Help! My Carnival cruise credit offer is sunk, and I can’t get a refund
Q: Last year, I paid a $750 deposit for three tickets on a Carnival cruise from Los Angeles to Puerto Vallarta, Mexico. After the COVID-19 outbreak, Carnival canceled its cruises. Carnival refunded one of the deposits. It sent me a letter stating we had until May 2021 to decide whether to accept a full refund or reschedule a cruise and get $500 additional cruise credit.news.yahoo.com
Two travel stocks and one ETF could ride reopening wave as U.S. hits 70 million vaccine doses, strategists say
The S&P 500 may be coming off a losing week, but travel and leisure stocks have run hot. Bets on the reopening trade as the U.S. passed 70 million vaccine doses have ignited a fire under these stocks. "Lido Advisors has taken a position in their Lido recovery portfolio in Las Vegas Sands," Sanchez told CNBC's "Trading Nation" on Friday. Craig Johnson, chief market technician at Piper Sandler, says one stock could be a way to get exposure across the entire travel industry. He now sees the stock heading back to its former highs set in 2018 — a target that implies 35% upside.cnbc.com
Kia unveils 2022 Carnival as new SUV-inspired minivan with VIP lounge seating
Kia Motors is replacing its Sedona minivan with a new SUV-inspired model called the Carnival beginning in the second quarter of this year. The 2022 Carnival "multi-purpose vehicle," also known as a minivan, features a boxy exterior, large front grille and an overall design that looks more bold and rugged than the outgoing model. It features new front and rear signature lighting as well as Kia's new logo, which was announced earlier this year. The vehicle, which was unveiled Tuesday, features a host of new safety features as well as new sliding configurations for the second-row seating and an available "VIP Lounge Seating" with power controls and leg extensions much like a traditional reclining chair. "The Kia Carnival is here to disrupt a staid segment and proves once again what is possible when conventions are shattered," Kia Motors North America CEO Sean Yoon said in a release.cnbc.com
Germany ekes some fun out of a quiet Carnival
A reveller stands in front of a political carnival float depicting Russia's President Vladimir Putin fighting with opposition leader Alexei Navalny in the streets of Duesseldorf, Germany, Monday, Feb. 15, 2021. Because of the coronavirus pandemic the traditional 'Rosenmontag' carnival parade are canceled but eight floats are pulled through the empty streets in Duesseldorf, where normally hundreds of thousands of people would celebrate the street carnival. But organizers in Duesseldorf, one of the German Rhineland's main Carnival strongholds, didn't want to let Rose Monday in 2021 go completely without the traditional caricatures of current events. “It's a small signal that we're alive,” float builder Jacques Tilly told the German news agency dpa. Another depicted the brain flying out of the head of an activist against coronavirus restrictions.
Brazil Carnival goes online with street parties banned
A woman dressed as a superhero and wearing a mask to curb the spread of the new coronavirus performs in the "Desliga da Justica" street band in Rio de Janeiro, Brazil, Sunday, Feb. 14, 2021. Their performance was broadcast live on social media for those who were unable to participate in the carnival due to COVID restrictions after the city's government officially suspended Carnival and banned street parades or clandestine parties. “When everyone is immunized, we are going to have the biggest Carnival that Brazil has ever seen. One of the biggest street party associations, Blocos da Sebastiana, this year organized workshops on Carnival makeup and instruments and offered playlists of their music. “We would like to be partying on the street but we can’t.” said Rita Fernandes, president of Blocos da Sebastian.
Rio makes do as Carnival festivities are canceled
“It’s magic,” said Das Chagas, who has participated in the Carnival parade for the past 44 years. Eduardo Cerqueira das Chagas speaks with a customer in a store recently opened by the Uniao da Ilha samba school in Rio de Janeiro’s Ilha do Governador. “Do you have masks?” Das Chagas nods, pulling out a few different models. Samba schools — mostly rooted in working-class and favela communities — rely on an army of seamstresses, carpenters and artisans to realize their visions. Because, even without Carnival, Carnival is within us, it’s in our blood.”AdvertisementIonova is a special correspondent.latimes.com
A subdued year for Germany's Carnival, thanks to the virus
A carnival reveler is watched by public order guards at the "Alter Markt" where normally tens of thousands of revelers dressed in carnival costumes would celebrate the start of the street carnival in Cologne, Germany, Thursday, Feb. 11, 2021. This year all carnival celebrations are banned due to the coronavirus pandemic. (AP Photo/Martin Meissner)BERLIN – Germany’s renowned Carnival celebrations got underway Thursday but without any of their usual raucous revelry. One of Germany’s first superspreader events stemmed from a Carnival celebration in a town west of Cologne last February where many people came in contact with an infected man. Cologne festival committee President Christoph Kuckelkorn told Germany’s dpa news agency that Carnival could emerge from this year purified, returning closer to its roots from the increasingly commercial, excessive celebration it had become.
With Carnival scrapped, Rio’s Sambadrome hosts vaccinations
In a normal year, Rios Sambadrome would be preparing for its great moment of the year: the worlds most famous Carnival parade. But a week before what should be the start of Carnival, the pandemic has replaced pageantry. (AP Photo/Bruna Prado)RIO DE JANEIRO – In a normal year, Rio de Janeiro’s Sambadrome would be preparing for its great moment of the year: the world’s most famous Carnival parade. Rio’s hotel occupancy rate normally reaches about 80% in the hot summer months and 100% during Carnival. It's now at roughly 50-60%, according to Alfredo Lopes, the president of Rio’s Hospitality Workers Union.
Pandemic-era Mardi Gras: No big crowds, but plenty of cake
FILE - In this Tuesday, Feb. 25, 2020, file photo, Mondo Kayo parades down Chartres Street during Mardi Gras, in New Orleans. A subdued Carnival season begins Wednesday, Jan. 6, 2021, after the coronavirus pandemic put an end to the crowd-heavy balls and street parades that draw thousands of people to the city every year. The Mardi Gras season always starts on Jan. 6 and ends on Fat Tuesday, which this year falls on Feb. 16. The season is usually marked by extravagant balls and parades where costumed riders throw trinkets to the mobs of people packed along the parade routes. The Krewe de Jeanne d’Arc is a club that annually pays homage to the fallen French hero with a parade through the French Quarter on the official start of the Carnival season.
S&P 500 ends at another record high as tumultuous 2020 ends
The benchmark S&P 500 index finished with a gain of 16.3% for the year, or a total return of about 18.4%, including dividends. And the S&P 500 rose or fell by at least 1% on twice as many days in 2020 than it did, on average, since 1950. The electric car maker jumped 743.4% in 2020 for the biggest gain in the S&P 500. All told, the S&P 500 set 33 record highs in 2020. The S&P 500 rose 24.03 points, or 0.6%, to 3,756.07, an all-time high.
Stocks making the biggest moves midday: Pfizer, Nikola, Carnival, FuboTV & more
Pfizer — Shares of Pfizer rose 2% after the drugmaker said it would supply the U.S. with 100 million additional doses of its Covid-19 vaccine by July. The U.S. government will pay $1.95 billion for the incremental doses, bringing the total paid to Pfizer to nearly $4 billion. Nikola — Shares of Nikola Corp. dropped nearly 10% after the company announced that it has ended its partnership with Republic Services to jointly develop electric garbage trucks. FuboTV — Shares of FuboTV lost more than 8% after a major run-up in shares recently. Chevron, Exxon, Diamondback Energy — Energy stocks rose as investors bet on cyclical sectors and oil futures rose.cnbc.com
Stocks making the biggest moves midday: Tesla, Dollar Tree, Carnival, Best Buy and more
Tesla – Shares of the electric vehicle company jumped more than 4% to hit a record high as investors continue to favor the stock. The company reported better-than-expected earnings amid strong online sales in the third quarter. Dollar Tree reported third-quarter earnings of $1.39 per share on revenue of $6.18 billion. The medical technology company reported earnings of $1.02 per share, topping estimates of 80 cents per share, according to Refinitiv. The apparel retailer reported quarterly earnings of 78 cents per share, beating the 45 cent consensus estimate, according to Refinitiv.cnbc.com
Travel companies cheer Pfizer Covid vaccine news as 'welcomed step' toward return in demand
Today's Pfizer news is a welcomed step in the right direction," Steve Kaufer, CEO of TripAdvisor, told CNBC over email. "This is a very positive development for the world, and, of course, our company and our brands, as well as the cruise industry. In the meantime, the cruise operators are working around the clock, setting up testing facilities for all crew and conducting simulated voyages with their new COVID protocols. Analysts also are wondering whether a new administration under the leadership of President-elect Joe Biden will result in different protocols for the cruise industry. Prior the Pfizer vaccine news, Marriott CEO Arne Sorenson on the company's earnings call last Friday said, "We'll start to see meaningfully more bookings when those vaccines start to take effect."cnbc.com
Virus delays Rio's Carnival for first time in a century
A "quadra" or court, which this time of year is usually filled with Carnival performers practicing their dance moves, sits empty in the Unidos de Padre Miguel samba school, in Rio de Janeiro, Brazil, Monday, Sept. 21, 2020. Rio de Janeiro on Thursday, Sept. 24, said it has delayed its annual Carnival parade, saying the global spectacle cannot go ahead in February because of Brazils continued vulnerability to the new coronavirus pandemic. (AP Photo/Silvia Izquierdo)
Virus delays Rio's Carnival for first time in a century
The samba schools are community institutions, and the parades are just one detail of all that,” Luiz Antonio Simas, a historian who specializes in Rio’s Carnival, said in an interview. As the number of infections grew, the samba schools that participate in the glitzy annual parade halted preparations for the 2021 event. Nearly all of Rio’s samba schools are closely linked to working class communities. “Carnival is our life.”The last year Rio’s Carnival was suspended was 1912, following the death of the foreign relations minister. A statement from the agency Thursday provided no further clarity on the fate of the Carnival street parties.
Norwegian Cruise Line CEO: 'We expect to sail sometime in 2020'
Norwegian Cruise Line hopes to resume sea trips this year, despite a global coronavirus pandemic that has rocked the industry. CEO Frank Del Rio on Thursday told CNBC's Jim Cramer that his cruise company is consulting with government officials and public health experts to ensure its fleet is safe for crew and passengers to board. "We expect to sail sometime in 2020," he said in a "Mad Money" interview. Norwegian could resume cruise operations as soon as July 1, according to information a spokeswoman shared with The New York Times earlier this week. The liquidity gave Norwegian the "encouragement and confidence to go forward," Del Rio said.cnbc.com
Jim Cramer says there is a key difference between the 'coronavirus recession' and Great Recession
Cramer pointed out a big contrast in the underlying causes of the current economic downturn, which he called a "coronavirus recession," and the last recession. The economic downturn of the late 2000s, the worst since the Great Depression of the 1930s, was triggered by a financial breakdown. The Saudi sovereign wealth fund revealed that it bought 43.5 million shares of the American cruise company. Carnival also said it sold nearly $2 billion worth of senior notes with a 5.75% coupon and expects to close on another $4 billion in senior notes with a 11.5% coupon, both due in 2023. In the case a company goes into bankruptcy, the senior notes, or bonds, are prioritized for payback.cnbc.com
Beleaguered cruise ship company Carnival to raise $6 billion in stock and debt, shares jump
Carnival is issuing $6 billion in stock and debt as the beleaguered cruise ship company tries to shore up its finances after suspending operations following COVID-19 outbreaks on at least three of its ships. The company said Tuesday it plans to issue $1.25 billion in stock, $3 billion in secured notes and $1.75 billion in convertible notes all due 2023. President Donald Trump has indicated that the federal government will help the struggling cruise industry, which employs more than 400,000 Americans, according to the Cruise Lines International Association. "What we take away from this is a recognition that the recently passed $500bn 'Economic Stabilization Fund' doesn't figure to bring the cruise industry much help," Bilson wrote. Earlier this month, the Cruise Lines International Association, of which Carnival is a member, announced a 30-day suspension of North American operations amid the COVID-19 pandemic.cnbc.com
Traders caution against buying travel stocks: 'When in doubt, stay out'
Travel stocks are tumbling. Royal Caribbean and Norwegian Cruise Line Holdings are down over 50% year to date, with Carnival not far behind at a 45% loss. "We don't know where this goes, and we still need to figure out what the bottom looks like," she said, warning that "the cruise industry, airline industry, hotel industry, they're not going to be able to recoup this later." Stocks like Carnival are down over 60% just since the highs were made back in January 2018." The transports as a whole remain "a very weak group," Newton said.cnbc.com
Italian stocks plunge over 5% as coronavirus shuts down towns, schools and soccer matches
Italian stocks plunged in Monday trade, as the euro zone's third-largest economy grappled with the largest coronavirus outbreak outside of Asia. Shares of Italian banks fell sharply while the stock of Juventus soccer club was briefly halted after falling 11%. Schools, museums, universities and cinemas have been closed while other public events, including Serie A soccer matches, have been canceled. A woman wear a protective mask in Venice, Italy, on February 23, 2020 due to concerns over coronavirus infection. Earlier in February, and before the virus hit the country, the bank warned that the coronavirus could have a significant impact on the Italian economy.cnbc.com
Coronavirus shuts Venices Carnival and threatens Italys economy
Its like the war here, nothing like this has been seen since 1945, said Francesco Passerini, the mayor of Codogno, one of the quarantined towns in Lombardy. By striking the heart of Italys wealthy, industrial northern heartland, the virus could yet help tilt the stuttering Italian economy into recession. Prime Minister Giuseppe Conte on Monday said the outbreak could have a very strong impact on Italys economy. But in Codogno, quarantined residents were taking no chances and staying home or donning masks to join the long lines and the few open food stores. Its surreal but calm, said Giuseppe Felisi, a financial advisor who lives in Bertonico, one of the quarantined towns.latimes.com
Carnival stock's rally is a sign 'this market is driven by hope,' Jim Cramer says
Carnival stock managed to bounce as investors attempt to get ahead of the coronavirus story, CNBC's Jim Cramer said Wednesday. "When you see Carnival stock up 2.6% today on the possibility of a big but quantifiable chunk of earnings going away, well, you know this market is driven by hope." In the broader market, Cramer attributed the gains on Wall Street to easing fears over the epidemic in China and results from the New Hampshire primary. "That sums up the prevailing view on Wall Street, though: They're confident Sanders will lose if he's the nominee," Cramer said. Last time Wall Street was pretty convinced that Hillary [Clinton] had it locked up, right?"cnbc.com
Dow soars more than 400 points, Tesla surge leads Nasdaq to all-time high
The Dow Jones Industrial Average closed 407.82 points higher, or 1.4%, at 28,807.63. The S&P 500 gained 1.5% to end at 3,297.59 while the Nasdaq Composite advanced 2.1% to a record of 9,467.97. Tesla, meanwhile, powered the Nasdaq with a surge of more than 13% that lifted the stock above $900 for the first time. Billionaire investor Ron Baron, a longtime Tesla bull, said Tuesday that Tesla could see revenues of $1 trillion in 10 years. At its high of the day, Tesla had surged more than 24%.cnbc.com
Leah Chases enduring legacy and independent spirit remembered on this Twelfth Night
But to fully appreciate Chases legacy, let alone learn from it, we need to keep in mind that her independent spirit was the bedrock of who she was. Leah Chasep prepares lunch at her restaurant Dooky Chases in New Orleans on Jan. 20, 2009. Dooky Chase restaurant is located across the street from what was once the Lafitte public housing project. He was a good man, Chase recalled. When the Mardi Gras season culminates on Fat Tuesday itself, the Zulu Social Aid and Pleasure Club will pass in front of Dooky Chase as it always does.latimes.com
Man on cruise ship goes overboard
The Carnival Dream departed Galveston, Texas, Thursday on a four-day cruise when a guest went overboard. GALVESTON, Texas - The Coast Guard is searching for a 26-year-old man who was reported overboard from a Carnival cruise ship Thursday evening. The Carnival Dream departed Galveston, Texas, Thursday on a four-day cruise when the guest went overboard, Carnival said in a statement to CNN. A 22-year-old man with autism was on a cruise to Mexico with a nonprofit organization that works with disabled adults when he climbed over a deck rail and went missing, according to the cruise line. Days earlier, a 26-year-old man went overboard from a ship 35 miles south of the Florida Keys, sparking search and rescue efforts.