Carnival Corporation Shares Rise After Company Update and Nike Shares Fall After Disappointing Earnings 🛳

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Carnival Corporation Shares Rise After Company Update and Nike Shares Fall After Disappointing Earnings

Carnival Corporation

On Friday, shares of Carnival Corporation rose, closing up 3.04%.

Shares of the British-American cruise operator rose after the company delivered a Q3 update.

The firm recorded a $2.8 billion net loss, higher than the $2.1 billion loss in the previous quarter. The firm earned a net profit of $1.8 billion in the third quarter of 2019 before the pandemic.

Booking volumes for all cruises were down in the third quarter compared to the second, but up compared to the first, as worries over the delta variant’s spread impacted August booking numbers.

Shares of Carnival Corporation have risen 17% this year.

Nike

On Friday, shares of Nike fell, closing down 6.26%.

Shares of the American global sports apparel giant fell after the company delivered a disappointing Q1 earnings report.

The company reported revenue of $12.2 billion vs analysts’ expectations of $12.4 billion. In addition, they reported earnings per share of $1.16 vs analysts’ expectations of $1.12.

Nike stated that if supply chain disruptions didn’t impact its inventory, sales would have been higher. In addition, Nike’s production plants in Vietnam and Indonesia had to close temporarily to assist limit the spread of the virus in those nations.

Shares of Nike have risen 5% this year.

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

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