What's Going On With Royal Caribbean Stock Monday?
Portfolio Pulse from Erica Kollmann
Royal Caribbean Cruises (RCL) shares are trading lower on Monday after Carnival Corp. (CCL) reported Q2 earnings. Despite beating consensus estimates, Carnival stock is trading over 11% lower, affecting Royal Caribbean's stock.
June 26, 2023 | 3:31 pm
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NEGATIVE IMPACT
Carnival Corp. reported Q2 earnings that beat consensus estimates, but its stock is trading over 11% lower. The company reported positive operating income for the first time since resuming guest cruise operations.
Carnival's Q2 earnings report beat consensus estimates, but its stock is trading over 11% lower. This is likely due to concerns about the overall cruise industry and the impact of the ongoing pandemic on future operations. Despite the positive operating income, investors may be reacting negatively to the uncertainty surrounding the industry.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Royal Caribbean's stock is trading over 2% lower in sympathy with Carnival's Q2 earnings report, which beat estimates but led to an 11% drop in Carnival's stock.
Royal Caribbean's stock is being negatively impacted by Carnival's Q2 earnings report, which beat estimates but led to an 11% drop in Carnival's stock. This is causing a sympathy effect on Royal Caribbean's stock, leading to a decline in its share price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80