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Cruise Industry Reinvents Itself With Trips to Nowhere

  • Cruise Industry Reinvents Itself With Trips to Nowhere Cruise Industry Reinvents Itself With Trips to Nowhere 7:16
    'Selling Uncertainty:' Hotels Grapple With Restrictions, Tourism Decline 'Selling Uncertainty:' Hotels Grapple With Restrictions, Tourism Decline 5:02
    3 major changes in the hotel industry due to COVID-19 3 major changes in the hotel industry due to COVID-19 3:50
    To Fly Again: Show Your Digital Health Passport To Fly Again: Show Your Digital Health Passport 5:32
9:29 a.m. Dec. 8, 2021 - By Tomi Kilgore
Carnival stock surges on NYSE leading volume, flirts briefly with bull-market bounceShares of Carnival Corp. shot up 5.8% to $19.57 in afternoon trading on heavy volume, as the cruise operator briefly flirted with a bull-market bounce off last week's 13-month low. Trading volume swelled to 57.1 million shares, enough to make the cruise operator's stock the most actively traded on the NYSE, and compared with the full-day average of about 39.4 million shares. The stock ran up as much as 8.3% to an intraday higher of $20.04 earlier in the session before paring gains. At that high, the stock had soared 22.3% since closing Dec. 1 at $16.38, which was the lowest closing price since Nov. 13, 2020. Many on Wall Street believe a bull market is defined by a rally of 20% or more on a closing basis off a bear-market low. The stock would have to close above $19.66 to make the bull market on those terms "official." Among other cruise operators, shares of Norwegian Cruise Line Holdings Ltd. jumped 8.2% to trade 22.4% above its Dec. 1 13-month low of $17.79 and Royal Caribbean Corp. hiked up 4.9% to trade 16.9% above its Dec. 1 13-month closing low of $64.27. Meanwhile, the S&P 500 has gained 4.0% off its Dec. 1, seven-week closing low.
7:11 a.m. Dec. 6, 2021 - By Tomi Kilgore
Cruise stocks help lead S&P 500 gainers, with biggest gains this yearShares of cruise operators shot up on Monday toward their best gains in months, as regarding the severity of the omicron variant assuaged investor fears over possible new COVID restrictions. Norwegian Cruise Line Holdings Ltd.'s stock ran up 11.0%, enough to make it the biggest gainer among S&P 500 components, and putting it on track for the biggest one-day gain Nov. 9, 2020, when it rocketed 26.8%. Elsewhere, Carnival Corp. shares were the S&P 500's third-best performers, hiking up 9.7% toward the best day since Nov. 16. And Royal Caribbean Corp.'s stock rallied 9.6%, and was the fourth biggest S&P 500 gainer; it was headed for the biggest gain since Feb. 16. The stocks' rallies come after they all closed at 13-month lows on Dec. 1. In comparison, the S&P 500 was rising 1.0%.
8:29 a.m. Nov. 29, 2021 - By Tomi Kilgore
Cruise stocks bounce, but only slightly after omicron-related drubbing on FridayCruise stocks rose Monday, as part of a broad-market bounce following the on fears over potential impact of omicron variant of coronavirus that causes COVID-19. The stocks' gains were relatively slight, however, considering the deep declines suffered in recent weeks amid worries that the would lead to travel bans. Royal Caribbean Group's stock rose 3.3% in afternoon trading, after tumbling 11.4% on Friday to a nine-month closing low. The cruise operator's stock had plunged 30.6% as it lost ground in 12 of the 14 trading days since it closed at a five-month high on Nov. 5 through Friday. Carnival Corp. shares tacked on 1.1% on Monday, after dropping 11.0% on Friday to close at a one-year low. The shares had been pummeled for a 27.6% loss as they dropped in 13 of 14 sessions from the Nov. 5 close through Friday. Norwegian Cruise Line Holdings Ltd.'s stock gained 0.8% on Monday, after diving 11.4% on Friday to close at a one-year low. The stock had plummeted 30.6% as it fell in 12 of 14 sessions from Nov. 5 through Friday. Meanwhile, the S&P 500 gained 1.6% after ; it had slipped 2.2% from Nov. 5 through Friday.
2:51 a.m. Nov. 29, 2021 - By Tomi Kilgore
Hyatt Hotels stock jumps after J.P. Morgan turns bullish, saying discount to Marriott, Hilton is too wideShares of Hyatt Hotels Corp. bounced 2.5% in premarket trading Monday, after the hotel operator was upgraded at J.P. Morgan, citing improved valuation after the recent selloff. The stock dropped 5.7% on Friday, amid fears that the omicron variant of the COVID-19 virus would lead to reduced leisure travel, and has tumbled 14.6% since closing at a 21-month high of $91.50 on Nov. 5. Analyst Joseph Greff raised his rating to overweight after being at neutral for at least nearly three years, while raising his stock price target to $101 from $90. Greff said Hyatt's stock has underperformed its peers over the past year, but he thinks "this can turn around" as Hyatt migrates to "a less capital-intensive, more fee-generative and a more leisure-focused business" following the company's . "We think the current environment is ripe for [Hyatt] to optimize the value of its owned hotels, particularly leisure focused ones, and we don't see this changing in the near to medium term," Greff wrote in a note to clients. "Lastly, we look at [Hyatt's] relative valuation as attractive versus [Hilton] and [Marriott], and while we believe it should trade at some discount, we'd argue the discount is too wide." Hyatt's stock has gained 5.2% year to date through Friday, while shares of Marriott International Inc. have rallied 22.4% and Hilton Worldwide Holdings Inc. have advanced 11.8%. The S&P 500 has climbed 22.3% this year.
11:35 p.m. Nov. 28, 2021 - By Barbara Kollmeyer
WHO warns of 'severe consequences' from omicron surges, urges widespread testingThe World Health Organization is urging countries to start widely testing in communities to gauge whether the new omicron variant is circulating, in it released on Sunday. "Given mutations that may confer immune escape potential and possibily transmissibility advantage, the likelihood of potential further spread of omicron at the global level is high. Depending on these characteristics, there could be future surges of COVID-19, which could have severe consequences, depending on a number of factors including where suges may take place. The overall global risk to the new VOC [variant of concern] omicron is assessed as very high." The body urged member states to not only start testing widely, but to accelerate vaccination coverage as fast as possible, espcially among high-risk individuals. Masks, distancing, ventilation of outdoor spaces and crowd avoidance are among the measures country should follow, as well as a risk-based approach to adjust international travel measures in a timely manner.
2:31 a.m. Nov. 26, 2021 - By Steve Gelsi
Drug maker stocks rise but travel stocks sink on new coronavirus variantShares of airlines fell and drug makers rose in premarket trades on Friday as investors reacted to fresh travel bans related to a new variant of the coronavirus that causes COVID-19 called B.1.1.529 identified in South Africa. Meanwhile, stocks relating to 'stay-at-home' activities gained. The British government has banned flights from South Africa and five other southern African countries. The World Health Organization's technical working group is meeting Friday to discuss the variant. Pfizer advanced by 5.8%, Moderna gained 8.7%, Southwest Airlines dropped 7%, American Airlines stock slumped 7%; Expedia fell 6.8% and United Airlines dropped 7.6%. Delta Air Lines lost 7.8%, Norwegian Cruise gave up 9.6% and Royal Caribbean shares slid 10%. Netflix rose 2%.Take-Two Interactive Software rose by 1%.
10:28 p.m. Nov. 25, 2021 - By Barbara Kollmeyer
European stocks slump with travel names hard hit as investors fret over new COVID variantEuropean stocks fell sharply early Friday, with heavy losses for travel stocks and energy names after a new potentially highly contagious variant of COVID was detected in South Africa. The Stoxx Europe 600 index slid 3.8% to 465, with the German DAX down 3.5%, the French CAC 40 sliding 4.3% and the FTSE 100 index down 3.4%. The U.K. has announced it will halt travel from South Africa and several other African countries as of Friday. Shares of International Consolidated Airlines slid 10%, cruise operator Carnival slumped 16% and Deutsche Lufthansa dropped 12%. Energy names also weighed heavily as crude fell more than 5% to $73.91 a barrel. BP shares fell 8%.
6:59 a.m. Nov. 25, 2021 - By Barbara Kollmeyer
EU proposes nine-month time limit on validity of COVID vaccinations for travelThe European Union has announced proposals that would put a nine-month time limit on COVID vaccinations for travelers in and out of the bloc. After that point, boosters would be required, the European Commission recommended, in a . "The 9-month period takes into account the guidance of the European Centre for Disease Prevention and Control (ECDC) on the administration of booster doses as of 6 months, and provides for an additional period of 3 months to ensure that national vaccination campaigns can adjust and citizens can have access to boosters," the statement said. Also on Thursday, the Commission from outside the EU, saying travel should reopen by Jan. 10 to those who have World Health Organization approved shots, but that an additional proof of negative PCR test will also be required.
1:24 a.m. Nov. 8, 2021 - By Tomi Kilgore
Marriott Vacations swings to Q3 profit that beats expectations, says current quarter 'has started well'Marriott Vacations Worldwide Corp. reported Monday that it swung to a third-quarter profit that beat expectations, while revenue rose in line with forecasts, as contract sales nearly tripled to reach within 3% of pre-pandemic 2019 levels. The vacation ownership company's stock was still inactive in premarket trading. Net income was $10 million, or 23 cents a share, after a loss of $62 million, or $1.51 a share, in the year-ago period. Excluding nonrecurring items, the company swung to adjusted earnings per share of $1.60 from a per-share loss of 81 cents, while the FactSet consensus was for EPS of $1.41. Total revenue grew 62.1% from a year ago to $1.05 billion, matching the FactSet consensus, while contract sales jumped 171.4% to $380 million, with first-time buyers representing 30% of contract sales. Average revenue per member increased 16.8% to $42.95. "The fourth quarter has started well with October contract sales above 2019 levels and reservations on the books for the first half of next year are already strong," said Chief Executive Stephen Weisz. The stock has rallied 18.3% over the past three months through Friday while the S&P 500 has gained 5.9%.
2:14 a.m. Nov. 3, 2021 - By Ciara Linnane
Marriott revenue tops estimates and says it expects pickup in October to continueMarriott International Inc. beat revenue estimates for the third quarter on Wednesday, and said a pickup in business in October as the delta variant of the coronavirus began to wane is expected to continue. The company posted net income of $220 million, or 67 cents a share, for the quarter, up from $100 million, or 31 cents a share, in the year-earlier period. Adjusted per-share earnings came to 99 cents, matching the FactSet consensus. Revenue climbed to $3.946 billion from $2.254 billion, ahead of the $3.713 billion FactSet consensus. CEO Anthony Capuano said worldwide revenue per average room (RevPAR) was down 26% compared to the third quarter of 2019, before the outbreak of the pandemic, a better result than the 44% decline seen in the second quarter. Occupancy topped 58% thanks to strength in leisure demand. "Globally, leisure travel generally remained very strong throughout the quarter, while the Delta variant had the most impact on business transient demand. With the worst of the Delta variant wave now hopefully behind us, business transient demand picked up again in October, a trend we expect to continue," the executive said in a statement. Marriott is not offering guidance because of the continued uncertainty relating to the pandemic. Shares were slightly lower premarket, but have gained 21% in the year to date, while the S&P 500 has gained 23%.
3:21 a.m. Oct. 29, 2021 - By Tomi Kilgore
Royal Caribbean reports wider-than-expected loss and revenue miss, but bookings show significant improvementShares of Royal Caribbean Group slipped 0.6% in premarket trading Friday, after the cruise operator reported a wider-than-expected loss and revenue that came up short of forecasts, but said booking volumes have improved "significantly" since the delta-variant induced slowdown over the summer. The net loss for the quarter to Sept. 30 was $1.42 billion, or $5.59 a share, after a loss of $1.35 billion, or $6.29 a share, in the year-ago period, as the weighted average number of shares outstanding increased 18.9%. Excluding nonrecurring items, adjusted losses per share narrowed to $4.91 from $5.62 and but missed the FactSet loss consensus of $4.39. The company swung to revenue of $456.96 million, after negative revenue of $33.69 million last year, but was below the FactSet consensus of $567.0 million, as passenger ticket revenue grew 87-fold to $280.15 million but missed expectations of $487.8 million. The company said as of Friday, 40 ships from the company's five brands, or 65% of its capacity, have resume sailing. Bookings were above second-quarter levels with particular strength in September, as new bookings for 2022 sailings for the month more than 60% higher than the monthly average for the second quarter. The stock has gained 5.3% over the past three months through Thursday, while the S&P 500 tacked on 4.0%.
1:16 a.m. Oct. 27, 2021 - By Tomi Kilgore
Hilton swings to in-line profit, revenue rises above forecasts as comparable RevPAR nearly doublesShares of Hilton Worldwide Holdings Inc. edged up 0.1% in premarket trading Wednesday, after the hotel chain swung to a third-quarter profit that was in line with expectations, while revenue rose above forecasts, as comparable revenue per available room (RevPAR) nearly doubled. The company swung to net income of $240 million, or 86 cents a share, from a loss of $79 million, or 29 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share came to 78 cents, matching the FactSet consensus. Revenue grew 87.5% to $1.75 billion, topping the FactSet consensus of $1.70 billion. Systemwide comparable RevPAR increased 98.7% from a year ago, but declined 18.8% from the same period in 2019. "We are pleased with our third quarter results which continue to reflect recovery from the adverse impact of the COVID-19 pandemic," said Chief Executive Christopher Nassetta. "Leisure travel remained strong and business travel continued to pick up during the quarter." The stock has rallied 12.4% over the past three months while the S&P 500 has gained 3.9%.
2:26 a.m. Oct. 7, 2021 - By Tomi Kilgore
Carnival to restart more cruises from U.S. ports in January and February, expects 100% capacity use in the springShares of Carnival Corp. rose 1.7% in premarket trading Thursday, after the cruise operator announced more cruise restarts that will increase the use of its U.S.-based capacity to 90% through February 2022. The company said late Wednesday that its Carnival Sunshine ship will restart operations from Charleston on Jan. 13 and its Carnival Liberty ship will restart from Port Canaveral on Feb. 11, adding to the 17 ships scheduled to be operating by the end of 2021. The restarts are part of the Carnival's plan to be using 100% of its cruise capacity from U.S. ports in the spring of 2022. Meanwhile, cruises on Carnival's three remaining U.S.-based ships, Carnival Ecstasy from Jacksonville, Carnival Paradise from Tampa and Carnival Sensation from Mobile, have been cancelled through February. "Our restart plan continues to excel across all metrics, and we are looking forward to completing the restart of the fleet in the new year," said Carnival Cruise Line President Christine Duffy. The stock has gained 3.4 over the past three months through Wednesday, while the S&P 500 has ticked up 0.1%.
4:56 a.m. Sept. 24, 2021 - By Tomi Kilgore
Carnival's stock rises after Q3 business updateShares of Carnival Corp. surged 1.3% in morning trading, after the cruise operator provided an update on its third quarter. The company reported a net loss of $2.8 billion, wider than the loss of $2.1 billion in the sequential second quarter, but narrower than the $2.9 billion loss seen in the year-ago quarter. In the pre-pandemic third quarter of 2019, Carnival had net income of $1.8 billion. The adjusted third-quarter loss was $2.0 billion, compared with an adjusted loss of $1.7 billion a year ago. The company did not provide per-share loss figures. The company said the cruises operating in the third quarter were cash flow positive, and the company expects this to continue. Monthly average cash burn during the quarter was $510 million, which is better than previous guidance. Booking volumes for all cruises during the third quarter were down from the second quarter but higher than the first quarter, as concerns over the spread of the delta variant weighed on booking volumes in August. Meanwhile, cumulative advanced bookings for the second half of 2022 are "ahead of a very strong 2019." The update comes a day after Carnival said it expected to have by the end of October. Carnival's stock has lost 8.9% over the past three months, while the S&P 500 has gained 4.2%.
4:21 a.m. Sept. 23, 2021 - By Tomi Kilgore
Carnival to have over half of its cruise ships sailing again by the end of OctoberShares of Carnival Corp. climbed 2.1% in premarket trading Thursday, after the cruise operator said it expects to have more than 50% of its cruise capacity operating by the end of October. The company said it also targets 65% of capacity returning to operation by the end of the year. The company said to date, eight of its nine cruise brands have resumed sailings, and those eight brands have announced that they will be operating 42 ships by the end of October, which is more than half of Carnival's global fleet capacity. "Based on our initial restart of guest cruise operations across eight brands, it is clear from our guests that there is tremendous confidence in our brands, our health and safety protocols, and the return of cruising as one of the world's most popular vacations," said Chief Communications Officer Roger Frizzell. Carnival's stock has dropped 16.1% over the past three months through Wednesday, while the S&P 500 has gained 3.6%.
9:40 a.m. Sept. 9, 2021 - By Tomi Kilgore
Marriott stock gains after CEO sees 'stabilization' in RevPAR in SeptemberShares of Marriott International Inc. rose 1.0% in afternoon trading Thursday after the hotel operator indicated that business has stabilized following some weakness in August as a results of . Speaking at the Bank of America Gaming & Lodging Conference, Marriott Chief Executive Anthony Capuano revenue per available room (RevPAR) for August is expected to be down 27% from 2019 levels, a slight worsening from the 23% decline seen in July, as COVID-19 infections increased. But after the "slight retrenchment" in RevPAR in August, Capuano said "we are seeing some stabilization in the early days of September," according to a FactSet transcript. He added that while business transient demand may not return as quickly as expected, as the rise in COVID-19 cases has slowed the return of employees to the office, he said of the Pfizer Inc. and BioNTech SE COVID-19 vaccine and the return of in-person schooling at more and more school districts "is great news for us." Marriott's stock has slipped 6.0% over the past three months, while the S&P 500 has gained 6.5%.
3:24 a.m. Sept. 3, 2021 - By Ciara Linnane
Travel company Sabre says August bookings remained sharply below 2019 levels as pandemic continued to weighTravel company Sabre Corp. said Friday global travel trends remained under pressure from the coronavirus pandemic in August, reflecting COVID-19 case counts, vaccination rates and regional travel restrictions. In a filing with the Securities and Exchange Commission, the company said its net air bookings were down about 65% in the month compared with August of 2019, before the outbreak. Passengers boarded were down about 38% versus August 2019 and gross hotel central reservations were down about 22%. The stock was not yet active premarket but is down about 7% in the year to date, while the S&P 500 has gained 20.8%.
6:09 a.m. Aug. 23, 2021 - By Tomi Kilgore
Cruise stocks rally after FDA approval of Pfizer COVID-19 vaccineShares of cruise operators rallied Monday, as the Food and Drug Administration's full approval of the COVID-19 vaccine developed by Pfizer Inc. and partner BioNTech SE boosted hopes for increased vaccination rates. Carnival Corp.'s stock ran up 2.6%, Norwegian Cruise Line Holdings Ltd. shares climbed 3.0% and Royal Caribbean Group tacked on 1.1%. In comparison, the S&P 500 advanced 0.9%. The companies have required its staff and guests on most of their cruises to be vaccinated. Acting FDA Commissioner Janet Woodcock said the FDA approval of the Pfizer-BioNTech vaccine " ."
7:20 a.m. Aug. 17, 2021 - By Tomi Kilgore
Online travel booker stocks fall amid growing concerns over surging COVID cases Shares of online travel services companies were broadly lower Tuesday, with many hitting multi-month lows, as fueled fears of potential travel restrictions. The ETFMG Travel Tech ETF dropped 3.5%, and has shed 7.5% amid a 4-day losing streak, putting it on track for the lowest close since Dec. 23, 2020, as 32 of 34 equity components lost ground. In comparison, the S&P 500 declined 0.9%. Among some of the ETF's online-booker components, shares of Expedia Group Inc. slid 1.7%, TripAdvisor Inc. dropped 3.0%; Despegar.com slumped 6.4% and Trivago N.V. tumbled 8.0%, all toward six-month lows, while Booking Holdings Inc. slipped 1.1%, but was above the July 19 closing low of $2,067.55. Shares of Travelzoo , which provides travel information, declined 5.3%, and Sabre Corp. , which provides travel-booking technology, lost 1.4%. Elsewhere, shed 2.6%, and has lost 6.1% amid a four-day losing streak, while cruise operator Carnival Corp.'s stock lost 3.2%, and has dropped 8.0%, also amid a 4-day loss streak.
5:24 a.m. Aug. 14, 2021 - By Catey Hill
I’m 66, get $26,300 a year in Social Security and want to live in a small city by the ocean — so where should I retire? Looking for ideas on the best place for you to retire? Email HelpMeRetire@marketwatch.com A retirement near the beach can be had for less than you might think.
4:29 a.m. Aug. 9, 2021 - By Tomi Kilgore
Norwegian Cruise stock slips after federal judges sides with cruise operator's proof-of-vaccination policy in FloridaShares of Norwegian Cruise Line Holdings Ltd. pulled back 0.8% in premarket trading, roughly in line with the stocks of the cruise operator's peers, after in its fight Florida's rule that businesses can't require proof of COVID-19 vaccination. The stock's slip comes after it shot up 10.1% over the past two days, with the company reporting on Friday , even as revenue missed. The company had said in its post-earnings conference call with analysts on Friday that 35% to 36% of its fleet is set to sail out of Florida in the next six months, and Chief Executive Frank Del Rio said the company's policy of 100% vaccinations is in place "without issue" in the nearly 500 ports its cruise ships sale to and from around the world. Among Norwegian's peers, shares of Royal Caribbean Group fell 0.7% ahead of the open and Carnival Corp. shed 0.8%, while futures for the S&P 500 declined 0.1%.
2:16 a.m. Aug. 6, 2021 - By Tomi Kilgore
Norwegian stock slips after narrower-than-expected loss, but revenue and cash burn missedShares of Norwegian Cruise Line Holdings Ltd. slipped 0.7% in premarket trading Friday, after the cruise operator reported a narrower-than-expected second quarter loss but revenue that was a bit light and cash burn that topped guidance. Net losses came to $717.8 million, or $1.94 a share, after a loss of $715.2 million, or $2.99 a share, in the year-ago period. Excluding nonrecurring items, the adjusted per-share loss was $1.93, compared with the FactSet loss consensus of $1.97. Revenue fell 74% to $4.4 million, missing the FactSet consensus of $10.0 million, as passenger ticket revenue declined 89% to $1.58 million and onboard and other revenue fell 10% to $2.78 million. Monthly average cash burn for the second quarter was $200 million, above previous guidance of $190 million, as the company prepared for a return to service this summer. The company expects third-quarter monthly average cash burn of $285 million, given the continued phased relaunch of cruises. Norwegian Cruise's stock has shed 13.1% over the past three months through Thursday, while the S&P 500 has gained 5.4%.
9:46 a.m. Aug. 4, 2021 - By Tomi Kilgore
Royal Caribbean stock falls toward longest post-pandemic losing streakShares of Royal Caribbean Group dropped 3.0% in afternoon trading Wednesday, putting them on course for the longest losing streak since the , after the cruise operator reported on revenue that well a lot more than forecast, and amid concerns over the potential impact of the delta variant of the coronavirus. The stock has now shed 10.6% during its seven-session losing streak, which would be the longest since the 10-day stretch of losses that ended on Feb. 27, 2020. Chief Financial Officer Jason Liberty said, according to a FactSet transcript of the post-earnings conference call with analysts that while July marked the second-highest booking month of the year, as it relates to the delta variant, "we have mainly seen small variations with closer-in bookings in markets with high case counts." And Chief Executive Richard Fain said that the third and fourth quarters "will continued to be painful," but said bookings have been "generally in line" with return-to-service and occupancy expectations. The stock has slumped 14.0% over the past three months, while the S&P 500 has gained 6.0%.
1:13 a.m. July 29, 2021 - By Tomi Kilgore
Hilton's stock slips after swinging to profit that beat expectations, but missing on revenueShares of Hilton Worldwide Holdings Inc. fell 0.8% in premarket trading Thursday, after the hotel chain swung to a second-quarter profit that beat expectations, but revenue that came up short. Net income was $130 million, or 46 cents a share, after a loss of $430 million, or $1.55 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share came to 56 cents, above the FactSet consensus of 40 cents. Revenue climbed 135.6% to $1.33 billion, the most since the first-quarter of 2020, but was below the FactSet consensus of $1.42 billion. Revenue per available room (RevPAR) more than tripled from a year ago to $73.03, above expectations of $67.80. "The broader distribution of vaccinations and the easing of travel and other restrictions have allowed for renewed interest in travel and tourism, with families embarking on long-delayed trips, and businesses scheduling in-person meetings again," said Chief Executive Christopher Nassetta. "While the pace of recovery varies by region, particularly with the uncertainty surrounding coronavirus variants, we expect continued strength in leisure demand and further upticks in business travel to drive continued resurgence in the back half of the year." The stock has rallied 16.4% year to date through Wednesday, while the S&P 500 has advanced 17.2%.
9:20 a.m. July 22, 2021 - By Tomi Kilgore
Airbnb's stock extends bounce after BTIG analyst turns bullish, cites 'appealing' buying opportunityShares of Airbnb Inc. gained 0.6% in afternoon trading, putting them on track for a third-straight gain, after BTIG analyst Jake Fuller turned bullish on the home-rental company, saying the recent selloff has created an "appealing entry point" for a "best-in-breed" online travel agent (OTA). The stock has now bounced 6.2% since closing Monday at a seven-month low of $131.88, which was 39% below the Feb. 11 record close at $216.84. He raised his rating to buy, after being at neutral since Airbnb went public in December. "[Airbnb's stock] wasn't interesting to us >$200 in February, but at <$140 with revenue estimates up significantly...we see an opportunity to own a unique (few brands have become a verb/noun) and compelling (>90% of traffic direct) model," Fuller wrote in a note to clients. The FactSet consensus for 2021 revenue has increased to $5.29 billion from $4.69 billion at the end of February, and represents 57% growth from 2020. "We can't say how a COVID resurgence might impact travel, but can say that [Airbnb] is better situated than peers to deal with it," Fuller wrote. He noted that Airbnb's bookings fell less that its peers and have fully recovered to 2019 levels, which others are still below pre-pandemic levels. The stock has slipped 4.6% year to date, while the S&P 500 has gained 16.3%.
7:35 a.m. July 20, 2021 - By Catey Hill
‘I could live on my Social Security and still save money’: This 66-year-old left Chicago for ‘calming’ Costa Rica — where he now plans to live indefinitely But he says it’s important not to ‘overglorify’ Costa Rica, as it is ‘not without its problems’ But he says it’s important not to ‘over-glorify’ Costa Rica, as it is ‘not without its problems.’
4:01 a.m. July 20, 2021 - By Tomi Kilgore
Carnival stock bounces after plans to have nearly 75% of cruise capacity operating by year endShares of Carnival Corp. bounced 1.9% in premarket trading Tuesday, after the cruise operator said it expects to operate 65% of its total fleet capacity by the end of 2021. The company also announced plans in which it envisions its Carnival Cruise Line brand's entire fleet could return to service this year, which would increase the total operating capacity to nearly 75% by year end. For its North America brands, Carnival Cruise Line has resumed cruises with three ships sailing out of U.S. ports, and intends to have 15 ships in operation by the end of October and its entire fleet cruising by year end. Princess Cruises will resume operations out of two U.S. ports this weekend, and expects to have six ships operating by the end of the year. Seabourn has resumed cruises with two ships, sailing from Greece and Barbados, and expects to add a third ship sailing to begin the Antarctica season in November. "With strong ongoing demand for cruising, we look forward to serving our guests with additional ships announced across eight of our brands and nearly three-quarters of our fleet capacity returning by the end of this year, marking an important milestone for our company and all those who rely on the strong economic impacts generated by the global cruise industry," said Chief Communications Officer Roger Frizzell. The stock has tumbled 25.2% as it lost ground in 10 of the past 11 sessions to close Monday at a 5 1/2-month low. It has lost 9.0% year to date, while the S&P 500 has gained 13.4%.
9:35 a.m. July 13, 2021 - By Dave Sebastian
Norwegian Cruise Line sues Florida surgeon general over ‘vaccine-passport’ ban The cruise operator plans to restart U.S. cruises in August with a 100% vaccination policyNorwegian Cruise Line Holdings Ltd. has sued Florida’s surgeon general, challenging the state’s barring of businesses from requiring proof of COVID-19 vaccination and intensifying the standoff between the company and Florida.
11:29 a.m. June 28, 2021 - By Catey Hill
‘Health care will keep us from going back to the U.S.’: Texas couple who retired to Spain on about $2,000 a month Though they ‘love America,’ this couple has chosen to put roots down in the coastal town of Dénia in SpainThough they ‘love America,’ this couple has chosen to put their roots down in the coastal town of Denia in Spain.
11:29 a.m. June 19, 2021 - By Catey Hill
‘I’m 73 and fed up with California and want a gun-friendly, affordable city with good weather — so where should I retire?’ Looking for ideas on the best place for you to retire? Email HelpMeRetire@marketwatch.comSome hidden gems to consider in Georgia, New Mexico and Arkansas.
10:27 a.m. June 17, 2021 - By Tonya Garcia
El Pollo Loco testing drone delivery in southern CaliforniaEl Pollo Loco Holdings Inc. said Thursday that it has partnered with Flytrex to test drone delivery service in southern California. Flytrex has drones that travel at 32 miles per hour and can provide "door-to-backyard" delivery by lowering orders from 80 feet. Air Loco drone delivery will be available to select loyalty members. Walmart Inc. announced on Thursday that it has in order to scale up the use of the machines for delivery service. El Pollo Loco stock has fallen 7.8% for the year to date while the S&P 500 index is up 12.5% for the period.
1:17 a.m. June 8, 2021 - By Tomi Kilgore
Park Hotels provides business update amid as leisure demand trends acceleratePark Hotels & Resorts Inc. said Tuesday it has increased the number of its hotels that are open to 55, or 93% of its total of 59 hotels, and 86% of its total room count. The hotel operator's stock was still inactive in premarket trading. As of May 2021, occupancy was 40.7% at its 52 hotels, up from 37.0% in April, but down 20.1% from May 2019. Revenue per available room (RevPAR) in May was up 1,325.3% from a year ago, but down 61.7% from two years ago, after April RevPAR was up 1,305.3% from a year ago but down 65.9% from April 2019. "Leisure demand trends continue to accelerate at a faster pace than we had initially anticipated, with impressive pricing power seen in most of our resort assets, while early indications of group booking activity and business transient travel should translate to a broader based recovery across all demand segments over the back half of 2021 and well into 2022," said Chief Executive Thomas Baltimore. Park's stock has rallied 26.4% year to date while the S&P 500 has gained 12.5%.
3:16 a.m. May 26, 2021 - By Tomi Kilgore
Norwegian Cruise sets plan for 8 more cruise ships to resume operationsNorwegian Cruise Line Holdings Ltd. announced Wednesday its plan for the next phase of the resumption of cruises, which will include eight more ships setting sail in Fall 2021. The stock rallied 2.6% in premarket trading. For the cruise operator's Oceania Cruises, Riviera will resume sailings from Istanbul in October, Insignia will resume sailing from Miami to the Panama Canal in December and Sirena will start sailing from Miami to Panama City in January. The company's Regent Seven Seas Cruises will have all five ships resuming operations by February 2022. The cruises from the U.S. are contingent on obtaining approval from the U.S. Centers for Disease Control and Prevention. Norwegian's announcement comes a day after Royal Caribbean Group said in June. Norwegian's stock has rallied 22.4% year to date through Tuesday, Royal Caribbean shares have climbed 19.2% and Carnival Corp.'s stock has run up 32.0%, while the S&P 500 has gained 11.5%.
1:23 a.m. May 24, 2021 - By Quentin Fottrell
When was the last time you saw Paris? EU ambassadors will ease travel restrictions, but Americans still face hurdles The EU will give more details on the relaxation of existing measures next week, but every country will have its own timetableThe EU will give more details on the relaxation of existing measures next week, but every country will have its own timetable.
4:19 a.m. May 17, 2021 - By Quentin Fottrell
Americans are finally getting ready to splurge — here’s what they’re buying Exhaling after more than a year of pandemic-related restrictions, consumer confidence is on the riseExhaling after more than a year of pandemic-related restrictions, consumer confidence is on the rise.
7:26 a.m. May 16, 2021 - By Quentin Fottrell
Is it ethical for cruise lines, venues, schools or Broadway to restrict entry to people not vaccinated against COVID-19? Are vaccine holdouts ‘pathologically narcissistic’ or exercising their civil rights? And do private businesses have the right to refuse them? The Moneyist weighs inAre vaccine holdouts ‘pathologically narcissistic’ or exercising their civil rights? And do private businesses have the right to refuse them? The Moneyist weighs in.
2:19 a.m. May 6, 2021 - By Tomi Kilgore
Norwegian Cruise stock drops after wider-than-expected loss, revenue missShares of Norwegian Cruise Line Holdings Ltd. fell 2.0% in premarket trading Thursday, after the cruise operator reported a wider-than-expected first-quarter loss and revenue that fell more than forecast, while cash burn was in line with forecasts and said it was preparing to return to service this summer. The net loss narrowed to $1.37 billion, or $4.16 a share, from $1.88 billion, or $8.80 a share, in the year-ago period. Excluding nonrecurring items, per-share losses widened to $2.03 from 99 cents, compared with the FactSet loss consensus of $2.02. Revenue plunged 99.8% to $3.1 million, below the FactSet consensus of $11.2 million. Monthly average cash burn was in line with the company's guidance of $190 million, and Norwegian expects second-quarter cash burn to average $190 million a month. The company said 2022 booking trends "are very positive driven by strong pent up demand," with the booked position for the first half of 2022 "meaningfully ahead" of the pre-pandemic 2019's record levels. "As for the resumption of cruises from the U.S., we continue to engage in dialogue with the U.S. Centers for Disease Control and Prevention," said Chief Executive Frank Del Rio. "Our team is working through the recently issued and modified technical guidance for which additional clarification is needed on how the incorporation of vaccine requirements impacts the Conditional Sail Order and our path forward." The stock has rallied 20.8% over the past three months through Wednesday while the S&P 500 has gained 7.2%.
1:25 a.m. May 5, 2021 - By Ciara Linnane
Hilton shares slide 2.2% premarket as earnings fall short of estimates amid COVID shutdownsHilton Worldwide Holdings Inc. shares slid 2.2% in premarket trade Wednesday, after the hotel chain's earnings fell short of estimates, as the coronavirus pandemic continued to weigh on demand in January and February. Hilton swung to a loss of $108 million, or 39 cents a share, in the quarter, after income of $18 million, or 6 cents a share, in the year-earlier period. Excluding special items, the company had adjusted per-share earnings of 2 cents, below the 7 cents FactSet consensus. Revenue tumbled to $874 million from $1.920 billion, missing the $1.085 billion FactSet consensus. Revenue per available room fell 38.4% on a currency-neutral basis. "While rising COVID-19 cases and tightened travel restrictions, particularly across Europe and our Asia Pacific region, weighed on demand in January and February, we saw meaningful improvement in March and April," Chief Executive Christopher J. Nassetta said in a statement. "We expect this positive momentum to continue as vaccines are more widely distributed and our customers feel safe traveling again." The operations of about 275 properties, mostly in the U.S. and Europe, were suspended for some time during the first quarter, compared with about 730 properties in the year-earlier period. Shares have gained 15.3% in the year to date, while the S&P 500 has gained 10.9%.
3:14 a.m. May 3, 2021 - By Barbara Kollmeyer
EU proposes lifting restrictions for non-essential travel The European Commission on Monday proposed allowing entry by non-essential travelers to the region, in a bid to restart tourism in some of its hardest hit countries. "The Commission proposes to allow entry to the EU for non-essential reasons not only for all persons coming from countries with a good epidemiological situation but also all people who have received the last recommended dose of an EU-authorised vaccine," said the body in a . The EU proposes lifting the threshold linked to the number of new COVID-19 cases used in determining a list of countries from which all travel should be allowed. The EU also proposed an "emergency brake" mechanism, that would allow member states to act quickly over COVID-19 variants to temporarily limit travel from affected countries.
5:37 a.m. April 29, 2021 - By Andrea Riquier
CDC announcement lifts cruise-line operators, but few travel ETFsShares of cruise-line operators charged higher Thursday as the Centers for Disease Control and Prevention said cruise ships might sail as soon as the summer. But with cruise stocks held so diffusely among various exchange-traded funds, few participated in the rally. Carnival Corporation shares were 2% higher, Royal Caribbean Group shares rose 1.2%, and Norwegian Cruise Line Holdings Ltd. jumped 3.6% midmorning. The ETF that may have one of the largest allocations to the sector, the AdvisorShares Hotel ETF , at 9.3%, gained 0.3%, as did the Invesco S&P 500 Equal Weight Consumer Disrectionary ETF , which has the largest single allocation to Norwegian shares, according to FactSet data. Most other travel-specific ETFs focus on the booking infrastructure, like the ETFMG Travel Tech ETF or airlines, like the U.S. Global Jets ETF .
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