Morgan Stanley analyst Jamie Rollo said his survey of U.S. travel agents shows a weakening picture and his web research shows mixed results for the cruiselines. On the negative side, overall pricing is described as flat, the impact of Kilauea has affected Hawaii bookings, and many agents cite concerns about the Caribbean and general Q4 demand, Rollo tells investors. The analyst, who also said recent strength in oil prices and the U.S. dollar "are a double negative for cruise stocks," cut his FY19 EPS estimate for Carnival (CCL) by 11%, his estimate for Norwegian Cruise Line (NCLH) by 5% and his Royal Caribbean (RCL) estimate by 3%. Rollo lowered his price target on Carnival shares to $63 from $70, his target on Norwegian to $58 from $64 and his target on Royal Caribbean to $110 from $130.

Check out this morning's top movers from around Wall Street, compiled by The Fly.  UP AFTER EARNINGS... To see the rest of the story go to thefly.com. See Story Here

Sees Q2 fuel consumption 416,000 metric tons.

Reports Q1 revenue $3.7B, consensus $3.69B. Load factors in the first quarter were 107%. "Wow, what a great start to the year! Demand for our leading brands and the incredible experiences they deliver continues to be very robust, resulting in outperformance in the first quarter, a further increase of full year earnings guidance, and 60% expected earnings growth year over year," said Jason Liberty, president and CEO, Royal Caribbean Group. "Building on this momentum, we expect to achieve all our Trifecta financial goals in 2024, which allows us to focus on a new era of growth to drive long-term shareholder returns and take a greater share of the rapidly growing $1.9 trillion global vacation market."

Notable companies reporting before tomorrow's open, with earnings consensus, include Merck (MRK), consensus $1.87... Caterpillar (CAT), consensus $5.14... Comcast (CMSCA), consensus 99c... Honeywell (HON), consensus $2.17... Bristol-Myers (BMY), consensus ($4.44)... Altria (MO), consensus $1.15... Keurig Dr. Pepper (KDP), consensus 35c... GE Vernova (GEV), consensus (37c)... Royal Caribbean (RCL), consensus $1.33... Tractor Supply (TSCO), consensus $1.72... Mobileye (MBLY), consensus (6c)... Textron (TXT), consensus $1.23... LabCorp (LH), consensus $3.48... Southwest Airlines (LUV), consensus (34c)... American Airlines (AAL), consensus (29c)... Harley-Davidson (HOG), consensus $1.51.