Stock Alert: Carnival Corporation Down 10%

Shares of cruise operator Carnival Corporation & Plc (CUK) are dropping more than 10% Wednesday morning at $13.40. The stock has traded in the range of $7.08- $49.03 in the last one year.

Monday, Carnival Corporation said it has extended its operational pause in North America through Sept. 30, 2020. The cruise company had initially announced a 30-day pause in operations in March due to Covid-19 pandemic and has extended the pause three times.

On June 18, when the company reported second-quarter results, it had registered a loss, excluding items of $2.4 billion, compared with earnings of $457 million in the comparable period last year.

Revenue also had decreased to $0.7 billion from $4.8 billion last year.

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