Carnival Corporation: We Don’t See Middle Class Malaise, Stock Pops 8%
Cruise lines Carnival Corporation (NYSE:CCL) shares are steadily gaining after topping earnings estimates and announcing pricing power. Rival Royal Caribbean Cruises (NYSE:RCL) shares are joining the celebration. This after talk the industry is in a slow down and the Wall Street Journal saying a “middle-class malaise” will continue to hurt cruise operators. Go figure.
Carnival’s stock (NYSE:CCL) is up 7.9% to $34.79 on the news. Shares are down 25.35% year to date. The stock has traded in a 52-week range between $28.96 and $48.14.
Rival Royal Caribbean (NYSE:RCL) stock is up 5.89% to $25.70 on the news. Shares are down 45.32% year to date. The stock has traded in a 52-week range between $22.27 and $49.99.