Why Carnival Corporation Rallied 24.1% in June
Shares of Carnival Corporation (NYSE: CCL) rallied 24.1% in June, according to data from S&P Global Market Intelligence.
Carnival actually didn't start the month particularly well, as one prominent Wall Street analyst warned investors over cruise companies' pricing power as May turned to June. Yet, Carnival's second-quarter earnings report told a much different story, as the company's revenue and profitability trounced expectations, as did its guidance.
Carnival actually started June on a downbeat note after Bank of America analyst Andrew Didora wrote a note saying that cruise prices had come down slightly in June relative to early May.
Source Fool.com