Carnival (CCL) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.
Bad news: Late-breaking reports that the omicron variant of COVID-19 had arrived on U.S. shores shook up cruise line investors on Wednesday, sending shares of Carnival (NYSE: CUK) (NYSE: CCL), Royal Caribbean (NYSE: RCL), and Norwegian Cruise Line Holdings (NYSE: NCLH) tumbling after what had initially looked like it was going to be a "green" sort of a day. Good news: As the shock wears off, all three cruise line stocks are recovering today.
The choppy seas for cruise line investors continued on Wednesday, as shares of Royal Caribbean (NYSE: RCL) and Norwegian Cruise Line Holdings (NYSE: NCLH), and most especially Carnival Corporation (NYSE: CCL) (NYSE: CUK), which were down yesterday, bounced back today. As of 10:50 a.m. ET, shares of both Royal Caribbean and Norwegian Cruise are gaining 3%, while Carnival is leading the pack higher with a 3.8% gain.