Carnival Hikes Profit Outlook, Uber - Waymo Atlanta Partnership, FedEx Misses Estimates
On this edition of Stock Movers:
- Carnival (CCL) shares jumped after it raised its full-year profit outlook as cruise demand has shrugged off the volatile economic and geopolitical backdrop. Its stock surged by as much as 10%, while peers Royal Caribbean Cruises Ltd., Norwegian Cruise Line Holdings and Viking Holdings Ltd. also rose by more than 4.3%. Earnings will be around $1.97 per share this year, the company said in a statement Tuesday morning, up from its previous view of $1.83 per share. Analysts had expected $1.85 per share. The cruise operator also hiked its targets in March after a strong start saw impressive booking growth with record pricing.
- US defense stocks are declining Tuesday as Israel and Iran appeared to be honoring a ceasefire agreement unexpectedly announced by President Donald Trump overnight.
- Uber (UBER) shares are up after the ride-hailing company said in a press release that it will be partnering with Alphabet Inc’s Waymo to offer ride-sharing through autonomous vehicles in Atlanta. In addition, Lime, the Uber-backed electric bike startup, has hired investment banks to prepare for a US initial public offering, according to a report from Reuters.
- FedEx (FDX) shares are down in after hours trading after the company forecasted a worse-than-expected profit for the current quarter in a sign that soft demand from consumers and businesses rattled by tariffs is unlikely to improve in the near term. Adjusted earnings in its fiscal first quarter will be $3.40 to $4 a share, the company said Tuesday in a statement. The range fell below the $4.03 average of analyst estimates compiled by Bloomberg.
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