COVID-19 vaccine have fueled a Wall Street rally since April, with the Nasdaq notching up its sixth record closing high since early June on Wednesday.
- 07/02/2020
|
US STOCKS-Futures rise ahead of June jobs report
|
Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Hamilton Beach Brands, Colony Capital, Sorrento Therapeutics, and Carnival Corporation and Encourages Investors to Contact the Firm
- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Hamilton Beach Brands Holding Company (HBB), Colony Capital, Inc. (CLNY), Sorrento Therapeutics, Inc. (SRNE), and Carnival Corporation & Plc (NYSE: CCL, CUK). On May 11, 2020, Hamilton announced that it could not timely file its 1Q20 10-Q because of “certain accounting irregularities with respect to the timing of recognition of selling and marketing expenses and the classification of certain expenditures within the statement of operations at its Mexican subsidiary.”
- 07/01/2020
|
ROSEN, A NATIONALLY RECOGNIZED FIRM, Encourages Carnival Corporation & Plc Investors to CONTACT FIRM BEFORE Important July 27 Deadline in Securities Class Action SEEKING RECOVERY OF LOSSES - CCL, CUK
- NEW YORK, NY / ACCESSWIRE / July 1, 2020 / Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Carnival Corporation & Plc (NYSE:CCL;CUK) between September 26, 2019 ...
- 07/01/2020
|
CCL; CUK Investor Alert: Bronstein, Gewirtz & Grossman, LLC Reminds Investors of Class Action Against Carnival Corporation & Plc and Encourages Investors to Contact the Firm
- NEW YORK, NY / ACCESSWIRE / July 1, 2020 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Carnival Corporation & Plc ("Carnival" or "the ...
- 07/01/2020
|
US STOCKS-S&P, Nasdaq higher on vaccine hopes, improving economic data
- The S&P; 500 and Nasdaq rose on Wednesday as rising hopes of a COVID-19 vaccine offset fears of another round of lockdowns following a record surge in coronavirus cases in the United States. A COVID-19 vaccine developed by Pfizer Inc and German biotech firm BioNTech showed promise and was found to be well tolerated in early-stage human trial, the companies said.
- 07/01/2020
|
US STOCKS-Wall Street gains on vaccine hopes, improving economic data
- Wall Street opened higher on Wednesday as rising hopes of a COVID-19 vaccine reversed premarket losses, overshadowing fears of another round of lockdowns following a record surge in coronavirus cases in the United States. A COVID-19 vaccine developed by Pfizer Inc and German biotech firm BioNTech showed promise and was found to be well tolerated in early-stage human trials. Pfizer's shares jumped 4.1% on the news, while BioNTech gained 3%, helping improve the mood on Wall Street after the United States registered 47,000 new coronavirus cases on Tuesday, the biggest one-day spike since the start of the pandemic.
- 07/01/2020
|
‘We're seeing reservations start to come back, particularly in air’: AAA Northeast
- AAA Northeast’s Robert Sinclair joins The First trade to discuss the difficulties surrounding the summer travel businesses and what these businesses have done to adapt.
- 07/01/2020
|
Carnival Deadline Alert: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In Carnival Corporation & Plc To Contact The Firm
- New York, New York--(Newsfile Corp. - July 1, 2020) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Carnival Corporation ("Carnival" or the "Company") (NYSE: CCL) of the July 27, 2020 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi LogoIf you invested in Carnival stock or options between January 28, 2020 and May ...
- 07/01/2020
|
US STOCKS-Wall Street set for subdued open as virus surge threatens recovery
- After notching up its biggest three-month gains since 1998 in the previous session, the S&P; 500 looked set to begin the third quarter on a glum note as COVID-19 cases rose by more than 47,000 on Tuesday, with California, Texas and Arizona emerging as new epicenters.
- 07/01/2020
|
US STOCKS-Futures retreat as virus surge threatens recovery
|
Carnival Pullback Could Be a Long-Term Buying Opportunity, Says 5-Star Analyst
- The coronavirus has had a devastating effect on a plethora of industries, with cruise operators amongst the most badly hit.The recent spike in coronavirus cases has sown further uncertainty. Timelines for the resumption of sailings have been pushed back further into the unknown, raising even more concern regarding the industry’s future. Yet, this is precisely why Tigress Financial analyst Ivan Feinseth believes the time is right to consider an investment in the world’s largest cruise operator Carnival (CCL).The 5-star analyst reiterated a Buy rating on CCL “as it will overcome COVID-19 pandemic headwinds, and the pullback in the stock creates a long-term buying opportunity.” However, Feinseth has no fixed price target in mind. (To watch Feinseth’s track record, click here)Once cruise lines are unleashed on the waves again, Feinseth predicts the industry will bounce back with a vengeance. Driving his long-term thesis for Carnival, in particular, are three main points.For one, despite the uncertainty, future booking trends are holding up well. “CCL is experiencing pricing trends for 2021 within the historical ranges of 2019,” Feinseth noted. He also highlighted the fact that 55% of customers booked on cancelled cruises are rebooking or accepting a “future cruise credit over cash refunds.” Even those requesting their money back, Feinseth says, have indicated an intention to rebook once normality resumes.Secondly, further supporting the analyst’s confidence is the cruise operator’s focus on stringent health protocols to ensure passengers’ safety. “When sailings resume, cruise ships will have a more controlled environment, offering increasing safety from potential pandemics as CCL implements fleetwide programs incorporating state-of-the-art safety protocols,” the analyst reassured.Lastly, until it is able to resume operations, Carnival has taken the required steps to maintain the health of its balance sheet. Feinseth noted, “CCL has undergone extensive capital conservation initiatives, including significantly reducing operating expenses as well as reducing and, where possible eliminating discretionary capital expenditures.”These “debt and equity offerings” should keep CCL well-funded until at least early 2021, which is when Feinseth expects sailing, at the latest, to resume.So that’s Tigress Financial’s view, what about the rest of the Street’s take? Overall, Feinseth’s fellow analysts aren’t quite as bullish. 4 Buy ratings, 12 Holds and 4 Sells add up to a Hold consensus rating. The average price target clocks in at $16.91, and implies possible upside of 10%. (See Carnival stock-price forecast on TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
- 06/30/2020
|
Tuesday Morning Market Highlights
- Micron gains on earnings beat Continue reading...
- 06/30/2020
|
Schnitzer Steel, Carnival, Boeing, Facebook and Micron highlighted as Zacks Bull and Bear of the Day
- Schnitzer Steel, Carnival, Boeing, Facebook and Micron highlighted as Zacks Bull and Bear of the Day
- 06/30/2020
|
Implied Volatility Surging for Carnival (CCL) Stock Options
- Investors need to pay close attention to Carnival (CCL) stock based on the movements in the options market lately.
- 06/30/2020
|
Bear of the Day: Carnival (CCL)
- Bear of the Day: Carnival (CCL)
- 06/30/2020
|
Carnival Shareholder Notice: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In Carnival Corporation & Plc To Contact The Firm
- New York, New York--(Newsfile Corp. - June 29, 2020) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Carnival Corporation ("Carnival" or the "Company") (NYSE: CCL) of the July 27, 2020 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.If you invested in Carnival stock or options between January 28, 2020 and May 1, 2020 and would ...
- 06/29/2020
|
TIMELINE-How the global coronavirus pandemic unfolded
|
ROSEN, A TOP RANKED FIRM, Reminds Carnival Corporation & Plc Investors of Important July 27 Deadline in Securities Class Action – CCL, CUK
- Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Carnival Corporation & Plc (NYSE: CCL, CUK) between September 26, 2019 and April 30, 2020, inclusive (the "Class Period") of the important July 27, 2020 deadline in the securities class action. The lawsuit seeks to recover damages for Carnival investors under the federal securities laws.
- 06/28/2020
|
LEAD PLAINTIFF DEADLINE: Johnson Fistel, LLP Encourages Investors to Contact the Firm
- Johnson Fistel, LLP, announces that class action lawsuits have been commenced on behalf of shareholders of the publicly-traded companies listed below. The Private Securities Litigation Reform Act of 1995 permits any investor who purchased common stock during the Class Period to seek appointment as lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. If you wish to serve as lead plaintiff, you must move the Court no later than the dates listed below. If you want to discuss this action or have any questions concerning this notice, please contact lead analyst Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.
- 06/27/2020
|
Why Americans Are Having an Emotional Reaction to Masks
- (Bloomberg Opinion) -- While Americans still have not adopted mask-wearing as a general norm, we’re wearing masks more than ever before. Mask-wearing is mandated in California, and in many counties masks are near-universal in public spaces. So I have started wondering: Does wearing a mask change our social behavior and our emotional inclinations? And if mask-wearing does indeed change the fabric of our interactions, is that one reason why the masks are not more popular in the U.S.?When no one can see our countenances, we may behave differently. One study found that children wearing Halloween masks were more likely to break the rules and take more candy. The anonymity conferred by masks may be making it easier for protestors to knock down so many statues.And indeed, people have long used masks to achieve a kind of plausible deniability. At Carnival festivities around the world people wear masks, and this seems to encourage greater revelry, drunkenness, and lewd behavior, traits also associated with masked balls. The mask creates another persona. You can act a little more outrageously, knowing that your town or village, a few days later, will regard that as “a different you.”If we look to popular culture, mask-wearing is again associated with a kind of transgression. Batman, Robin and the Lone Ranger wear masks, not just to keep their true identities a secret, but to enable their “ordinary selves” to step into these larger-than-life roles.But if we examine mask-wearing in the context of Covid-19, a different picture emerges. The mask is now a symbol of a particular kind of conformity, and a ritual of collective responsibility and discipline against the virus. The masks themselves might encourage this norm adherence by boosting the sense of group membership among the wearers.The public health benefits of mask-wearing far exceed the social costs, but still if we want mask-wearing to be a stable norm we may need to protect against or at least recognize some of its secondary consequences, including the disorientations that masks can produce. Because mask-wearing norms seem weakest in many of the most open societies, such as the United States and United Kingdom, perhaps it is time to come to terms how masks rewrite how we react and respond to each other.If nothing else, our smiles cannot be seen under our masks, and that makes social interactions feel more hostile and alienating, and it may lower immediate levels of trust in casual interactions. There are plenty of negative, hostile claims about masks circulating, to the point of seeming crazy, but rather than just mocking them perhaps we need to recognize what has long been called “the paranoid style in American politics.” If we admit that mask-wearing has a psychologically strange side, we might do better than simply to lecture the miscreants about their failings.Just ask yourself a simple question: If someone tells you there is a new movie or TV show out, and everyone in the drama is wearing masks, do you tend to think that’s a feel-good romantic comedy, or a scary movie? In essence, we are asking Americans to live in that scenario, but not quite giving them the psychological armor to do so successfully.On the brighter side, I wonder if mask-wearing might diminish some expressions of intolerance. People who might feel that others are “looking at them funny” might find themselves with less to be offended by as masks obscure those micro-reactions. Common mask-wearing is already reportedly easing the public judgment experienced by Muslim women who wear face coverings in Western society; some Muslim women who wear the niqab report that they are no longer being given dirty looks, if only because they no longer stick out so much.Women who cover their faces for religious reasons may now be ahead of the rest of us when it comes to effective communication — because they cannot rely as much their faces to convey emotion in public conversations, they report relying on more visible body language like waving and gesturing.The tension of current mask policy is that it reflects a desire for a more obedient, ordered society, for public health purposes above all, but at the same time it creates incentives and inclinations for non-conformity. That is true at least within the context of American culture, admittedly an outlier, both for its paranoia and for its infatuation with popular culture. As a society, our public mask-wearing is thus at war with its own emotional leanings, because it is packaging together a message based on both discipline and deviance.What can we do to convince people that a mask-laden society, while it will feel weird and indeed be weird, can be made stable and beneficial through our own self-awareness? While there is no simple answer to that question, mask advocates should recognize that they have been treading into unusual cultural territory, and should not be surprised by unusual public responses.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tyler Cowen is a Bloomberg Opinion columnist. He is a professor of economics at George Mason University and writes for the blog Marginal Revolution. His books include "Big Business: A Love Letter to an American Anti-Hero."For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 06/27/2020
|
Carnival Corporation & plc Announces Pricing of $1.86 billion and €800 million First-Priority Senior Secured Term Loan Facility
- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) (the "Company") one of the world's largest leisure travel companies, today announced the pricing of Carnival Corporation's first-priority senior secured term loan facility, consisting of a $1,860 million tranche and a €800 million tranche, with a maturity of five years. The U.S. dollar tranche will be issued at a price equal to 96% of its face value and will bear interest at a rate per annum equal to adjusted LIBOR (with a 1% floor) plus 7.500%. The euro tranche will be issued at a price equal to 96% of its face value and will bear interest at a rate per annum equal to EURIBOR (with a 0% floor) plus 7.500%. Both tranches of the term loan facility will be prepayable, in whole or in part, at the Company's option at a price equal to the face value plus a customary make-whole amount for the first year after closing, 102% of the face value for the second year after closing and par thereafter. The obligations under the term loan facility will be guaranteed by Carnival plc and the same subsidiaries that currently guarantee, and will be secured on a first-priority basis by the same collateral that currently secures, Carnival Corporation's 11.500% first-priority senior secured notes due 2023.
- 06/26/2020
|
CCL ALERT: The Klein Law Firm Announces a Lead Plaintiff Deadline of July 27, 2020 in the Class Action Filed on Behalf of Carnival Corporation & Plc Limited Shareholders
- New York, New York--(Newsfile Corp. - June 26, 2020) - The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Carnival Corporation & Plc (NYSE: CCL) alleging that the Company violated federal securities laws.Class Period: September 26, 2019 and May 1, 2020Lead Plaintiff Deadline: July 27, 2020Learn more about your recoverable losses in DNK:http://www.kleinstocklaw.com/pslra-1/carnival-corporation-loss-submission-form?id=7598&from;=5The filed complaint alleges that Carnival Corporation & Plc made materially false and/or ...
- 06/26/2020
|
Big Deals Highlight Boom in Convertible Securities
- June U.S. new-issuance so far has totaled $19.5 billion, just shy of $21.2 billion in May. There have been $67 billion of new deals so far this year, ahead of the $53.1 billion sold in all of 2019, according to Michael Youngworth, the head of global convertibles strategy at Bank of America Securities. Convertibles are one of the better asset classes so far this year, with the ICE BofA All U.S. Convertibles Index showing a total return of 6.2% through Thursday, against a negative 3.6% return for the S&P; 500 index.
- 06/26/2020
|
This Analyst Warns Cruise Investors: A Full Recovery Is Still “Several Years” Away
- America's up-again, down-again group of cruise line stocks -- Carnival Corporation (CCL), Royal Caribbean (RCL), and Norwegian Cruise Line Holdings (NCLH) -- went down again, en masse, this week, with all three companies' stocks sinking 10% or more.Don't say you were not warned.Analyst Chris Woronka of Deutsche Bank penned a note in which he tweaked price targets ever so slightly higher. At the same as he did this, however, Woronka also warned investors that none of the three publicly-traded cruise stocks is currently cheap enough to buy.Although Woronka raised his estimates (the price target on Carnival going from $11 to $13 a share, Royal Caribbean going from $36 to $40, and Norwegian Cruise from $11 to $15), the analyst remained firmly on the fence about all three of these companies, and reiterated a "hold" rating on all three stocks. Turns out, while in the long term Woronka sees the three major cruise stocks recovering after getting torpedoed by the COVID-19 panic, it could be several years still before things start to look better for them.So, how precisely does Woronka seeing this situation playing out?First, the background. COVID-19 has done a number on the cruise stocks, first by frightening potential customers away, and later by making it utterly impossible for passengers to cruise, even were they so inclined, because of a "no-sail" order implemented by the Centers for Disease Control to prevent further spreading of the coronavirus. For the past several months therefore, cruise companies have had no revenue at all coming in. A recent announcement by the Cruise Lines International Association (CLIA), declaring that no cruise line will resume sailing before September 15 at the earliest, means there probably won't be any revenues coming in for another three -- or more -- months.To survive this situation, cruise lines have been cutting costs wherever they can. Woronka believes that, because cruise lines need to continue cutting costs, and are also forecasting a decline in demand for their services, it's likely that the cost cutting will result in cruise lines both postponing deliveries of cruise ships they've already ordered, and also selling off some of the ships they already have.Woronka believes that these ship sales will both generate cash (e.g. $3 billion in Carnival's case) that cruise companies can use to live on while confined to port, and also result in smaller, more efficient fleets by the time things start to recover two or three years from now. By the time 2023 rolls around, the analyst forecasts that Carnival, for example, will be operating a fleet 20% smaller than its current fleet. Royal Caribbean's fleet will be 8% smaller, and Norwegian's, 7% smaller.Smaller fleets are easier to fill up quickly with passengers, such that by 2023, Woronka believes that Carnival, for example, will have "net yields" (ships sailing with all cabins full) 3% higher than it enjoyed in 2019. And because fleets will be eliminating their older, less profitable ships, he also predicts EBITDA profit margins will improve at all three cruise lines.That's the good news. Now here's the bad: In addition to selling old ships, cruise lines have also been taking on boatloads of new debt in order to raise the cash they need to remain solvent while confined to port. In total, Carnival, Royal Caribbean, and Norwegian Cruise are estimated to have taken on about $16 billion in new debt since the pandemic broke, while raising only about $1 billion in cash through share sales.Even at low interest rates, Woronka estimates that all this debt will add about $1.3 billion in annual interest expense at the cruise lines, thus siphoning off money that would otherwise drop to the bottom line, and depressing 2023 earnings per share by anywhere from 23% to 30% at all three cruise lines.So long story, short? Yes, cruise lines will recover, and several years from now, when coronavirus is only a distant memory, cruise ships will probably be back to sailing at full capacity. Because of the measures the cruise lines had to undertake to survive to see that day, however, each and every one of these cruise stocks is going to be significantly less profitable -- which is why Deutsche Bank can't recommend buying any of Carnival, Royal Caribbean, or Norwegian Cruise Line stocks today.Using TipRanks’ Stock Comparison tool, we lined up the three alongside each other to get an idea of what the analyst community has to say about the long-term growth prospects of these cruise line players.To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
- 06/26/2020
|
After Carnival’s Latest Quarter, Why Do Analysts Bother?
- Carnival (NYSE:CCL) reported preliminary second-quarter results on June 18. The cruise operator had an adjusted net loss of $2.4 billion or $3.30 share from $700 million in revenue. CCL stock dropped about 11% since releasing the news.Source: Ruth Peterkin / Shutterstock.com At this point, it makes no sense for investors interested in buying and selling Carnival stock, in giving one bit of thought to analyst estimates. My cat could do just as good a job modeling future sales and earnings. The latest results show just how big a mug's game professional research analysis is at the moment. Carnival's Miss Was BigOn the top line, Carnival's sales missed the consensus estimate of $809.1 million by $109.1 million. Only a 13.5% miss. In the upside-down business environment that is the novel coronavirus, that's actually quite good. InvestorPlace - Stock Market News, Stock Advice & Trading TipsHowever, the analysts were expecting an adjusted loss of $1.52. Carnival delivered a loss that was 117% greater than the consensus estimate. To be fair to analysts, they had no way of knowing what the exact size of Carnival's impairments would be during the quarter -- it was $1.95 billion or $2.71 a share -- but given the size of the earnings miss, you have to wonder what the value of analyst estimates are in times of crisis. * 10 Consumer Stocks to Buy to Ride the Post-Covid-19 Wave In case you've wondered, a total of 22 analysts cover Carnival. Three rate CCL stock a "buy," 15 view it as a "hold," and four rate it "underweight" or an outright "sell." The mean rating is a "hold." The 12-month target price is $16.23, about where it's currently trading on June 24. For 2020, the analyst estimate for the fiscal year is a loss of $5.68. In fiscal 2021, it expects that loss to drop to $1.55 a share. That's not too bad until you realize that in 2019, Carnival earned $4.27 a share. Carnival Will Burn $650 Million a MonthCarnival says it will burn $650 million per month between June and November. On June 22, it said that there would be no cruises until the beginning of October. "During this unprecedented pause in our business, we have continued to assess the operating environment and confer with public health, government and industry officials," Carnival Cruise Line president Christine Duffy told booked guests and travel agents in a letter.This was Carnival's third pause in operations. If there's another, investors shouldn't expect a resumption of service until calendar 2021. I happened to read a rather funny statement in the comments section after a June 23 Zacks Equity Research article about CCL's extension of the suspension. "Cash burn of $650 million against $7.7 billion worth of cash is not really all that bad, At that rate, they could hold out for (about) 6 years with zero income, and we know that isn't going to happen. Overall, while I think the whole industry has taken some serious hits, they are only black eyes as opposed to a crushed sternum," wrote someone named Eric. This person might be the same person investing in Hertz (NYSE:HTZ) stock.Eric, if you're reading this, the $650 million is per month, not per year. About 51% of its cash will be spent by the end of November. At the current burn rate, it has approximately 12 months of cash available. So, yes, it's not in "going concern" danger, but like all of its peers, it's not building billion-dollar ships for them to be docked 24/7, 365 days of the year.They've got to get back out there. And fast. Why Buy CCL Stock?In early June, I wrote about director Randall Weisenburger's $10 million purchase of CCL stock. The long-time director bought 1.25 million shares at $8 a pop. Even with a 12% drop in its stock price due to a 2.7% correction in the S&P; 500, Weisenburger's still sitting on a 99% return on investment. Annualized, that's an almost 600% return. I'll take that every day and twice on Sundays.What do you think the odds are that Weisenburger didn't check the analyst estimates before making his big bet on Carnival stock? I'd say pretty darn high. I get that analysts have a job to do, and it's a tough one at that, but in situations like Carnival's currently sitting, you have to wonder why they bother. It's like trying to throw a ball from the open hatch of one plane to another at 35,000 feet.Is CCL a buy? I still say single digits, as the director did, is the only way to play this. Until then, keep your powder dry. Will Ashworth has written about investments full-time since 2008. Publications where he's appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia. At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * Why Everyone Is Investing in 5G All WRONG * America's 1 Stock Picker Reveals His Next 1,000% Winner * Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company * Radical New Battery Could Dismantle Oil Markets The post After Carnivala€™s Latest Quarter, Why Do Analysts Bother? appeared first on InvestorPlace.
- 06/26/2020
|
SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Carnival Corporation & Plc of a Class Action Lawsuit and a Lead Plaintiff Deadline of July 27, 2020 - CCL
- New York, New York--(Newsfile Corp. - June 26, 2020) - The following statement is being issued by Levi & Korsinsky, LLP:To: All persons or entities who purchased or otherwise acquired securities of Carnival Corporation & Plc (NYSE: CCL) ("Carnival") between September 26, 2019 and May 1, 2020. You are hereby notified that a securities class action lawsuit has been commenced in the the United States District Court for the Southern District of Florida. To get more ...
- 06/26/2020
|
Do Hedge Funds Love Carnival Corporation & Plc (CUK)?
- 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. […]
- 06/26/2020
|
CCL INVESTOR FILING DEADLINE: Bernstein Liebhard Reminds Investors of the Lead Plaintiff Motion Filing Deadline in a Securities Class Action Lawsuit has been Filed Against Carnival Corporation
- Bernstein Liebhard, a nationally acclaimed investor rights law firm, reminds investors of the deadline to file a lead plaintiff motion in a securities class action has been filed on behalf of investors that purchased or acquired the securities of Carnival Corporation ("Carnival" or the "Company") (NYSE:CCL) between January 28, 2020 and May 1, 2020 (the "Class Period"). The lawsuit filed in the United States District Court for the Southern District of Florida alleges violations of the Securities Exchange Act of 1934.
- 06/26/2020
|
3 Cruise Stocks to Buy as the World Returns to Normal
- Cruise stocks have been on a wild roller-coaster ride in 2020.First, the big drop. Then, the big rebound. Most recently, another big drop, on fears that a "second wave" of the novel coronavirus is emerging across the U.S.What comes next?InvestorPlace - Stock Market News, Stock Advice & Trading TipsA big and sustainable rally, meaning now is the time to buy cruise stocks.The logic is simple. Over the past few weeks, we've had: 1) arguably the most controversial filmed police killing of all time, 2) tons of protests and riots across the country, including some that have turned violent and forced store closures and 3) a sharp uptick in confirmed coronavirus cases across several states.Through it all, the U.S. economic recovery has persisted. Consumer mobility has increased. Restaurant and store foot traffic has improved. Consumer search interest in all things travel related has only grown. Overall economic activity has sustainably perked up. The stock market has kept ticking higher.Under the hood, what's happening is that "cabin fever" is finally getting to consumers and "nearly bankrupt" businesses are desperate to get back to some semblance of normal. As such, consumers and businesses alike are both increasingly learning how to keep the world turning while simultaneously managing Covid-19 risks via things like social distancing, plastic barriers and mask-wearing.Both parties will get better at this balancing act over the next few months. As they do, the human costs of the virus will remain relatively mitigated, while economic and social activity will continue to perk up.Against that backdrop, stocks will keep rallying -- especially recovery-sensitive, mobility stocks, like cruise stocks. * 10 Consumer Stocks to Buy to Ride the Post-Covid-19 Wave To that end, the best cruise stocks to buy as the world gets back to "normal" are: * Carnival (NYSE:CCL) * Royal Caribbean (NYSE:RCL) * Norwegian Cruise Line (NYSE:NCLH)Let's look at what makes each worth considering in this post-Covid-19 world. Cruise Stocks to Buy: Carnival (CCL)Source: Ruth Peterkin / Shutterstock.com The world's biggest cruise line operator, Carnival, doubles as one of the best cruise stocks to buy now.By my numbers, CCL stock could rally 70%+ over the next 18 months.Of course, fiscal 2020 for this company will be awful. For more than half of the year, the company will run zero cruises. For the other half of the year, cruise capacity will be significantly depressed -- if those planned cruises run at all.Fiscal 2021 will be a much better year. Consumers will get more comfortable with riding on cruises, especially if prices remain discounted and if a vaccine is approved by early 2021. Concurrent to that, Carnival will increase cruise capacity. The company's revenues and profit margins will meaningfully rebound.By fiscal 2022, things should be largely back to "normal" for Carnival. The virus will be more than two years old. The vaccine will have been in circulation for more than a year. Global travel trends will start to look like they did in 2019.Assuming so, Carnival's fiscal 2022 revenues should be awfully close to where they were in fiscal 2019 (approximately $21 billion). Profit margins won't rebound to where they had been historically -- roughly 17% average operating margin from 2015 to 2019 -- but should recover to a lower steady-state around 10% to 12% thanks to higher cleaning and maintenance costs.Under those assumptions, $2.40 seems like a doable earnings per share target for Carnival by 2022. CCL stock historically trades at 13-times forward earnings.That combination implies a fair 2021 price target for CCL stock of over $31 -- or more than 70% above where shares trade today. All of that together makes Carnival one of the best cruise stocks to consider buying now. Royal Caribbean (RCL)Source: NAN728 / Shutterstock.com Royal Caribbean has seen its stock price drop 30% on second wave fears. Now, the cruise line stock will rebound by more than 50% as those fears abate and business trends recover over the next 12 to 18 months.Royal Caribbean's 2020 will be a wash. We all know that. But management has said that 2021 bookings are trending in a "normal" range, implying that next year could be a huge bounce-back year for the cruise line operator.Assisting that bounce-back will be a potential Covid-19 vaccine in early 2021, low travel prices, potential travel subsidies, pent-up demand and increasing consumer confidence that virus risks can be managed … even on a cruise ship.Still, it will likely take another year until cruise travel trends fully recover. Assuming so, by 2022, Royal Caribbean's revenue profile should look a lot like it did in 2019.Fiscal 2019 revenues were around $11 billion. Fiscal 2022 revenues should recover to roughly $10.5 billion. Operating margins in 2019 were about 19%. They should rebound to 15% in 2022, with that four point delta accounted for in increased cleaning spend.Under those assumptions, my modeling suggests $6 in 2022 earnings per share is doable. Based on a historically-average 13-times forward earnings multiple, that implies a 2021 price target for RCL stock of $78. * 7 Explosive Cryptocurrencies to Buy After the Bitcoin Halvening That's up about 50% from where RCL stock currently trades. Norwegian Cruise Line (NCLH)Source: Roberto Sorin / Shutterstock.com Last, but not least, on this list of cruise stocks to buy is Norwegian Cruise Line.My base case for Norwegian broadly follows my base case for Carnival and Royal Caribbean.That is, a really bad year in 2020, followed by a strong recovery in 2021, and a further recovery in 2022 to traffic and revenue levels nearly on par with 2019 levels. Profit margins concurrently recover. But settle out at levels materially below where they were in 2019, thanks to higher cleaning and maintenance costs.That mental framework pegs Norwegian's 2022 revenues around $6 billion, and its profit margins around 10% to 12%.Under those very basic and reasonable assumptions, my modeling suggests that by 2022, Norwegian's earnings per share could rebound to $2.50, which is well within the range of Wall Street's estimates. Based on a historically average 12-times forward earnings multiple, that implies a 2021 price target for NCLH stock of $30.NCLH stock trades hands at $18. Thus, shares have visible runway to more than 65% upside over the next 18 months.Luke Lango is a Markets Analyst for InvestorPlace. He has been professionally analyzing stocks for several years, previously working at various hedge funds and currently running his own investment fund in San Diego. A Caltech graduate, Luke has consistently been recognized as one of the best stock pickers in the world by various other analysts and platforms, and has developed a reputation for leveraging his technology background to identify growth stocks that deliver outstanding returns. Luke is also the founder of Fantastic, a social discovery company backed by an LA-based internet venture firm. As of this writing, he did not hold a position in any of the aforementioned securities. More From InvestorPlace * Why Everyone Is Investing in 5G All WRONG * America's 1 Stock Picker Reveals His Next 1,000% Winner * Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company * Radical New Battery Could Dismantle Oil Markets The post 3 Cruise Stocks to Buy as the World Returns to Normal appeared first on InvestorPlace.
- 06/26/2020
|
Carnival Deadline Alert: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In Carnival Corporation & Plc To Contact The Firm
- New York, New York--(Newsfile Corp. - June 26, 2020) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Carnival Corporation (NYSE: CCL) ("Carnival" or the "Company") of the July 27, 2020 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi logoIf you invested in Carnival stock or options between January 28, 2020 and ...
- 06/26/2020
|
Pause, Before You Hit That Sell Button
- Gains in high-quality stocks have some investors thinking they should hit the sell button. Common fears include that valuation ratios may plunge, or that there
- 06/26/2020
|
Takeaways From Earnings Calls: A Focus On The Home
- Renewed focus on the home means housing is holding up well. Observations from the travel industry: Cruising may take a while to bounce back, and there is renewe
- 06/25/2020
|
It Happened - The Second Wave Is Here
- As predicted, newly diagnosed cases keep climbing, even hitting a new country-wide record high this week. Increased testing is not the reason, showcased by the
- 06/25/2020
|
US STOCKS-Wall Street drops on rising virus cases, weak economic view
- U.S. stocks fell sharply on Wednesday as a surge in coronavirus cases in the United States re-ignited fears of a new round of government lockdowns, compounding worsening forecasts of the economic damage from the pandemic further. The United States has recorded the second-largest rise in infections since the health crisis began, with states where restrictions meant to slow the spread of the disease were lifted early witnessing a flare-up in cases. Shares of U.S. airlines, resorts and cruise operators slumped.
- 06/24/2020
|
Wednesday Morning Market Highlights
- Markets down, La-Z-Boy reports quarterly results Continue reading...
- 06/24/2020
|
US STOCKS-Wall Street tumbles on rising virus cases, grim economic forecast
- U.S. stocks fell sharply on Wednesday as a surge in coronavirus cases in the United States fanned fears of a fresh lockdown, with worsening forecasts of the economic damage from the pandemic further denting sentiment. The United States has recorded the second-largest rise in infections since the health crisis began, with states where restrictions meant to slow the spread of the disease were lifted early witnessing a flare up in cases. Shares of U.S. airlines, resorts and cruise operators slumped and the S&P; 1500 airlines index fell 7.3%.
- 06/24/2020
|
US STOCKS-Wall Street slumps on virus worries, grim economic forecast
- Wall Street's three major indexes tumbled on Wednesday as investors weighed the risk to domestic economy from rising coronavirus cases and a worsening forecast of the damage from the pandemic. The International Monetary Fund said the pandemic was causing wider and deeper damage to economic activity than first thought, prompting it to slash its 2020 global output forecasts further to 4.9% from 3.0%. Wall Street's fear gauge, the CBOE volatility index, rose 3.4 points to 34.74.
- 06/24/2020
|
Will Carnival Catch a Break? Not Anytime Soon
- On Tuesday, cruise line operator Carnival Corp. saw its debt cut to junk status by S&P;, from BBB- to BB-, with a negative outlook. The same day Moody's cut CCL debt to Ba2 from Ba1. The company has taken steps to shore up liquidity through the issuance of $6.6 billion of stock and debt, drawdown of it's $3 billion credit facility, and suspension of its dividend.
- 06/24/2020
|
Cruise Stocks Sail Higher Despite Extended Cancellations
- Investors may be coming aboard cruise line stocks in the second half of 2020. Position for smoother sailing with these trading ideas.
- 06/24/2020
|
Carnival Credit Rating Slashed to Junk Status by S&P
- Carnival Corp.'s debt is cut to junk status by S&P; due to the continued impact of the coronavirus outbreak.
- 06/24/2020
|
US STOCKS-Wall Street set for lower open as coronavirus cases flare up
- Wall Street's main indexes were set to open lower on Wednesday, a day after Nasdaq hit another closing high, as investors assessed the risk to the domestic economy from a rise in coronavirus cases in several U.S. states. Washington state made face masks mandatory in public places, while many other U.S. states saw record cases, including Arizona and Texas, where restrictions meant to slow its spread were lifted early. The top U.S. infectious disease official Anthony Fauci said the next two weeks could be critical in containing the outbreak.
- 06/24/2020
|
US STOCKS-Futures fall as U.S. states rush to contain virus flare-ups
|
SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Carnival Corporation & Plc of a Class Action Lawsuit and a Lead Plaintiff Deadline of July 27, 2020 - CCL
- New York, New York--(Newsfile Corp. - June 24, 2020) - The following statement is being issued by Levi & Korsinsky, LLP:To: All persons or entities who purchased or otherwise acquired securities of Carnival Corporation & Plc ("Carnival") (NYSE: CCL) between September 26, 2019 and May 1, 2020. You are hereby notified that a securities class action lawsuit has been commenced in the the United States District Court for the Southern District of Florida. To ...
- 06/24/2020
|
Little Doubt With Carnival As A Going Concern
- Carnival's 2Q earnings were lackluster as the company lost an adjusted $2.4 billion, but the liquidity updates provided paint a positive picture. Carnival has ~
- 06/24/2020
|
Carnival’s Credit Rating Cut To Junk Status At S&P On Weak Demand Prospect
- Carnival Corp’s (CCL) credit rating was cut to non-investment grade or junk status at Standard & Poor’s (S&P;) as the rating agency expects the cruise industry to grapple with an extended period of weak demand through at least 2021.S&P; downgraded the cruise operator’s secured bonds to BB+ from BBB-, and its unsecured bonds to BB- from BBB-. The overall issuer credit rating was cut to BB- from BBB-. Shares dropped 2.2% to $17.61 in after-market trading on Tuesday.“We forecast that the company’s credit measures will remain very weak through 2021 and anticipate that its adjusted leverage may potentially exceed 10x in 2021 following a significant deterioration in its performance in 2020,” S&P; credit analyst Ariel Silverberg said in a statement.The credit rating agency expects Carnival’s EBITDA to be significantly more negative in 2020 due to higher-than-anticipated expenses to repatriate its guests and crew and the incremental expenses associated with its need to keep more ships out of service for longer.The cruise operator is likely to begin to bring its capacity back online in a phased manner as early as September, S&P; said. However, initial itineraries are poised to be limited due to continued port closures and local government and health authority requirements. Additionally, it may take Carnival multiple months to bring all of its ships back into service, the rating agency said.As a result, S&P; now estimates that debt levels will be “materially higher” in 2021 amounting to about $25 billion, compared with a prior forecast of about $20 billion. As of May 31, Carnival had $7.6 billion of available liquidity.“We believe this liquidity, in conjunction with the proceeds from its proposed $1.5 billion term loan and committed ship financing, should be sufficient to cover the company's cash needs for the remainder of the current fiscal year and into 2021,” Silverberg said.Carnival shares have shed as much as 65% of their value following major coronavirus outbreaks on a number of cruise ships, including its Diamond Princess. The stock has seen some relief earlier this month as the cruise operator reported a surge in bookings amid prospects that that it may restart some cruises in August.Deutsche Bank analyst Chris Woronka yesterday raised the firm's price target to $13 from $11, saying that although cruise stocks have come off their June 8 highs, a "curiously healthy dose of optimism" about the out-years remains.Woronka believes that the industry's key players are undertaking actions that will ultimately allow them to emerge from the COVID-19 downturn in the best possible position to restore profitability.However, the analyst still maintains a Hold rating on the stock as he says the company "has come too far, too fast" and he's wary of certain Street forecasts that indicate a V-shaped recovery in cruise earnings.Overall the Wall Street analyst outlook is in line with Woronka’s stance. The Hold consensus shows 12 Hold ratings and 4 Sell ratings versus 3 Buy ratings. The average price target stands at $16.13, reflecting 6.1% downside potential over the coming year. (See CCL’s stock analysis on TipRanks).Related News: Carnival Posts $4.4B Quarterly Loss Sending Shares Down 7% In Pre-Market Carnival’s Recovery Is a Ways Away, Says Analyst Royal Caribbean Warns Of Q2 Loss, Sees Sailings Suspended Until July 31 More recent articles from Smarter Analyst: * Gilead To Acquire Stake in Cancer Drug Developer Pionyr For $275 Million * Canadian Cannabis Producer Aurora Cannabis Plans Job Cuts, Closure of 5 Plants * J&J; Fails To Overturn Baby Powder Verdict, Damages Cut To $2.12B * Mastercard Buys Finicity For $825 Million; Top Analyst Cuts Rating
- 06/24/2020
|
Carnival Deadline Alert: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In Carnival Corporation & Plc To Contact The Firm
- New York, New York--(Newsfile Corp. - June 23, 2020) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Carnival Corporation (NYSE: CCL) ("Carnival" or the "Company") of the July 27, 2020 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi LogoIf you invested in Carnival stock or options between January 28, 2020 and ...
- 06/24/2020
|
Carnival’s Recovery Is a Ways Away, Says Analyst
- There’s no relief on the horizon yet for the beleaguered cruise line industry. On June 19, the Cruise Lines International Association (CLIA) announced all cruise operations will remain suspended until September 15.The announcement followed a disquieting quarterly report from struggling cruise line Carnival (CCL). In fiscal Q2, the world’s largest cruise operator lost $3.30 per share, more than double the Street’s $1.52 call. Revenue of $700 million also came in far below the $1.13 billion consensus estimate.For Deutsche Bank analyst Chris Woronka, the results are “of little consequence.” Cruise lines saw no action for virtually the whole quarter, and have been busy making sure the books are in order to keep themselves afloat while chained to the harbor. The analyst tells clients he is more concerned with what happens next.Carnival estimates that for the fiscal year’s second half (June- November), it will burn through $650 million a month. Woronka projects that with “complete suspension of operations and no further cost reductions,” the company has more than 11 months of runway.However, Woronka believes Carnival will be back at the hole in the wall shortly for more cash.The analyst said, “It's unclear if CCL's cash burn forecast assumes any incremental interest expense likely to result from the $2.4 billion of debt that it expects to refinance over the next 12 months. In the release, CCL notes that it ‘expects to further enhance future liquidity, including through refinancing scheduled debt maturities.’ In our opinion, it's more likely than not that CCL will raise capital beyond the level of near-term maturities.”Looking ahead to the resumption of cruises and next year’s schedule, CCL said the booking levels for 2021 itineraries currently on offer are "within historical ranges" although prices are down “low to mid-single digits.”Additionally, during the six weeks leading up to May 31, booking volumes for 2021 were "meaningfully behind" last year’s levels.In any case, according to Woronka, the numbers are insignificant as long as the coronavirus rages on. “Net, the update doesn't change our view that there remain several key hurdles before broad-based sailings can resume and we think some sort of incremental, widely available medical breakthroughs for COVID are necessary for there to be widespread confidence among consumers,” he explained.All in all, Woronka keeps a Hold rating on Carnival along with an $11 price target. This conveys the analyst’s belief shares could drop by 38% over the coming months. (To watch Woronka’s track record, click here)Woronka’s take is backed by the rest of the Street. 3 Buys, 11 Holds and 4 Sells add up to a Hold consensus rating. The average price target, while more forgiving than Woronka’s, at $16.71, still indicates downside potential of 6%. (See Carnival stock-price forecast on TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
- 06/24/2020
|
REFILE-Cruise operator Carnival's credit rating cut to junk status by S&P
- Ratings agency Standard & Poor's on Tuesday downgraded bonds of Carnival Corp to junk status, forecasting continued weak demand for the cruise industry hammered by the COVID-19 pandemic. Standard & Poor's cut its rating on the world's biggest cruise operator's secured bonds to 'BB+' from 'BBB-', and its unsecured bonds to 'BB-' from 'BBB-'. Both are now regarded as non-investment grade or junk bonds.
- 06/23/2020
|
Carnival Becomes Latest Fallen Angel While Covid Halts Cruises
- (Bloomberg) -- Carnival Corp. is the latest cruise line to lose its investment-grade credit ratings after S&P; Global Ratings downgraded the company Tuesday.S&P; slashed the company’s long-term rating by three levels to BB-, from BBB-, saying the cruise line’s credit metrics are likely “to remain very week through at least 2021” as it begins to slowly resume its operations. The cut from S&P; hands the company a second high-yield credit rating, meaning its debt will leave investment-grade credit indexes.Moody’s Investors Service cut the company to junk in May. In a statement Tuesday, it downgraded Carnival’s unsecured credit ratings by one notch to Ba2, the second-highest junk rank. It also rated Carnival’s planned term loan Baa3, the lowest investment-grade rating. S&P; graded the new loan BB+, or one step lower.Miami-based Carnival is now marketing around $1.5 billion of loans in European and U.S. credit markets as it seeks to shore up its liquidity while the coronavirus pandemic halts cruises. The latest round of financing follows a $4 billion bond sale in April.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.
- 06/23/2020
|
Market Recap: Tuesday, June 23
- The markets closed in the green after Tuesday’s trading session, with the ten of the eleven sectors posting gains as hopes for a coronavirus vaccine rose and U.S. - China trade fears diminished. The Final Round panel discusses the latest.
- 06/23/2020
|
Carnival Corporation -- Moody's assigns Carnival's proposed secured term loan a Baa3 rating, downgrades unsecured rating to Ba2
- Moody's Investors Service, ("Moody's") assigned a Baa3 rating to Carnival Corporation's planned senior secured term loan B (together with Carnival plc, "Carnival"). At the same time, Moody's downgraded the company's senior unsecured rating to Ba2 from Ba1. Carnival's other ratings are unchanged, including its Ba1 Corporate Family Rating, Ba1-PD Probability of Default Rating, and SGL-2 Speculative Grade Liquidity rating.
- 06/23/2020
|
Carnival's Debt Overview
- Over the past three months, shares of Carnival Inc. (NYSE: CCL) rose by 19.92%. Before we understand how much debt Carnival has, let's look at the importance of debt.Carnival's Debt According to the Carnival's most recent financial statement as reported on April 3, 2020, total debt is at $12.94 billion, with $9.74 billion in long-term debt and $3.20 billion in current debt. Adjusting for $1.35 billion in cash-equivalents, the company has a net debt of $11.58 billion.Investors look at the debt-ratio to understand how much financial leverage a company has. Carnival has $46.94 billion in total assets, therefore making the debt-ratio 0.28. Generally speaking, a debt-ratio more than 1 means that a large portion of debt is funded by assets. As the debt-ratio increases, so the does the risk of defaulting on loans, if interest rates were to increase. Different industries have different thresholds of tolerance for debt-ratios. For example, a debt ratio of 25% might be higher for one industry, whereas normal for another.Why Investors Look At Debt? Debt is an important factor in the capital structure of a company, and can help it attain growth. Debt usually has a relatively lower financing cost than equity, which makes it an attractive option for executives.Interest-payment obligations can impact the cash-flow of the company. Having financial leverage also allows companies to use additional capital for business operations, allowing equity owners to retain excess profit, generated by the debt capital.See more from Benzinga * Benzinga's Top Upgrades, Downgrades For June 22, 2020 * Morning Market Stats in 5 Minutes * Benzinga's Top Upgrades, Downgrades For June 18, 2020(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- 06/23/2020
|
Carnival (CCL) Stock Down on Cruise Suspension Extension
- Carnival (CCL) extends the suspension of its operations of cruises in North America through Sep 30, 2020.
- 06/23/2020
|
The Current COVID-19 Investment Landscape
|
Robinhood Crowd Misses Out on Convertible Bonds
- (Bloomberg Opinion) -- It’s growing more likely by the day that we’ve reached peak “bored retail trader” in the financial markets.Bloomberg News, The Wall Street Journal and seemingly every financial news publication has now profiled Dave Portnoy, founder of the website Barstool Sports, who has turned to day-trading stocks with sports on hold because of the coronavirus pandemic. Robinhood Financial’s trading app is all the rage, being credited with the shocking rally in shares of bankrupt Hertz Global Holdings Inc. that almost prompted an unthinkable offering of potentially worthless stock. My Bloomberg Opinion colleague Matt Levine has called this entire phenomenon the “boredom markets hypothesis.” If this trend is close to running its course, more traditional investors might want to consider what happens when the music stops and Portnoy’s No. 1 rule — “stocks only go up” — doesn’t work so flawlessly. The S&P; 500 Index’s sharp rally from its March lows is already starting to fizzle, with the index down more than 3% during the past two weeks. While hardly backbreaking, it’s the largest loss over such a sustained period since the worst of the selloff three months ago. Even sideways trading for the summer would violate the day trader’s mantra.Fortunately for sophisticated investors who might side with Warren Buffett and Leon Cooperman over the Robinhood crowd, there’s an intriguing asset class for this crossroads: convertible bonds.The securities, which can be swapped for shares at specified prices, have already been having something of a moment. The Bloomberg Barclays U.S. Convertibles Composite Total Return index jumped to a record on June 8 and remains close to that lofty level. Convertible bonds have gained 7.8% so far in 2020, better than the 5% return on investment-grade corporate bonds and the roughly 3% loss for the S&P; 500. I’ve written before about how it seems as if there’s something inherently “cheap” about convertibles that boosts returns above and beyond a mix of stocks and bonds. Part of it might be the types of companies that offer such securities. Within the Bloomberg Barclays index, some of the biggest names include Tesla Inc., Carnival Corp., Southwest Airlines Co., Microchip Technology Inc. and Workday Inc. In other words, a combination of technology companies that have powered the U.S. stock market rally and brand-name businesses particularly harmed by the coronavirus but part of the “recovery trade” strategy. American Airlines Group Inc. is in the market selling convertible notes, too.Some of these individual companies are favorites of the new day-trading crowd. But for those who want to bet on convertible bonds, and specifically to keep trading relatively small sums with zero commission, the $4 trillion exchange-traded fund market is probably their best bet. Yet even the asset class’s sharp rally hasn’t been enough to lure individuals from the thrill of wagering on the trendy stock pick of the day. Consider the $717 million iShares Convertible Bond exchange-traded fund (ticker ICVT), which has soared since March and is up more than 6% this month alone. A few weeks ago, it looked as if it might have been discovered — on June 3, its assets increased by 21% as investors poured a net $108.3 million into the fund, the most since its inception roughly five years ago, according to data compiled by Bloomberg. It gained an additional $69 million on June 9, good for the second-biggest inflow ever. On the flip side, State Street’s $4.47 billion SPDR Bloomberg Barclays Convertible Securities ETF (ticker CWB) suffered an outflow of $107.6 million on June 10, the largest daily withdrawal on record, followed by a $75 million exodus on June 11. That’s a stark contrast to the tens of billions of dollars flowing into credit ETFs.That seeming lack of interest is just fine for investors like Eli Pars, co-chief investment officer and head of alternative strategies at Calamos Advisors. The Naperville, Illinois-based firm is the largest public holder of convertible bonds issued in April by Carnival and Southwest Airlines, according to data compiled by Bloomberg.“It’s a great way to play the stock market in a less volatile way,” he said in a phone interview. While this is the common elevator pitch for investing in convertibles, the securities backed up that claim during March’s turbulence by tumbling less than benchmark equity indexes. That’s because investors can always fall back on interest payments if equity prices fall while capitalizing on a rally because the value of the option to convert to shares increases as well.Pars says convertibles are compelling for those with significant equity holdings who want to dial back their risk a bit after the sharp rebound in the past three months, or for those who sat out the entire rally and want some protection from a reversal. It’s a safer bet than simply taking short positions on the S&P; 500; Bloomberg News’s Cameron Crise calculated that speculators have ratcheted up their bets against the index to the most extreme level since 2011.In some ways, the new band of Robinhood traders plays right into the hands of investors like Pars. He manages the $9 billion Calamos Market Neutral Income Fund, which partly employs a strategy known as convertible arbitrage. The trade involves buying and holding the convertible bond while hedging with a short position in the common stock, in theory generating a nearly riskless profit from price discrepancies between the two assets. That’s more likely to happen when there’s added volatility — and especially when the fluctuations seemingly come out of nowhere. “It’s one thing when you have volatility driven by real fundamentals,” Pars says. “When you have more noise volatility, that’s perfect for an arb.”With so much uncertainty surrounding how quickly states can emerge from lockdowns, and just how quickly Americans will travel the way they used to, even modest downside protection, like the 1.25% interest rate on Southwest Airlines’s convertible securities, can be a comfort for investors. That could wind up being a better yield than similar maturity Treasuries over the next five years, given that it’s anyone’s guess whether the Federal Reserve will have raised short-term interest rates from near-zero by then.These are the prudent — albeit less entertaining — calculations that professional investors are paid to think about. There’s still a large divide between the newbie traders who fly in and out of stock and ETF positions on a whim thanks to no-fee trading, and Wall Street denizens who scrutinize market segments mostly out of reach of Robinhood. The former are best thought of like shares of Hertz, surging 682% in the span of days but now sputtering toward zero again.Convertible bonds, by contrast, have delivered average annual returns of 9% or higher over three-, five-, 10- and 15-year horizons. It stands to reason they’ll keep doing so long after the legions of bored traders find a new hobby.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Brian Chappatta is a Bloomberg Opinion columnist covering debt markets. He previously covered bonds for Bloomberg News. He is also a CFA charterholder.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- 06/23/2020
|
SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Carnival Corporation & Plc of a Class Action Lawsuit and a Lead Plaintiff Deadline of July 27, 2020 - CCL
- New York, New York--(Newsfile Corp. - June 22, 2020) - The following statement is being issued by Levi & Korsinsky, LLP:To: All persons or entities who purchased or otherwise acquired securities of Carnival Corporation & Plc (NYSE: CCL) ("Carnival") between September 26, 2019 and May 1, 2020. You are hereby notified that a securities class action lawsuit has been commenced in the the United States District Court for the Southern District of Florida. To ...
- 06/23/2020
|
ROSEN, A LEADING NATIONAL FIRM, Reminds Carnival Corporation & Plc Investors of Important July 27 Deadline in Securities Class Action - CCL, CUK
- Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Carnival Corporation & Plc (NYSE: CCL, CUK) between January 28, 2020 and May 1, 2020, inclusive (the "Class Period") of the important July 27, 2020 deadline in the securities class action. The lawsuit seeks to recover damages for Carnival investors under the federal securities laws.
- 06/22/2020
|
Carnival extends operations pause as cruise industry troubles persist
- The cruise line, owned by Carnival Corp, had previously said it would resume some voyages on Aug. 1. Industry trade group Cruise Lines International Association (CLIA) said on Friday its ocean-going cruise line members, which include Carnival, Royal Caribbean Cruises Ltd, and Norwegian Cruise Line Holdings Ltd, would voluntarily extend their pause in operations from U.S. ports until Sept. 15.
- 06/22/2020
|
Here’s the secret sauce to handle the stock market’s election and virus fears
- Proper risk management — of which there are at least 12 examples — should be high on investors’ list.
- 06/22/2020
|
Top Consumer Discretionary Stocks for June 2020
- These are the consumer discretionary stocks with the best value, fastest growth, and most momentum for June 2020.
- 05/27/2020
|
