Why Carnival and Other Cruise Stocks Lagged the Market Today
Cruise-stock investors were left feeling mildly seasick on Wednesday, as the bellwether companies in the sector couldn't keep pace with the broader stock market. As the S&P 500 index inched nearly 1% higher, Royal Caribbean (NYSE: RCL) basically traded flat on the day, Carnival (NYSE: CCL)(NYSE: CUK) declined marginally, and Norwegian Cruise Line Holdings (NYSE: NCLH) fell by 1.4%.
The finger of blame for this can be pointed at white-shoe investment bank Morgan Stanley, which published a downbeat research note on the cruise industry Wednesday morning.
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Source Fool.com
