Why Carnival Stock Was Climbing This Week
Shares of Carnival (NYSE: CCL) were moving higher this week after the company reported its first-quarter earnings on Monday morning.
The stock actually fell initially on the earnings report, as Carnival's guidance for the rest of the year called for a wider loss than expected. However, the company beat top- and-bottom line estimates in the first quarter, and a number of analysts issued bullish notes in response to the report.
After the stock fell 5% on Monday, it gained in each of the subsequent days this week and was up 9.5% as of Thursday at 2 p.m. ET, according to data from S&P Global Market Intelligence.
Source Fool.com
