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Carnival (CCL) Suspends Additional Cruises Through Early 2021
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Carnival Corporation & Plc (CCL - Free Report) recently extended the suspension of additional cruises for the first part of 2021. Following the news, the company’s shares have declined 2.3% on Nov 18. Notably, the company’s shares have tanked 65.4% year to date, compared with the industry’s decline of 33.7%.
The company has cancelled all embarkations from the United States home ports through Jan 31, 2021. Moreover, Baltimore, Charleston, Jacksonville, Long Beach, Mobile, New Orleans and San Diego embarkations have been cancelled through Feb 28 and embarkations on Carnival Legend out of Tampa through March 26.
The company will gradually resume guest operations in phased manner. The company will initially focus on Miami and Port Canaveral to resume operations followed by Galveston. Management stated that 16 Carnival cruises, including Conquest, Dream, Ecstasy, Elation, Freedom, Glory, Liberty, Miracle, Panorama, Pride, Sensation, Sunrise, Sunshine and Vista are currently following the CDC process for recommencement of guest service in the United States in 2021.
Christine Duffy, president of Carnival Cruise Line said “We are committed to meeting the CDC requirements and keeping our guests and business partners informed of our progress.”
Bookings Hurt By Pandemic
Bookings for 2020 have been significantly impacted by the coronavirus pandemic. The company stated that cumulative advanced bookings for second half of 2021 capacity currently available for sale are at the higher end of the historical range. However, pricing on these bookings are down by mid-single digits compared with the second half of 2019 on a comparable basis. This reflects the effect of future cruise credits from previously-cancelled cruises being applied.
Carnival — which shares space with Norwegian Cruise Line Holdings Ltd. (NCLH - Free Report) and Royal Caribbean Cruises Ltd. (RCL - Free Report) — has a Zacks Rank #4 (Sell) at present.
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
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Carnival (CCL) Suspends Additional Cruises Through Early 2021
Carnival Corporation & Plc (CCL - Free Report) recently extended the suspension of additional cruises for the first part of 2021. Following the news, the company’s shares have declined 2.3% on Nov 18. Notably, the company’s shares have tanked 65.4% year to date, compared with the industry’s decline of 33.7%.
The company has cancelled all embarkations from the United States home ports through Jan 31, 2021. Moreover, Baltimore, Charleston, Jacksonville, Long Beach, Mobile, New Orleans and San Diego embarkations have been cancelled through Feb 28 and embarkations on Carnival Legend out of Tampa through March 26.
The company will gradually resume guest operations in phased manner. The company will initially focus on Miami and Port Canaveral to resume operations followed by Galveston. Management stated that 16 Carnival cruises, including Conquest, Dream, Ecstasy, Elation, Freedom, Glory, Liberty, Miracle, Panorama, Pride, Sensation, Sunrise, Sunshine and Vista are currently following the CDC process for recommencement of guest service in the United States in 2021.
Christine Duffy, president of Carnival Cruise Line said “We are committed to meeting the CDC requirements and keeping our guests and business partners informed of our progress.”
Bookings Hurt By Pandemic
Bookings for 2020 have been significantly impacted by the coronavirus pandemic. The company stated that cumulative advanced bookings for second half of 2021 capacity currently available for sale are at the higher end of the historical range. However, pricing on these bookings are down by mid-single digits compared with the second half of 2019 on a comparable basis. This reflects the effect of future cruise credits from previously-cancelled cruises being applied.
Carnival — which shares space with Norwegian Cruise Line Holdings Ltd. (NCLH - Free Report) and Royal Caribbean Cruises Ltd. (RCL - Free Report) — has a Zacks Rank #4 (Sell) at present.
A Key Pick
A better-ranked stock worth considering in the same space is Pool Corporation (POOL - Free Report) , which carries a Zacks Rank #2 (Buy). Shares of the companhy have gained 39.7% in the past six months. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>