US Stock Movement: Carnival Cruise drops over 10% as adjusted Q3 profit guidance falls short of expectations

Glonghui, June 23 — Carnival Cruise (CCL.US) once fell by more than 10%, hitting a low of $27; currently, the decline has narrowed to about 6.5%. According to reports, Carnival Cruise predicts that profit in the third quarter will be lower than expected, as the ongoing impact of rising fuel prices under geopolitical tensions continues to drag on the cruise operator’s profit margin. The company expects adjusted earnings per share for the quarter to be about $1.35, below analysts’ expectations of $1.42. (Glonghui)