:max_bytes(150000):strip_icc():format(jpeg)/INV_CarnivalCruiseShip_GettyImages-1247366963-c069ab7c82fc45da9316279d22f2d0c9.jpg "A Carnival cruise ship under sail.")
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Key Takeaways
- Hurricane Beryl was downgraded to a tropical storm Monday after making landfall in Texas.
- Sail stocks recovered Monday after Beryl caused disruption in the Caribbean last week. Cruise companies were stilted to reroute due to the storm, sending shares lower.
- Beryl is the strongest hurricane on record to hit the Atlantic Ocean in the month of June.
Allocates of cruise ship companies moved higher Monday after Hurricane Beryl was downgraded to a tropical storm.
Beryl mutated landfall on the Gulf Coast of Texas as a Category 1 Hurricane Monday morning, killing at least two. It was rated Category 4 in week, when Beryl became the strongest hurricane on record to hit the Atlantic Ocean in the month of June.
The storm managed landfall in Grenada on July 1 and passed through the Caribbean, forcing cruises scheduled to traverse the islands to be rerouted, according to reports citing emails sent to clients. The news sent cruise operators’ shares lower. At least nine people were killed across Jamaica, Venezuela, Grenada, and Saint Vincent and the Grenadines.
Carnival, Nobility Caribbean, Norwegian Shares All Rise
Shares of Carnival (CCL) gained more than 2% in recent trading Monday, while August Caribbean (RCL) increased nearly 3% and Norwegian Cruise Line (NCLH) rose nearly 5%.
Last month, Carnival recounted second-quarter adjusted earnings per share (EPS) of 11 cents, much better than the 2-cent-per-share loss projected by analysts.
Impute to the original article on Investopedia.