{"id":70658,"date":"2023-10-09T16:11:52","date_gmt":"2023-10-09T20:11:52","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/carnivals-stock-drops-toward-four-month-low-as-israel-hamas-exposure-fears-weigh\/"},"modified":"2023-10-09T16:11:55","modified_gmt":"2023-10-09T20:11:55","slug":"carnivals-stock-drops-toward-four-month-low-as-israel-hamas-exposure-fears-weigh","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=70658","title":{"rendered":"Carnival\u2019s stock drops toward four-month low as Israel-Hamas exposure fears weigh"},"content":{"rendered":"
\n

Of the big three cruise operators, Carnival Corp. has the least cruise exposure to Israel, but its stock is getting hit the hardest \u2014 enough to put it on track for a four-month closing low.<\/p>\n

Wells Fargo analyst Daniel Politzer estimates that the biggest cruise-related impact of Hamas\u2019s surprise attack on Israel over the weekend is to Royal Caribbean Group
\n RCL,
\n -2.89%<\/bg-quote>,<\/span>
\n which had 14 planned sailings scheduled from Israel through the end of the year. Next is Norwegian Cruise Line Holdings Ltd.
\n NCLH,
\n -0.06%<\/bg-quote>
\n with 10 scheduled sailings, followed by Carnival
\n CCL,
\n -4.30%<\/bg-quote>
\n with six.<\/p>\n

\n

For the first half of 2024, Royal Caribbean has 15 sailings from Israel scheduled, Norwegian has six and Carnival has 10.<\/p>\n

Read:<\/strong> Israel vows complete siege of Gaza<\/p>\n

In addition, Politzer said, \u201cseveral sailings to Israel this week have been canceled or itineraries modified.\u201d So with all three cruise operators, he could envision pressure on pricing in the fourth quarter and the first quarter.<\/p>\n

Meanwhile, in terms of cruise capacity, he estimates Norwegian Cruise will be the most impacted, followed by Royal Caribbean and then Carnival.<\/p>\n

Carnival\u2019s stock slumped 4.2% in afternoon trading, putting it on track for the lowest close since June 5. The stock was the S&P 500 index\u2019s
\n SPX
\n fifth worst performer on the day.<\/p>\n

Royal Caribbean\u2019s stock shed 2.7% and Norwegian Cruise shares gave up 1.4%.<\/p>\n

Politzer noted Royal Caribbean\u2019s \u201cRhapsody of the Seas\u201d and \u201cJewel of the Seas\u201d cruise ships, and Carnival\u2019s \u201cSeabourn Escape,\u201d all homeport in Israel\u2019s Haifa port, which is the country\u2019s main cruise port.<\/p>\n

\u201cWhile our checks focused on itineraries that touch Israel, we acknowledge ships sailing within the entire region will likely be impacted,\u201d Politzer wrote in a note to clients.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Of the big three cruise operators, Carnival Corp. has the least cruise exposure to Israel, but its stock is getting hit the hardest \u2014 enough to put it on track for a four-month closing low. Wells Fargo analyst Daniel Politzer estimates that the biggest cruise-related impact of Hamas\u2019s surprise attack on Israel over the weekend […]<\/p>\n","protected":false},"author":1,"featured_media":70659,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-70658","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nCarnival\u2019s stock drops toward four-month low as Israel-Hamas exposure fears weigh | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Of the big three cruise operators, Carnival Corp. has the least cruise exposure to Israel, but its stock is getting hit the hardest \u2014 enough to put it on\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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