Why Carnival Stock Popped on Thursday
Shares of cruise company stock Carnival (NYSE: CCL) slipped 1.4% on Wednesday, only to change course and sail ahead 5.4% on Thursday as of 11:35 a.m. ET.
The positive note from Stifel Nicolaus, which lies behind today's rally, actually came out on Wednesday. But yesterday's rejoicing was quickly snuffed out by later news of a new 0.25-percentage-point interest rate hike by the Federal Reserve, and by Treasury Secretary Janet Yellen's statement that regulators are not considering expanding deposit insurance for bank customers. With so much bad news clamoring for attention, investors couldn't really focus on Carnival's good news yesterday.
But perhaps today they can.
Source Fool.com
