Investors may see Carnival Cruise Line’s decidedly unremarkable stock performance and figure the entire cruise industry is in trouble.
In this entry of the series, we look at three spectacular successes.
Airlines say domestic leisure travel is back to pre-pandemic levels, but international travel and business trips both remain sharply lower than in 2019.
Company chart and information is provided by TradingView based on 15-minute-delayed data.
Carnival is the largest global cruise company, set to deploy 88 ships on the seas once cruising fully resumes after the pandemic. 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, prior to COVID-19.
| Website: | www.carnivalcorp.com |
| Email: | rfrizzell@carnival.com |
| Main Phone: | +1 305 599-2600 |
| Address: | 3655 N.W. 87th Avenue |
| State: | FL |
| City / Town: | Miami |
| Country: | US |
| Postal Code: | 33178-2428 |
| Exchange: | NYE |
| CEO: | Arnold W. Donald |
| Employees: | 70000 |
| NAICS: | Scenic and Sightseeing Transportation, Land(487110) |
Investors may see Carnival Cruise Line’s decidedly unremarkable stock performance and figure the entire cruise industry is in trouble.
In this entry of the series, we look at three spectacular successes.
Airlines say domestic leisure travel is back to pre-pandemic levels, but international travel and business trips both remain sharply lower than in 2019.
Norwegian says the state's ban on businesses requiring proof of vaccination "poses imminent, substantial, irreparable harms” to its operations.
Declines in the shares of companies tied to the reopening trade have broadly outpaced those of other so-called value stocks.
Dow Industrials added 1.1%, and the Russell 2000 jumped 1.9%.
The Cruise Lines International Association (CLIA) said its members will use the remainder of the year to prepare for the implementation of measures to address COVID-19 safety issues.
Major cruise lines say they will test all passengers and crew for COVID-19 prior to boarding and require passengers and crew to wear masks while onboard whenever physical distancing can’t be maintained.
The S&P 500 lost 3.5%, Dow Industrials fell 2.8%, the Nasdaq composite plunged 5% and the Russell 2000 dropped 3%.
Wall Street’s recent rally hit a snag Wednesday as new coronavirus cases in the U.S. climbed to the highest level in two months, dimming investors’ hopes for a relatively quick economic turnaround.
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