Carnival Stock Price Dropping

[kevingastreich]

14 minutes ago, rkacruiser said:

Please, Governor DeWine, don't close my wine store!!!!!

Gov. Inslee in WA already said he won't close the pot shops...they are "essential"

[rkacruiser]

Just now, kevingastreich said:

Gov. Inslee in WA already said he won't close the pot shops...they are "essential"

 

😀   Not a pot fan, but I do enjoy my wine.  So far. alcoholic beverages in Ohio are deemed "essential".  

 

I discovered that donuts are not essential.  Monday, I tried to patronize my favorite and nationally recognized Donut Store.  They are not "essential".  Thus, they were closed.  Maybe Governor DeWine does not like donuts?😀

[HAL4NOW]

12 minutes ago, rkacruiser said:

 

😀   Not a pot fan, but I do enjoy my wine.  So far. alcoholic beverages in Ohio are deemed "essential".  

 

I discovered that donuts are not essential.  Monday, I tried to patronize my favorite and nationally recognized Donut Store.  They are not "essential".  Thus, they were closed.  Maybe Governor DeWine does not like donuts?😀

In Washington State you can buy Alcoholic beverages in most grocery stores. You may have to wait in line to get into Costco, though.

[rkacruiser]

5 minutes ago, HAL4NOW said:

In Washington State you can buy Alcoholic beverages in most grocery stores. You may have to wait in line to get into Costco, though.

 

Ohio?  Wine and beer in grocery stores.  Not liquor.  

[shanni-shanni]

Just went above $ 16.00.

 

Tom

[Sea Belle]

Today it was announced that any company taking out a government loan would not be allowed to pay dividends until the loan is repaid.  That is a part of the bill passed by the Senate.  Interesting to watch what this will do to the CCL stock....

[HAL4NOW]

5 minutes ago, Sea Belle said:

Today it was announced that any company taking out a government loan would not be allowed to pay dividends until the loan is repaid.  That is a part of the bill passed by the Senate.  Interesting to watch what this will do to the CCL stock....

Actually, the bill hasn't even come up for a vote in the senate yet. they haven't even voted to proceed to the consideration of H.R. 748, the CARES Act.

If they do vote to consider, and then eventually vote to pass the Act, it still needs to go through the House of Representatives. The House isn't even in session at this time.

With all of the political game playing, nothing is assured.

[Daniel A]

16 minutes ago, Sea Belle said:

Today it was announced that any company taking out a government loan would not be allowed to pay dividends until the loan is repaid.  That is a part of the bill passed by the Senate.  Interesting to watch what this will do to the CCL stock....

It seems likely that this is what Schumer wanted in the bill.  It may be put in to act as an incentive for the companies to pay off the loans as quickly as they can.  BTW it is until the loan is repaid PLUS one year...

[Queen of DaNile]

Let's see what happens tomorrow:

 

"Potentially bucking the trend other cruise lines are setting, Carnival Corp. (NYSE:CCL) still hasn't decided whether it's on board with keeping its ships in port after the 30-day cruise suspension, which began on March 13, expires. A post this morning on the company's Facebook page said that the decision is still up in the air, but promised a final answer by this Friday, March 27."

[richwmn]

2 minutes ago, Queen of DaNile said:

Let's see what happens tomorrow:

 

"Potentially bucking the trend other cruise lines are setting, Carnival Corp. (NYSE:CCL) still hasn't decided whether it's on board with keeping its ships in port after the 30-day cruise suspension, which began on March 13, expires. A post this morning on the company's Facebook page said that the decision is still up in the air, but promised a final answer by this Friday, March 27."

Just to keep it straight, the Facebook page is for Carnival Cruise Lines, not the Corporation. Each brand under Carnival Corp is still handling any shutdown independently, so we don't really know what HAL will do

 

[Daniel A]

1 minute ago, richwmn said:

Just to keep it straight, the Facebook page is for Carnival Cruise Lines, not the Corporation. Each brand under Carnival Corp is still handling any shutdown independently, so we don't really know what HAL will do

 

Absolutely correct - Princess and Costa are already beyond the 30 day suspension of service.

[Sea Belle]

18 hours ago, HAL4NOW said:

Actually, the bill hasn't even come up for a vote in the senate yet. they haven't even voted to proceed to the consideration of H.R. 748, the CARES Act.

If they do vote to consider, and then eventually vote to pass the Act, it still needs to go through the House of Representatives. The House isn't even in session at this time.

With all of the political game playing, nothing is assured.

It has passed and the language of the bill has been released to the public.  The House appears to be considering how their vote will be managed.  Now we shall see which companies want to take out the loans with the stipulations involved.  It will be interesting.

[HappyInVan]

Cruise companies won't be able to draw on the emergency support unless they register in the States. By the time they need to do that, the end would be nigh.

 

"Major cruise lines could be left out of the coronavirus stimulus bailout"

 

https://www.cnbc.com/2020/03/26/coronavirus-bailout-could-exclude-carnival-norwegian-royal-caribbean-cruise-lines.html

 

 

[Daniel A]

10 hours ago, HappyInVan said:

Cruise companies won't be able to draw on the emergency support unless they register in the States. By the time they need to do that, the end would be nigh.

 

"Major cruise lines could be left out of the coronavirus stimulus bailout"

 

https://www.cnbc.com/2020/03/26/coronavirus-bailout-could-exclude-carnival-norwegian-royal-caribbean-cruise-lines.html

 

 

According to the article above, "a company must be “created or organized in the United States or under the laws of the United States”"

 

Carnival was created as a subsidiary of Boston-based American International Travel Service (AITS).   Thus it was created in the United States.

 

Additionally, Carnival Corporation is "under the laws of the United States" otherwise the US Department of Justice wouldn't have standing to prosecute Carnival in US District Court for the Southern District of Florida for offenses which were alleged to occurred on the other side of the world.  This article wouldn't be the first time NBC published false or misleading information in order to further NPC's own interests.

[HappyInVan]

3 hours ago, Daniel A said:

According to the article above, "a company must be “created or organized in the United States or under the laws of the United States”"

 

Carnival was created as a subsidiary of Boston-based American International Travel Service (AITS).   Thus it was created in the United States.

 

 

 

AITS has an address in Longboar Key, Florida. Unfortunately, the Carnival-brand ships are registered in the Bahamas and Panama. 

 

https://en.wikipedia.org/wiki/Carnival_Cruise_Line

 

Plus...

 

“have significant operations in and a majority of its employees based in the United States....Cruise lines also typically employ many foreign workers on their ships, who can be exempt from U.S. minimum wage requirements.”

 

 

[npcl]

4 hours ago, Daniel A said:

According to the article above, "a company must be “created or organized in the United States or under the laws of the United States”"

 

Carnival was created as a subsidiary of Boston-based American International Travel Service (AITS).   Thus it was created in the United States.

 

Additionally, Carnival Corporation is "under the laws of the United States" otherwise the US Department of Justice wouldn't have standing to prosecute Carnival in US District Court for the Southern District of Florida for offenses which were alleged to occurred on the other side of the world.  This article wouldn't be the first time NBC published false or misleading information in order to further NPC's own interests.

Dream On  I doubt even very good rubber stretches that far.

Edited March 27, 2020 by npcl

[Daniel A]

34 minutes ago, npcl said:

Dream On  I doubt even very good rubber stretches that far.

You're certainly entitled to your opinion.  Since you didn't articulate any reasons for why you think I misspoke, I can only assume you have none.  Only time will tell if Carnival gets excluded from the assistance, certainly not me and not you...

[LMaxwell]

29 minutes ago, Daniel A said:

You're certainly entitled to your opinion.  Since you didn't articulate any reasons for why you think I misspoke, I can only assume you have none.  Only time will tell if Carnival gets excluded from the assistance, certainly not me and not you...

 

You might want to look at the news released right now regarding Holland America.  After this no politician will be willing to go near the terms "bailout" and "cruise line" 

[npcl]

1 hour ago, Daniel A said:

You're certainly entitled to your opinion.  Since you didn't articulate any reasons for why you think I misspoke, I can only assume you have none.  Only time will tell if Carnival gets excluded from the assistance, certainly not me and not you...

Not only NBC but other organizations including forbes and some brokerage houses have also examined the document and stated that cruise lines are not covered.  Some members of Congress has said the same. Your interpretation seems to be unique.

 

While Carnival must operate under some laws of the US and is subject to US courts, the maximum power that the court dealing with the environmental case greatest threat was to ban CCL ships from US ports.  They are also subject to the SEC because they are listed on the US stock exchange

 

While it may have been initially created under a US company it left and is now incorporated in two places according to their 10k filing neither one is the US

 

Carnival Corporation was incorporated in Panama in 1972 and Carnival plc was incorporated in England and Wales in 2000. Carnival Corporation and Carnival plc operate a dual listed company (“DLC”), whereby the businesses of Carnival Corporation and Carnival plc are combined through a number of contracts and through provisions in Carnival Corporation’s Articles of Incorporation and By-Laws and Carnival plc’s Articles of Association. The two companies operate as if they are a single economic enterprise with a single senior executive management team and identical Boards of Directors, but each has retained its separate legal identity. Carnival Corporation and Carnival plc are both public companies with separate stock exchange listings and their own shareholders. Together with their consolidated subsidiaries, Carnival Corporation and Carnival plc are referred to collectively in this Form 10-K as “Carnival Corporation & plc,” “our,” “us” and “we.”

 

 

[HappyInVan]

CCL is preparing for a 2-year siege. From CNBC blog...

 

"11:13 am: Beleaguered cruise ship company Carnival to raise $6 billion in stock and debt, shares jump 

Carnival is issuing $6 billion in stock and debt as the beleaguered cruise ship company tries to shore up its finances after suspending operations following COVID-19 outbreaks on at least three of its ships. 

The company said it plans to issue $1.25 billion in stock, $3 billion in secured notes and $1.75 billion in convertible notes all due 2023. Carnival’s stock dropped by about 15% in premarket trading after the announcement, but recovered after the markets opened, rising more than 10%. —William Feuer"

 

 

[HappyInVan]

Rats! Just unloaded at $9,60. 

 

Had a sell order at $20 that just missed. Followed it down. Finally, decided that I was uncomfortable with it. After the stimulus package was approved, there has only been bad news. I'll try again  at $5.

 

 

[VermeulT]

Closed at $8.80 today

[richwmn]

All Cruise Line and Amusement Park Stocks up today

(not including Disney because it encompasses so much)

Symbol	Last Price	Change	% Change
FUN Cedar Fair, L.P.	19.04	+2.76	+16.95%

CCL Carnival Corporation & Plc	9.85	+1.36	+16.02%
NCLH Norwegian Cruise Line Holdings Ltd.	9.59	+1.13	+13.36%
RCL Royal Caribbean Cruises Ltd.	27.92	+3.53	+14.49%
SIX Six Flags Entertainment Corporation	12.88	+2.20	+20.60%
SEAS SeaWorld Entertainment, Inc.	10.63	+1.58	+17.46%

[DeeniEncinitas]

19 minutes ago, richwmn said:

All Cruise Line and Amusement Park Stocks up today

(not including Disney because it encompasses so much)

Symbol	Last Price	Change	% Change
FUN Cedar Fair, L.P.	19.04	+2.76	+16.95%

CCL Carnival Corporation & Plc	9.85	+1.36	+16.02%
NCLH Norwegian Cruise Line Holdings Ltd.	9.59	+1.13	+13.36%
RCL Royal Caribbean Cruises Ltd.	27.92	+3.53	+14.49%
SIX Six Flags Entertainment Corporation	12.88	+2.20	+20.60%
SEAS SeaWorld Entertainment, Inc.	10.63	+1.58	+17.46%

Good morning Rich!!

Thanks so much for posting this!!

Denise😊

[strickerj]

I recall reading about the CCL shareholder benefit when I booked my HAL cruise last summer, and upon seeing the price, thinking "no way I'm spending 5 grand for a $100 OBC". This morning I bought 110 shares at $9.36 each (my cruise is canceled, but I'll still go another time), along with similar amounts of Delta and Hilton. I know many are saying the industry won't come back from this, but we've been through downturns before, including some that disproportionately affected travel (9/11, SARS, swine flu, etc.), and they've always recovered because people want to travel.