Cruise Stock Pivots Lower Despite Top-Line Beat
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Carnival Corp (NYSE:CCL) stock has dropped 3.3% to $29.47 despite reporting better-than-expected fiscal Q3 earnings and raising its annual profit forecast. After reaching a five-year high of $32.49, CCL has turned negative, mirroring declines in sector peers Royal Caribbean and Norwegian Cruise Line. Year-to-date, CCL is still up 19.3% and 60% over the past year. Options trading shows a preference for calls today, with significant volume in the 30-strike call for the week of 10/3.
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