We use cookies to improve user experience, and analyze website traffic.
For these reasons, we may share your site usage data with our analytics partners. By clicking "Accept Cookies" you consent to store on your device all the technologies described in our Cookie Policy.
Citi analyst James Hardiman raised the firm's price target on Carnival to $13 from $9 and keeps a Neutral rating on the shares. Citi's most recent work on the cruise industry points to steady improvement in late-2022 and a positive start to 2023, the analyst tells investors in a research note. Royal Caribbean remains the firm's favorite name in the group given its "most compelling balance of pricing and cost controls." That said, Citi thinks cruise stocks as a group have graduated from "proxy trades" to "compelling long-term investment narratives." The post-pandemic momentum of the cruise space "clearly outweighs" potential macro headwinds in 2023, with budding Asian and European narratives building into 2024, contends the analyst.
Bullish option flow detected in Carnival with 23,208 calls trading, 1.5x expected, and implied vol increasing over 3 points to 54.93%. Jul-23 14 calls and 2/3 weekly 11 puts are the most active options, with total volume in those strikes near 14,800 contracts. The Put/Call Ratio is 0.64. Earnings are expected on March 22nd.
Salesforce (CRM) announced, as part of its ongoing board refreshment process, the following appointments to the company's board of directors, effective March 1: Arnold Donald, former president and CEO of Carnival Corporation (CCL); Sachin Mehra, CFO of Mastercard (MA) and Mason Morfit, CEO and chief investment officer of ValueAct Capital In addition, Sanford Robertson and Alan Hassenfeld have notified the company that they do not intend to stand for re-election at Salesforce's 2023 Annual Meeting of Stockholders.
Bearish flow noted in Carnival with 63,101 puts trading, or 1.6x expected. Most active are Jul-23 6 puts and Jan-23 11 calls, with total volume in those strikes near 20,300 contracts. The Put/Call Ratio is 1.65, while ATM IV is up over 1 point on the day. Earnings are expected on March 22nd.
Carnival Cannounced an agreement for the next-generation of internet connectivity across its global fleet, the latest in a series of moves that have nearly tripled ship bandwidth since 2019. The company has signed a new agreement with SpaceX's Starlink to provide faster service, greater capacity and more reliable Wi-Fi on a global scale, the company said in a statement. Fleet roll-out of Starlink began in December 2022 with Carnival Cruise Line and AIDA Cruises ships, with plans to expand Starlink to several of the company's othercruise brands, which include Princess Cruises, Holland America Line, Seabourn, P&O Cruises, Costa Cruises, P&O Cruises and Cunard.
Carnival Corporation & plc (CCL) announced that Richard J. Glasier has decided he will not stand for re-election to the Boards of Directors of Carnival Corporation and Carnival plc at the 2023 Annual Meetings of Shareholders in April 2023. Glasier has served as independent director on the companies' Boards since 2004. Glasier's decision follows the previously announced addition to the Boards of new member Sara Mathew, retired Chair, President, and CEO of Dun & Bradstreet (DNB), and the retirements of long-time Board member and former President and CEO Arnold Donald and Board member Sir John Parker. With today's announcement, Carnival Corporation & plc's Boards will be comprised of eleven members as of April, nine of whom are independent directors, four of whom are female and one of whom is ethnically diverse.
Argus analyst John Staszak keeps his Neutral rating on Carnival and also lowers his FY23 EPS view by 20c to 30c. The company is expected to continue to face high fuel costs in FY23, with debt and interest expense also set to increase amid higher capital spending, the analyst tells investors in a research note. Staszak adds that Carnival shares are fully valued at current levels, though he would consider returning the stock to his Buy list if the cruise demand recovers sooner than he anticipates.
Carnival Cruise Line announced that chef and restauranteur Emeril Lagasse will serve as its Chief Culinary Officer. A restaurant concept created by Lagasse, Emeril's Bistro, is already popular on two of Carnival's ships, Mardi Gras and Carnival Celebration, and now the chef's culinary talents will be utilized fleetwide. In conjunction with this announcement, Carnival also announced that Carnival Jubilee will also feature an Emeril's Bistro when it arrives in Galveston, Tex. in December 2023.
