|Bid||1,441.00 x 0|
|Ask||1,442.50 x 0|
|Day's range||1,226.55 - 1,457.98|
|52-week range||581.00 - 4,079.00|
|Beta (5Y monthly)||1.39|
|PE ratio (TTM)||3.31|
|Earnings date||18 Jun 2020 - 22 Jun 2020|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||20 Feb 2020|
|1y target est||68.94|
The Carnival share price and the TUI share price have shown impressive increases in the past weeks. But are they good long-term investments?The post Both the Carnival share price and the TUI share price are on a tear! Here's what I'm doing now appeared first on The Motley Fool UK.
After nailing the market's recovery, Fundstrat's Tom Lee is predicting hard hit stocks can carry the S&P 500 to new highs.
Cruise ship stocks surged on Friday after a surprising jobs report boosted investors' hopes for a faster-than-expected economic recovery. As of 1:30 p.m. EDT, shares of Carnival (NYSE: CCL), Royal Caribbean (NYSE: RCL), and Norwegian Cruise Line Holdings (NYSE: NCLH) were all up more than 20%. The U.S. economy added 2.5 million jobs in May, according to the Labor Department, which brought the unemployment rate down to 13.3%.
(Bloomberg) -- Government money aimed at helping companies weather the coronavirus is going to enterprises controlled by some of the world’s richest tycoons, according to data released Thursday by the Bank of England.A number of firms owned by billionaires are tapping an emergency funding program backed by taxpayers, even as businesses great and small struggle to reopen. The initiative, called the Covid Corporate Financing Facility, is one of many the government and its central bank have unveiled to support companies that employ millions of workers and play a key role in the economy.The companies include Chanel, the legendary fragrance and fashion house controlled by brothers Gerard and Alain Wertheimer. Their clan has a combined net worth of $56 billion, according to the Bloomberg Billionaires Index. Chanel received 600 million pounds ($760 million) in loans from the initiative, which started in March and is financed from the BOE’s reserves.Another recipient is the enterprise that oversees the stadium for premier league soccer team Tottenham Hotspur, in London. It received 175 million pounds in funding and is controlled by Joe Lewis, a billionaire businessman and onetime currency trader who lives in the Bahamas.Truck maker CNH Industrial NV, linked to the business empire of Italy’s billionaire Agnelli family, sought 600 million pounds. Carnival Plc, the Miami-based cruise ship operator whose vessels became hotbeds of coronavirus infections, signed on for 25 million pounds. Its chairman is Micky Arison, who also owns the Miami Heat professional basketball team and is worth $9 billion.And JCB, a construction group owned by the billionaire Bamford family, received 600 million pounds. Chief Executive Officer Graeme MacDonald told the Telegraph newspaper the company hoped not to draw on any of the facility and viewed it as an “insurance policy” against further disruption.The roster may increase scrutiny of companies that are availing themselves of state aid -- even though they appear to have owners with ample resources of their own.“It is absolutely right that the Bank of England supports companies in order to save jobs and protect livelihoods, but I’m appalled that so many billionaire-owned businesses are being financed by the taxpayer,” said Margaret Hodge, a member of Parliament for the opposition Labour Party. “It’s high time that the mega-wealthy reach into their own pockets rather than the public purse.”Hodge, a former chair of the Public Accounts Committee, said her concerns run deeper than billionaire-controlled companies. She said the government must ensure firms that cut corners or use financial engineering to avoid big tax bills don’t take advantage of public support. In a June 3 letter, Hodge urged Rishi Sunak, Britain’s finance minister, to prevent companies with poor tax compliance records from receiving bailout funds.Tottenham Hotspur said in a statement on its website that it will lose 200 million pounds from the lockdown, and will use the funding to meet working capital needs. As for Carnival, a spokeswoman said the company contributes more than 2 million pounds to the U.K. economy every time its ships dock in the country, which happens 250 times a year.A spokeswoman for CNH Industrial pointed to a press release from April 29, in which the company said using the facility demonstrates its efforts to preserve a sound level of liquidity during the crisis. A spokesman for Chanel, which has 1,600 employees in the U.K., said the company closed all its boutiques in the country during the lockdown and will repay the loan within 12 months.Under the CCFF, the BOE purchases commercial paper, with maturity of up to a year, issued by large firms making a “material contribution” to the U.K. economy. So far it’s provided companies with 16.2 billion pounds of funding. The CCFF is “directly protecting hundreds of thousands of jobs and supporting some of our biggest companies’ cashflows,” a Treasury spokesman said on June 5.The effort operates in tandem with a suite of government-backed lending programs for smaller companies. While lawmakers and business groups have criticized the initiatives as slow and cumbersome, commercial banks have approved 31.3 billion pounds of partially and fully state-guaranteed loans to more than 745,000 companies since late March, according to the Treasury. The government has also provided 10 billion pounds in grants to 800,000 firms, deferred tax bills, and scrapped business tax rates.Burberry Group Plc, Marks & Spencer Group Plc and Rolls-Royce Holdings Plc were among the British businesses to draw on the CCFF facility, the central bank said. But the biggest recipient is Germany’s BASF SE, the chemicals giant. It withdrew 1 billion pounds, the maximum allowed under the program.(An earlier version of this story corrected Carnival’s contribution to the U.K. economy.)(Adds Treasury statement and government data on business support in 12th and 13th paragraphs)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.
Over the last months, huge efforts have been made worldwide to stem the spread of the coronavirus. Travel in Europe is slowly restarting. In expectation of a normalisation of tourism, AIDA Cruises is working intensively on detailed plans for a speedy restart.
Carnival and IAG shares have plummeted as a result of the stock market crash and the outbreak of Covid-19, but are they now too cheap to ignore?The post Could Carnival and IAG shares be the FTSE 100 bargains of the year? appeared first on The Motley Fool UK.
Glancy Prongay & Murray LLP Announces the Filing of a Securities Class Action on Behalf of Carnival Corporation (CCL) Investors
Of particular interest to investors betting on the economy's recovery, shares of cruise lines Carnival (NYSE: CCL) and Norwegian Cruise Line Holdings (NYSE: NCLH) ended up 7.1% and 9%, respectively. Broadly speaking, these kinds of companies are representative of the health of the travel industry and of discretionary consumer spending, which have both been hit especially hard by the COVID-19 pandemic. When governments tell people to stay at home for months on end, that's not great news for travel businesses, either.
INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Carnival Corporation (CCL) Investors
The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired Carnival Corporation ("Carnival" or the "Company") (NYSE: CCL) securities between January 1, 2020 and May 01, 2020, inclusive (the "Class Period"). Carnival investors have until July 27, 2020 to file a lead plaintiff motion.
After being downgraded to junk status in May, Royal Caribbean scrambles to raise as much money as it can.
Glancy Prongay & Murray LLP, a National Class Action Law Firm, Announces Investigation of Carnival Corporation (CCL) on Behalf of Investors
A dry-docked Royal Caribbean Cruises (NYSE: RCL) is heading back to the debt markets to raise cash and boost its liquidity during the COVID-19 pandemic. The cruise ship operator is raising an additional $2 billion in bonds and convertible notes less than one month after it sold over $3 billion in senior secured notes at high interest rates. To attract investors, it gave them priority interest in entities that owned 28 of its cruise ships, putting them second in line to collect if Royal Caribbean ran aground.
The Law Offices of Frank R. Cruz announces an investigation on behalf of Carnival Corporation ("Carnival" or the "Company") (NYSE: CCL) investors concerning the Company and its officers’ possible violations of federal securities laws.
INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation of Carnival Corporation (CCL) on Behalf of Investors
There are a lot of reasons for investors to be worried, but the stock market doesn't seem to be paying much attention to them. Cruise ship operators remain among the industries most affected by the coronavirus pandemic, and they've experienced some of the largest rebounds over the past couple of months. Stocks in the sector were higher, with Norwegian Cruise Line Holdings (NYSE: NCLH) leading the way with a 7% rise.
Morgan Stanley downgrades one cruise line stock and offers up uninspiring outlooks for the other two major players. It doesn't have to play out that way.
Because many ports of call globally have yet to reopen or have extended closure orders still in place, the Princess Cruises brand of cruise ship operator Carnival Cruise Line (NYSE: CCL) announced it was extending its "no sail" policy to a number of voyages in various countries. According to the Carnival cruise line, guests who paid their fare in full can get a refund, or they can receive refundable "future cruise credit," or FCC, that is equal to the full amount of the fare plus an additional non-refundable FCC equal to 25% of the cruise fare. Guests who haven't paid their fare in full can also receive a refund, or they can choose to get a refundable FCC that matches their deposit plus a non-refundable FCC that effectively doubles the amount of deposit and can be used toward any cruise through May 1, 2022.
Carnival has been forced to borrow billions of dollars under unfavorable terms, and it has no clear date for the resumption of normal operations. Carnival plans to have eight ships operating in August. Is it all bad news for Carnival?
A daily overview of the top business, market, and economic stories to watch in the UK, Europe, and abroad.
Cruise lines, hammered by a crisis which has seen some ships develop into high-profile infection hotspots, in recent days have been steadily pushing back cancellations well into the second half of 2020. Princess Cruises, long a favourite of older travellers, said it has extended the delay of operations on all cruises sailing in and out of Australia through mid-September on the Sea Princess, Majestic Princess, Sun Princess and Sapphire Princess.
(Bloomberg) -- The coronavirus pandemic is hitting Gulf Arab economies hard and emboldening the region’s dynastic rulers to push through unpopular fiscal measures that will impact their citizens. The question now is how long their resolve will last.Saudi Arabia, the biggest Arab economy, tripled its value-added tax and trimmed allowances for government workers. Oman cut salaries of new state employees.Even in the United Arab Emirates -- a financial and commercial hub with the Gulf’s most diversified economy -- there are calls for overhauling a so-called “rentier state” model, which depends on hydrocarbon wealth to support government jobs for citizens, generous benefits and a largely tax-free environment. A prominent Emirati lawyer recently called introducing corporate tax “unavoidable.”Yet for all the talk of accelerating overdue changes, there were also moves to protect state jobs and shield nationals employed in the private sector, casting doubt on whether the downturn will prompt deeper reforms that outlive the crisis.“The global economic recession has become a trigger for real reconsideration of the fundamentals of the economic models in the Gulf,” said Ayham Kamel, head of Middle East and North Africa at Eurasia Group. “In Saudi, Crown Prince Mohammad bin Salman wants change, but it’s far from easy to kill off the rentier-state model.”Austerity will affect Saudis like Mohammed, who works for the state, like almost two-thirds of his compatriots. When his pay was cut by 1,000 riyals ($266) a month after a cost-of-living allowance was canceled, the 29-year-old doctor said the measures were necessary. But he also hopes they’ll be reversed later, like they were in past crises.“If it’s temporary, one or two years, I can adapt,” he said, asking to withhold his full name. “My concern is that more taxes will be permanent — and that will be an issue.”Thrift may be in place for longer this time given the fiscal outlook. And with less money to spend on citizens, governments could face increased public scrutiny of how their oil wealth is used.In an unusual move for Saudi Arabia’s state-friendly media, local newspaper Okaz recently published two columns questioning the policy changes.“Citizens worry that the pressure on their living standards will outlast the current crisis,” wrote columnist Khalid Al-Sulaiman. “Increasing VAT from 5% to 15% will have a big effect on society’s purchasing power and will reflect negatively on the economy in the long term.”Fiscal WoesAlmost all the countries in the region are expected to run budget shortfalls of 15%-25% of economic output, leading to a build-up of debt, dwindling reserves, and tough choices. Saudi Arabia’s economy is forecast to contract by 2.9% this year, the most since 1999, according to Bloomberg Economics, with risks of an even deeper downturn.Saudi officials had been trying to reduce dependence on oil and trim the wage bill long before the epidemic; both are goals of the “Vision 2030” plan championed by the crown prince. The kingdom’s de-facto ruler has pushed through big changes since late 2015, though some were rescinded or softened after public blowback. Simultaneously, he’s cracked down on dissent, stifling criticism. The crisis could be an opportunity to intensify the transformation, particularly when nationalism is running high.Others around the region are following suit.“We will have a lot of questions about what constitutes a Gulf rentier-state model,” UAE Minister of State Anwar Gargash said on a panel last month. “I think this is going to accelerate the necessity for us to find something a little bit more sustainable.”In Kuwait, ruler Sheikh Sabah Al-Ahmed Al-Sabah renewed a call for an economy less reliant on oil and urged rationalizing spending. His son, who sits on the planning & development council, lamented a lack of progress and said the impact of the pandemic might make such changes unavoidable.Saudi Arabia’s decisions are worth emulating, said Eid Alshihri, a 42-year-old business consultant and a member of the Kuwaiti Entrepreneurs Society. But reforms are caught up in a political struggle with Kuwaiti lawmakers, who are blocking them for fear of losing seats and instead point to the sovereign wealth fund as a possible source of money to help weather the crisis.Government steps to help businesses were too little, too late, and the result will be the opposite of diversification, Alshihri said. “Many will shut down and apply for government jobs.”While some in Saudi Arabia say they’re happy to assume part of the burden, others are frustrated. Complaints could increase as the impact of the crisis sinks in; the higher VAT starts in July.The government has already stirred controversy by continuing to spend elsewhere. Officials say the sovereign wealth fund is seizing an opportunity to take advantage of market turmoil, building stakes in companies including Carnival Corp., Boeing Co. and Facebook Inc.“Why are they investing abroad so much and so impulsively, while investment in the people and their minds is so weak?” said Talal, a 23-year-old accountant, whose company cut his monthly salary by 600 riyals when the pandemic struck. “Officials say that there’s growth and there’s revenue and blah, blah — where did that go?”(Updates with remark from lawyer in third paragraph, additional quotes from Saudis starting in 10th)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.