Carnival Corporation & plc engages in the provision of leisure travel services in North America, Australia, Europe, Asia, and internationally. The company operates through four segments: NAA Cruise Operations, Europe Cruise Operations, Cruise Support, and Tour and Other. It operates port destinations, private islands, and a solar park, as well as owns and operates hotels, lodges, glass-domed railcars, and motor coaches. The company offers its services under the Carnival Cruise Line, Princess Cruises, Holland America Line, Seabourn, Costa Cruises, AIDA Cruises, P&O Cruises, and Cunard brand. Additionally, it sells its cruises primarily through travel agents, tour operators, vacation planners, and websites. Carnival Corporation & plc was founded in 1972 and is headquartered in Miami, Florida.

Carnival Corporation демонстрирует смешанную фундаментальную картину. С одной стороны, компания имеет высокие показатели рентабельности, такие как ROE на уровне 27.27%, что значительно выше медианы отрасли, и положительные тренды по чистой прибыли и валовой марже. Однако, с другой стороны, мультипликатор P/E составляет 16.12 и значительно ниже медианы отрасли, что может указывать на недооцененность. Долговая нагрузка компании также вызывает беспокойство, так как коэффициент задолженности к капиталу достигает 2.58, что существенно выше медианных значений. Дивидендная доходность снизилась до 0.47 по сравнению с предыдущими годами, что может негативно отразиться на привлечении инвесторов. Операционные показатели, такие как выручка, остаются высокими, что создает позитивный фон. В целом, компания может рассматриваться как недооцененная, но высокие уровни долговой нагрузки и снижение дивидендов подчеркивают риски для инвесторов.

Carnival Corporation

Key Points
Despite economic and political worries, the cruise industry has no shortage of fuel or customers.
Most cruise line stocks already traded at low valuations.
Amid the war in Iran and the virtual closing of the Strait of Hormuz, the focus has shifted back to oil prices and their effects on the economy. Oil prices have some impact on virtually all industries, but it is especially acute in the cruise line industry, as cruise ships depend on petroleum to operate.
Nonetheless, if these consumer discretionary stocks fall, now is probably a buying opportunity, and here's why.
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1. Worries about high prices are likely overdone
Cruise line stock investors are probably going to watch the oil market more carefully. The Strait of Hormuz, the waterway where tankers transport 20% of the world's crude oil, is virtually shut down amid the war. That caused oil prices to spike above $115 per barrel before pulling back a few hours later to the $88 per-barrel range as of the time of this writing.
The volatility in the price indicates that worries, rather than actual shortages, fueled the volatility. While the cruise industry's bottom lines could be significantly impacted if the high prices persist, for now, panicking is likely premature.
However, the run-up in oil prices may be overdone as the market continues to be well supplied.
Additionally, the economic worries in recent months have not dampened demand for cruise vacations if the financials of cruise lines like Royal Caribbean (NYSE: RCL) or Viking Holdings (NYSE: VIK) are any indication.
Amid record booking levels, demand has exceeded supply, meaning these companies have not had to discount much to fill ships. Amid such conditions, demand is less likely to fall if they have to pass on some of that cost to consumers.
2. Valuations
Furthermore, despite high occupancy levels, most cruise line stocks are not expensive, with all but Viking trading at price-to-earnings (P/E) ratios below the S&P 500 average of 29.
This is particularly true of Royal Caribbean and market leader Carnival Corp (NYSE: CCL), whose P/E ratios are now in the teens, leaving little further downside for these stocks.
The low valuations have little to do with oil prices and are likely impacted by debt levels. Most of these companies ran up massive debts during the pandemic when governments barred them from sailing.
However, they have also reduced those debts significantly and steadily refinanced existing debt at lower rates. The only reason they are not falling faster is that the cruise lines continue to build ships to meet the high demand for cruises.
Cruise line stocks should continue to keep sailing
Given the state of the industry, high oil prices should not derail cruise line stocks.
Admittedly, the blockage of a major shipping lane for the oil industry is concerning and certainly, rising prices and geopolitical tensions have pressured travel-related stocks. If prices stayed high for months or years, that could negatively impact these stocks.
Nonetheless, supplies have so far not been impacted, and the fact that cruise demand continues to exceed supply should make it easier for cruise lines to pass on costs. Moreover, since most of these stocks already traded at low valuations, the oil price scare likely amounts to a more lucrative buying opportunity rather than a reason to avoid these stocks.
Should you buy stock in Carnival Corp. right now?
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Will Healy has no position in any of the stocks mentioned. The Motley Fool recommends Carnival Corp. and Viking. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

2 Reasons Not to Give Up on Cruise Line Stocks

Key Points
Tabor Asset Management increased its Madison Square Garden Sports (MSGS) stake by 29,985 shares
The quarter-end position value rose by $8.19 million, reflecting both new purchases and stock price appreciation.
The transaction represented 2.75% of the fund’s 13F reportable assets under management (AUM).
Post-trade, the fund held 43,778 shares valued at $11.32 million, or 4.57% of AUM.
This position places Madison Square Garden Sports outside the fund’s top five holdings.
What happened
According to a February 17, 2026 SEC filing, Tabor Asset Management, LP bought 29,985 shares of Madison Square Garden Sports (NYSE:MSGS). The fund’s quarter-end position value increased by $8.19 million, reflecting both the new purchase and changes in the stock’s price during the period.
What else to know
The buy increased the position to 43,778 shares, representing 4.57% of Tabor Asset Management’s 13F reportable AUM after the filing.
Top holdings after the filing:
NASDAQ: FIVE: $18.05 million (7.3% of AUM)
NASDAQ: LZ: $17.51 million (7.1% of AUM)
NYSE: W: $16.94 million (6.8% of AUM)
NYSE: MHK: $16.86 million (6.8% of AUM)
NYSE: CCL: $13.77 million (5.6% of AUM)
As of February 13, 2026, Madison Square Garden Sports shares were priced at $291.48, up 38.1% over the past year, outperforming the S&P 500 by 26.36 percentage points.
Company overview
Price (as of market close February 13, 2026)
$291.48
Market capitalization
$7.51 billion
Revenue (TTM)
$1.07 billion
Net income (TTM)
$-16.56 million
Company snapshot
Madison Square Garden Sports is a leading owner of major sports and esports franchises, with a diversified portfolio that positions it to benefit from rising media rights values and sponsorship opportunities. Its strategic focus on premium entertainment assets and established market presence provides a competitive edge in the sports and entertainment industry.
The company owns and operates professional sports franchises, including the New York Knicks (NBA), New York Rangers (NHL), Hartford Wolf Pack (AHL), and Westchester Knicks (NBA G League). It also Operates esports teams such as Knicks Gaming and Counter Logic Gaming, expanding its presence in digital entertainment.
Madison Square Garden Sports focuses on leveraging iconic brands and a loyal fan base to generate recurring revenue from media rights, sponsorships, and merchandising.
What this transaction means for investors
Professional sports franchises occupy a unique position in the investment landscape because their long-term value is tied not only to operating performance but also to the scarcity of league ownership. Madison Square Garden Sports Corp. owns two of the most recognizable global franchises, the New York Knicks (NBA) and the New York Rangers (NHL). These assets benefit from league-wide media rights growth and the premium associated with teams in major markets such as New York.
Unlike many entertainment companies that rely on quarterly earnings growth, sports franchise owners often experience long-term asset appreciation as media contracts expand and ownership remains limited. Team valuations in major leagues have risen steadily in recent decades, driven by global broadcast demand, sponsorship growth, and competition among wealthy buyers for a limited number of franchises.
For investors, the key question is whether the franchise values continue to outpace the teams’ underlying business performance, including ticket sales, sponsorships, and media-rights revenue. If league media rights and fan monetization continue to expand, Madison Square Garden Sports may be valued more as a scarce sports asset vehicle than as a conventional operating company.
Should you buy stock in Madison Square Garden Sports right now?
Before you buy stock in Madison Square Garden Sports, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Madison Square Garden Sports wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $511,735!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,140,464!*
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*Stock Advisor returns as of March 12, 2026.
Eric Trie has no position in any of the stocks mentioned. The Motley Fool recommends Carnival Corp., Five Below, and Wayfair. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Madison Square Garden Sports Gains Tabor Backing as Knicks and Rangers Franchise Values Climb

The S&P 500 Index ($SPX) (SPY) on Thursday closed down -1.52%, the Dow Jones Industrial Average ($DOWI) (DIA) closed down -1.56%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -1.73%. March E-mini S&P futures (ESH26) fell -1.49%, and March E-mini Nasdaq futures (NQH26) fell -1.75%.
Stocks fell sharply on Thursday as a surge in crude oil prices stoked fears that the war against Iran would crimp global fuel supplies and boost inflation. WTI crude oil prices soared more than +9% on Thursday amid widening disruptions to crude production and transport in the Middle East.
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Stocks extended their losses on Thursday, and crude prices added to their gains on comments from Iran’s Supreme Leader Ayatollah Mojtaba Khamenei, who said that Iran’s leverage of closing the Strait of Hormuz should be used, and attacks on Gulf Arab neighbors will continue. He added that Iran will open unspecified “other fronts” in the war if the US and Israel persist with their attacks. Also, comments from President Trump gave crude prices a boost when he said that preventing Iran from having nuclear weapons is "of far greater interest and importance" to him than the cost of oil, a sign that the war in the Middle East isn't close to a de-escalation.
Credit concerns weighed on bank stocks and asset managers on Thursday after Morgan Stanley and Cliffwater LLC capped withdrawals from their private credit funds amid investor demand to redeem more than the funds allow. Private credit funds are grappling with a wave of redemption requests amid growing concerns over the quality of their loans. BlackRock last week decided to limit withdrawals, a move that other asset managers have since followed.
Crude oil prices rallied sharply on Thursday despite the IEA members' decision on Wednesday to release 400 million barrels from emergency oil stockpiles. The IEA said the war against Iran is disrupting 7.5% of global oil supply, and the conflict will cut global oil supply by 8 million bpd this month. The closure of the Strait of Hormuz, through which about a fifth of the world’s oil and natural gas flows, has choked off oil and gas flows due to Iran’s attacks on shipping in the waterway and forced Gulf producers to cut output because they can’t export from the region. UK Defense Secretary Healey said Thursday that it is increasingly evident that Iran is laying mines in the Strait of Hormuz, which could keep the strait closed for the foreseeable future.
Iran’s President Masoud Pezeshkian said his country would need “firm international guarantees against future aggression” to accept a ceasefire as well as reparations. However, comments from President Trump late Wednesday suggest the conflict could continue for weeks when he said that it would be unwise for the US to wind down hostilities too soon.
US economic news on Thursday was mixed for stocks after weekly jobless claims rose less than expected, a sign of labor market strength. Also, Jan housing starts unexpectedly rose to an 11-month high, but Jan building permits fell to a 5-month low.
US weekly initial unemployment claims fell -1,000 to 213,000, showing a stronger labor market than expectations of an increase to 215,000.
US Jan housing starts unexpectedly rose +7.2% m/m to an 11-month high of 1.487 million, stronger than expectations of a decline to 1.341 million. Jan building permits, a proxy for future construction, fell -5.4% m/m to a 5-month low of 1.376 million, weaker than expectations of 1.410 million.
The US Jan trade deficit shrank to -$54.5 billion, narrower than expectations of -$66.0 billion.
Q4 earnings season is nearly over, with more than 98% of the S&P 500 companies having reported earnings results. Earnings have been a positive factor for stocks, with 74% of the 495 S&P 500 companies that have reported beating expectations. According to Bloomberg Intelligence, S&P earnings growth is expected to climb by +8.4% in Q4, marking the tenth consecutive quarter of year-over-year growth. Excluding the Magnificent Seven megacap technology stocks, Q4 earnings are expected to increase by +4.6%.
The markets are discounting a 0% chance for a -25 bp FOMC rate cut at the next policy meeting on March 17-18.
Overseas stock markets settled lower on Thursday. The Euro Stoxx 50 closed down -0.79%. China's Shanghai Composite fell from a 1-week high and closed down -0.10%. Japan's Nikkei Stock 225 closed down -1.04%.
Interest Rates
June 10-year T-notes (ZNM6) on Thursday closed down by -18.5 ticks. The 10-year T-note yield rose +3.9 bp to 4.269%. June T-notes fell to a 5-week low on Thursday, and the 10-year T-note yield climbed to a 5-week high of 4.275%. Thursday’s +9% rally in oil prices raised inflation expectations and undercut T-note prices. Also, concerns that the cost of the ongoing war against Iran will boost the US budget deficit are bearish for T-notes. On the positive side for T-notes on Thursday was strong demand for the Treasury’s $22 billion auction of 30-year T-bonds that had a bid-to-cover ratio of 2.45, above the 10-auction average of 2.39.
European government bond yields moved higher on Thursday. The 10-year German bund yield rose to a 2.25-year high of 2.962% and finished up +2.5 bp to 2.957%. The 10-year UK gilt yield climbed to a 6.25-month high of 4.800% and finished up +8.7 bp to 4.773%.
The European Union's economy chief, Valdis Dombrovskis, said the inflation rate could surpass 3% this year, and GDP in the Eurozone could be as much as -0.4 points lower if the war in the Middle East causes crude oil prices to remain around $100 per barrel and gas prices stay elevated for an extended period.
Swaps are discounting a 3% chance of a -25 bp ECB rate hike at its next policy meeting on March 19.
US Stock Movers
Airline stocks and cruise line operators sold off on Thursday amid a 9% surge in crude oil prices, which are boosting companies’ fuel costs and threatening earnings. Carnival (CCL) and Southwest Airlines (LUV) closed down more than -7%, and Alaska Air Group (ALK) and Royal Caribbean Cruises (RCL) closed down more than -6%. Also, United Airlines Holdings (UAL), Norwegian Cruise Line Holdings (NCLH), and American Airlines Group (AAL) closed down more than -4%. In addition, Delta Airlines (DAL) closed down more than -2%.
Chip stocks retreated on Thursday, weighing on the broader market. Intel (INTC) closed down more than -5%, and Lam Research (LRCX), ARM Holdings Plc (ARM), Microchip Technology (MCHP), and Texas Instruments (TXN) closed down more than -4%. Also, Applied Materials (AMAT), KLA Corp (KLAC), Analog Devices (ADI), Advanced Micro Devices (AMD), Micron Technology (MU), and Marvell Technology (MRVL) closed down more than -3%.
Credit concerns weighed on bank stocks and asset managers on Thursday after Morgan Stanley and Cliffwater LLC capped withdrawals from their private credit funds amid investor demand to redeem more than the funds allow. Ares Management (ARES) closed down more than -6%, and
Goldman Sachs (GS) closed down more than -4% to lead losers in the Dow Jones Industrials. Also, Morgan Stanley (MS), KKR & Co (KKR), and Citigroup (C) closed down more than -3%.
The Magnificent Seven technology stocks fell on Thursday, pressuring the broader market. Tesla (TSLA) closed down more than -3%, and Meta Platforms (META) closed down more than -2%. Also, Alphabet (GOOGL), Apple (AAPL), Amazon.com (AMZN), and Nvidia (NVDA) closed down more than -1%, and Microsoft (MSFT) closed down -0.73%.
Fertilizer stocks rallied on Thursday amid supply disruptions from the closure of the Strait of Hormuz. CF Industries Holdings (CF) closed up more than +13% to lead gainers in the S&P 500. Also, Intrepid Potash (IPI) closed up more than +10%, and Mosaic (MOS) closed up more than +7%.
Energy producers and service providers rose on Thursday after crude prices jumped more than +9%. ConocoPhillips (COP), Chevron (CVX), Phillips 66 (PSX), and Valero Energy (VLO) closed up more than -2%. Also, APA Corp (APA), Devon Energy (DVN), Exxon Mobil (XOM), and Marathon Petroleum (MPC) closed up more than +1%.
Netskope (NTSK) closed down more than -21% after forecasting a Q1 adjusted net loss per share of -6 cents to -7 cents, wider than Q4’s -4 cent EPS loss.
G-III Apparel Group Ltd (GIII) closed down more than -11% after reporting Q4 net sales of $771.5 million, below the consensus of $791.8 million.
UiPath (PATH) closed down more than -7% after reporting Q4 subscription revenue of $251.2 million, below the consensus of $252.1 million.
Dollar General (DG) closed down more than -6% after giving an underwhelming 2027 comparable sales forecast of up +2.2% to +2.7%, the midpoint right on the consensus of +2.45%.
GlobalFoundries (GFS) closed down more than -5% after a subsidiary of Mubadala Investment Co. was said to sell as much as $852 million of its stake in the stock overnight at $41.60 to $42.60 per share.
MercadoLibre (MELI) closed down more than -4% after JPMorgan Chase downgraded the stock to neutral from overweight.
LyondellBasell Industries NV (LYB) closed up more than +10% after Citigroup upgraded the stock to buy from neutral with a price target of $76.
Dow Inc. (DOW) closed up more than +9% after Citigroup upgraded the stock to buy from neutral with a price target of $40.
Occidental Petroleum (OXY) closed up more than +5% after Wells Fargo Securities double upgraded the stock to overweight from underweight with a price target of $69.
Earnings Reports(3/13/2026)
4D Molecular Therapeutics Inc (FDMT), Actuate Therapeutics Inc (ACTU), AirSculpt Technologies Inc (AIRS), AlTi Global Inc (ALTI), American Vanguard Corp (AVD), Avidity Biosciences Inc (RNAM), Better Home & Finance Holding (BETR), Bit Digital Inc (BTBT), Blue Foundry Bancorp (BLFY), Buckle Inc/The (BKE), CapsoVision Inc (CV), Citizens Inc/TX (CIA), Emerald Holding Inc (EEX), Eve Holding Inc (EVEX), GoHealth Inc (GOCO), Gossamer Bio Inc (GOSS), John Marshall Bancorp Inc (JMSB), LENSAR Inc (LNSR), MeiraGTx Holdings plc (MGTX), NET Lease Office Properties (NLOP), Perma-Fix Environmental Services (PESI), Value Line Inc (VALU), Waldencast plc (WALD).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Slump on Iran War and Credit Woes

The S&P 500 Index ($SPX) (SPY) today is down -1.22%, the Dow Jones Industrial Average ($DOWI) (DIA) is down -1.32%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -1.46%. March E-mini S&P futures (ESH26) are down -1.20%, and March E-mini Nasdaq futures (NQH26) are down -1.40%.
Stocks are under pressure today as crude oil prices keep rising amid widening disruptions to production and transport in the Middle East. WTI crude oil prices are up more than +9% today after Iraq suspended oil terminal activity following an attack by Iran on two tankers. Oman also temporarily evacuated a key oil export hub at Mina Al Fahal, and Iran escalated attacks on Dubai.
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Stocks extended their losses today, and crude prices added to their gains on comments from Iran’s Supreme Leader Ayatollah Mojtaba Khamenei, who said that Iran’s leverage of closing the Strait of Hormuz should be used and attacks on Gulf Arab neighbors will continue. He added that Iran will open unspecified “other fronts” in the war if the US and Israel persist with their attacks.
Credit concerns are weighing on bank stocks and asset managers today after Morgan Stanley and Cliffwater LLC capped withdrawals from their private credit funds amid investor demand to redeem more than the funds allow. Private credit funds are grappling with a wave of redemption requests amid growing concerns over the quality of their loans. BlackRock last week decided to limit withdrawals, a move that other asset managers have since followed.
Crude oil prices are moving higher today despite the IEA members' decision on Wednesday to release 400 million barrels from emergency oil stockpiles. The IEA said the war against Iran is disrupting 7.5% of global oil supply, and the conflict will cut global oil supply by 8 million bpd this month. The closure of the Strait of Hormuz, through which about a fifth of the world’s oil and natural gas flows, has choked off oil and gas flows due to Iran’s attacks on shipping in the waterway and forced Gulf producers to cut output because they can’t export from the region.
Iran’s President Masoud Pezeshkian said his country would need “firm international guarantees against future aggression” to accept a ceasefire as well as reparations. However, comments from President Trump late Wednesday suggest the conflict could continue for weeks when he said that it would be unwise for the US to wind down hostilities too soon.
US economic news today was mixed for stocks after weekly jobless claims rose less than expected, a sign of labor market strength. Also, Jan housing starts unexpectedly rose to an 11-month high, but Jan building permits fell to a 5-month low.
US weekly initial unemployment claims fell -1,000 to 213,000, showing a stronger labor market than expectations of an increase to 215,000.
US Jan housing starts unexpectedly rose +7.2% m/m to an 11-month high of 1.487 million, stronger than expectations of a decline to 1.341 million. Jan building permits, a proxy for future construction, fell -5.4% m/m to a 5-month low of 1.376 million, weaker than expectations of 1.410 million.
The US Jan trade deficit shrank to -$54.5 billion, narrower than expectations of -$66.0 billion.
Q4 earnings season is nearly over, with more than 95% of the S&P 500 companies having reported earnings results. Earnings have been a positive factor for stocks, with 74% of the 492 S&P 500 companies that have reported beating expectations. According to Bloomberg Intelligence, S&P earnings growth is expected to climb by +8.4% in Q4, marking the tenth consecutive quarter of year-over-year growth. Excluding the Magnificent Seven megacap technology stocks, Q4 earnings are expected to increase by +4.6%.
The markets are discounting a 0% chance for a -25 bp FOMC rate cut at the next policy meeting on March 17-18.
Overseas stock markets are lower. The Euro Stoxx 50 is down -1.30%. China's Shanghai Composite fell from a 1-week high and closed down -0.10%. Japan's Nikkei Stock 225 closed down -1.04%.
Interest Rates
June 10-year T-notes (ZNM6) are down by -8 ticks. The 10-year T-note yield is up +1.4 bp to 4.243%. June T-notes fell to a 5-week low today, and the 10-year T-note yield climbed to a 5-week high of 4.249%. Today’s +9% rally in oil prices is raising inflation expectations and undercutting T-note prices. Also, concerns that the cost of the ongoing war against Iran will boost the US budget deficit are bearish for T-notes. In addition, supply pressures are weighing on T-notes as the Treasury will auction $22 billion of 30-year bonds later today.
European government bond yields are moving higher today. The 10-year German bund yield rose to a 2.25-year high of 2.962% and is up +1.6 bp to 2.948%. The 10-year UK gilt yield is up +9.7 bp to 4.784%.
The European Union's economy chief, Valdis Dombrovskis, said the inflation rate could surpass 3% this year and GDP in the Eurozone could be as much as -0.4 points lower if the war in the Middle East causes crude oil prices to remain around $100 per barrel and gas prices stay elevated for an extended period.
Swaps are discounting a 3% chance of a -25 bp ECB rate hike at its next policy meeting on March 19.
US Stock Movers
Airline stocks and cruise line operators are falling today due to the 8% surge in crude oil prices, which are boosting companies’ fuel costs and threatening earnings. Carnival (CCL) and Royal Caribbean Cruises (RCL) are down more than -6%, and United Airlines Holdings (UAL) is down more than -4%. Also, Norwegian Cruise Line Holdings (NCLH), American Airlines Group (AAL), Alaska Air Group (ALK), and Southwest Airlines (LUV) are down more than -3%. In addition, Delta Airlines (DAL) is down more than -2%.
Chip stocks are sliding today, weighing on the broader market. Lam Research (LRCX), Applied Materials (AMAT), ARM Holdings Plc (ARM), Micron Technology (MU), and Intel (INTC) are down more than -4%. Also, ASML Holding NV (ASML), Analog Devices (ADI), Advanced Micro Devices (AMD), KLA Corp (KLAC), Microchip Technology (MCHP), and Texas Instruments (TXN) are down more than -3%.
Credit concerns are weighing on bank stocks and asset managers today after Morgan Stanley and Cliffwater LLC capped withdrawals from their private credit funds amid investor demand to redeem more than the funds allow. Morgan Stanley (MS) and KKR & Co (KKR) are down more than -4%. Also, Goldman Sachs (GS) is down more than -3% to lead losers in the Dow Jones Industrials. In addition, Citigroup (C) and Ares Management (ARES) are down more than -3%.
Fertilizer stocks are climbing today amid supply disruptions from the closure of the Strait of Hormuz. CF Industries Holdings (CF) is up more than +10% to lead gainers in the S&P 500. Also, Intrepid Potash (IPI) is up more than +8%, and Mosaic (MOS) is up more than +5%.
Netskope (NTSK) is down more than -24% after forecasting a Q1 adjusted net loss per share of -6 cents to -7 cents, wider than Q4’s -4 cent EPS loss.
G-III Apparel Group Ltd (GIII) is down more than -12% after reporting Q4 net sales of $771.5 million, below the consensus of $791.8 million.
GlobalFoundries (GFS) is down more than -6% after a subsidiary of Mubadala Investment Co. was said to sell as much as $852 million of its stake in the stock overnight at $41.60 to $42.60 per share.
Dollar General (DG) is down more than -5% after giving an underwhelming 2027 comparable sales forecast of up +2.2% to +2.7%, the midpoint right on the consensus of +2.45%.
UiPath (PATH) is down more than -5% after reporting Q4 subscription revenue of $251.2 million, below the consensus of $252.1 million.
MercadoLibre (MELI) is down more than -5% to lead losers in the Nasdaq 100 after JPMorgan Chase downgraded the stock to neutral from overweight.
Dow Inc. (DOW) is up more than +6% after Citigroup upgraded the stock to buy from neutral with a price target of $40.
LyondellBasell Industries NV (LYB) is up more than +5% after Citigroup upgraded the stock to buy from neutral with a price target of $76.
Occidental Petroleum (OXY) is up more than +4% after Wells Fargo Securities double upgraded the stock to overweight from underweight with a price target of $69.
Atlassian Corp (TEAM) is up more than +2% after announcing a restructuring that will eliminate about 10% of its workforce. UBS upgraded the stock to buy from neutral with a price target of $97.
Earnings Reports(3/12/2026)
Dollar General Corp (DG), Ulta Beauty Inc (ULTA), Lennar Corp (LEN), Adobe Inc (ADBE).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Retreat Amid Rising Crude Prices and Credit Worries

The S&P 500 Index ($SPX) (SPY) today is down -0.88%, the Dow Jones Industrial Average ($DOWI) (DIA) is down -1.06%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -1.03%. March E-mini S&P futures (ESH26) are down -0.97%, and March E-mini Nasdaq futures (NQH26) are down -1.10%.
Stocks are under pressure today as crude oil prices keep rising amid widening disruptions to production and transport in the Middle East. WTI crude oil prices are up more than +8% today after Iraq suspended oil terminal activity following an attack by Iran on two tankers. Oman also temporarily evacuated a key oil export hub at Mina Al Fahal, and Iran escalated attacks on Dubai. Crude prices extended their gains today on comments from Iran’s Supreme Leader Ayatollah Mojtaba Khamenei, who said that Iran’s leverage of closing the Strait of Hormuz should be used and attacks on Gulf Arab neighbors will continue.
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Crude oil prices are moving higher today despite the IEA members' decision on Wednesday to release 400 million barrels from emergency oil stockpiles. The IEA said the war against Iran is disrupting 7.5% of global oil supply, and the conflict will cut global oil supply by 8 million bpd this month. The closure of the Strait of Hormuz, through which about a fifth of the world’s oil and natural gas flows, has choked off oil and gas flows due to Iran’s attacks on shipping in the waterway and forced Gulf producers to cut output because they can’t export from the region.
Iran’s President Masoud Pezeshkian said that his country would need “firm international guarantees against future aggression” to accept a ceasefire as well as reparations. However, comments from President Trump late Wednesday suggest the conflict could continue for weeks when he said that it would be unwise for the US to wind down hostilities too soon.
US economic news today was mixed for stocks after weekly jobless claims rose less than expected, a sign of labor market strength. Also, Jan housing starts unexpectedly rose to an 11-month high, but Jan building permits fell to a 5-month low.
US weekly initial unemployment claims fell -1,000 to 213,000, showing a stronger labor market than expectations of an increase to 215,000.
US Jan housing starts unexpectedly rose +7.2% m/m to an 11-month high of 1.487 million, stronger than expectations of a decline to 1.341 million. Jan building permits, a proxy for future construction, fell -5.4% m/m to a 5-month low of 1.376 million, weaker than expectations of 1.410 million.
The US Jan trade deficit shrank to -$54.5 billion, narrower than expectations of -$66.0 billion.
Q4 earnings season is nearly over, with more than 95% of the S&P 500 companies having reported earnings results. Earnings have been a positive factor for stocks, with 74% of the 492 S&P 500 companies that have reported beating expectations. According to Bloomberg Intelligence, S&P earnings growth is expected to climb by +8.4% in Q4, marking the tenth consecutive quarter of year-over-year growth. Excluding the Magnificent Seven megacap technology stocks, Q4 earnings are expected to increase by +4.6%.
The markets are discounting a 0% chance for a -25 bp FOMC rate cut at the next policy meeting on March 17-18.
Overseas stock markets are lower. The Euro Stoxx 50 is down -0.86%. China's Shanghai Composite fell from a 1-week high and closed down -0.10%. Japan's Nikkei Stock 225 closed down -1.04%.
Interest Rates
June 10-year T-notes (ZNM6) are down by -9 ticks. The 10-year T-note yield is up +1.6 bp to 4.245%. June T-notes fell to a 5-week low today, and the 10-year T-note yield climbed to a 5-week high of 4.249%. Today’s +8% rally in oil prices is raising inflation expectations and undercutting T-note prices. Also, concerns that the cost of the ongoing war against Iran will boost the US budget deficit are bearish for T-notes. In addition, supply pressures are weighing on T-notes as the Treasury will auction $22 billion of 30-year bonds later today.
European government bond yields are mixed today. The 10-year German bund yield rose to a 2.25-year high of 2.958% and is up +1.2 bp to 2.944%. The 10-year UK gilt yield is up +5.3 bp to 4.739%.
The European Union's economy chief, Valdis Dombrovskis, said the inflation rate could surpass 3% this year and GDP in the Eurozone could be as much as -0.4 points lower if the war in the Middle East causes crude oil prices to remain around $100 per barrel and gas prices stay elevated for an extended period.
Swaps are discounting a 4% chance of a -25 bp ECB rate hike at its next policy meeting on March 19.
US Stock Movers
Airline stocks and cruise line operators are falling today due to the 8% surge in crude oil prices, which are boosting companies’ fuel costs and threatening earnings. Carnival (CCL), Royal Caribbean Cruises (RCL), Norwegian Cruise Line Holdings (NCLH), United Airlines Holdings (UAL), American Airlines Group (AAL), Alaska Air Group (ALK), and Southwest Airlines (LUV) are down more than -3%. Also, Delta Airlines (DAL) is down more than -2%.
Chip stocks are sliding today, weighing on the broader market. Lam Research (LRCX), Applied Materials (AMAT), and Micron Technology (MU) are down more than -3%. Also, ASML Holding NV (ASML), Intel (INTC), Analog Devices (ADI), Advanced Micro Devices (AMD), KLA Corp (KLAC), ARM Holdings Plc (ARM), Microchip Technology (MCHP), and Texas Instruments (TXN) are down more than -2%.
Fertilizer stocks are climbing today amid supply disruptions from the closure of the Strait of Hormuz. CF Industries Holdings (CF) is up more than +7% to lead gainers in the S&P 500. Also, Intrepid Potash (IPI) and Mosaic (MOS) are up more than +4%.
Netskope (NTSK) is down more than -22% after forecasting a Q1 adjusted net loss per share of -6 cents to -7 cents, wider than Q4’s -4 cent EPS loss.
G-III Apparel Group Ltd (GIII) is down more than -14% after reporting Q4 net sales of $771.5 million, below the consensus of $791.8 million.
Dollar General (DG) is down more than -7% to lead losers in the S&P 500 after giving an underwhelming 2027 comparable sales forecast of up +2.2% to +2.7%, the midpoint right on the consensus of +2.45%.
UiPath (PATH) is down more than -5% after reporting Q4 subscription revenue of $251.2 million, below the consensus of $252.1 million.
MercadoLibre (MELI) is down more than -4% to lead losers in the Nasdaq 100 after JPMorgan Chase downgraded the stock to neutral from overweight.
GlobalFoundries (GFS) is down more than -4% after a subsidiary of Mubadala Investment Co. was said to sell as much as $852 million of its stake in the stock overnight at $41.60 to $42.60 per share.
Dow Inc. (DOW) is up more than +6% after Citigroup upgraded the stock to buy from neutral with a price target of $40.
Atlassian Corp (TEAM) is up more than +4% after announcing a restructuring that will eliminate about 10% of its workforce. UBS upgraded the stock to buy from neutral with a price target of $97.
Occidental Petroleum (OXY) is up more than +3% after Wells Fargo Securities double upgraded the stock to overweight from underweight with a price target of $69.
LyondellBasell Industries NV (LYB) is up more than +3% after Citigroup upgraded the stock to buy from neutral with a price target of $76.
Earnings Reports(3/12/2026)
Dollar General Corp (DG), Ulta Beauty Inc (ULTA), Lennar Corp (LEN), Adobe Inc (ADBE).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Fall as Oil Prices Continue to Climb

In early trading on Thursday, shares of CF Industries Holdings topped the list of the day's best performing components of the S&P 500 index, trading up 8.2%. Year to date, CF Industries Holdings registers a 68.0% gain.
And the worst performing S&P 500 component thus far on the day is Dollar General, trading down 7.4%. Dollar General is showing a gain of 1.0% looking at the year to date performance.
Two other components making moves today are Carnival, trading down 4.8%, and Mosaic, trading up 4.9% on the day.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

S&P 500 Movers: DG, CF

Norwegian Cruise Line Holdings Ltd. NCLH is entering 2026 with a cautious outlook for net yield growth as the company works through operational adjustments tied to recent deployment and commercial strategy changes. Management indicated that net yields for the full year are expected to remain approximately flat, reflecting pricing pressure across select itineraries and regions as the company works to improve coordination across its commercial functions.
The outlook reflects alignment challenges identified across deployment and commercial execution. Management noted that certain deployment decisions, including a shift in capacity toward the Caribbean, were implemented before supporting commercial initiatives were fully ready. As a result, revenue management, marketing, pricing and itinerary planning were not fully coordinated at the time of the shift, contributing to yield pressure.
Developments related to the company’s Caribbean strategy also influenced near-term dynamics. Management stated that capacity in the region was increased ahead of the full buildout of enhancements at its private destination, Great Stirrup Cay. As a result, the supporting commercial and destination initiatives were not fully aligned with the deployment shift, contributing to pricing and yield pressure.
Beyond the Caribbean, Norwegian Cruise also cited execution challenges tied to certain European itineraries as well as broader industry capacity expansion in Alaska. Management noted that the company entered 2026 slightly behind its optimal booking curve in select markets, contributing to pricing pressure across certain itineraries.
While yield growth is expected to remain constrained in the near term, Norwegian Cruise continues to focus on operational discipline and structural improvements across the business. Management emphasized ongoing efforts to strengthen revenue management capabilities, improve coordination between deployment and commercial planning and maintain cost discipline as the company works to improve execution over time.
NCLH’s Price Performance, Valuation & Estimates
Shares of Norwegian Cruise have gained 10.3% in the past year compared with the industry’s growth of 14.4%. In the same time frame, other industry players like Royal Caribbean Cruises Ltd. RCL, Carnival Corporation & plc CCL and OneSpaWorld Holdings Limited OSW have gained 37.2%, 35.8% and 27.2%, respectively.
NCLH One-Year Price Performance
Image Source: Zacks Investment Research
NCLH stock is currently trading at a discount. It is currently trading at a forward 12-month price-to-earnings (P/E) multiple of 7.86, well below the industry average of 15.44. Industry players, such as Royal Caribbean, Carnival and OneSpaWorld have P/E ratios of 15.41, 10.02 and 18.12, respectively.
NCLH’s P/E Ratio (Forward 12-Month) vs. Industry
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Norwegian Cruise’s 2026 earnings per share has declined in the past 30 days.
EPS Trend of NCLH Stock
Image Source: Zacks Investment Research
The company is likely to report solid earnings, with projections indicating a 19.4% rise in 2026. Industry players like Royal Caribbean, Carnival and OneSpaWorld are likely to witness a jump of 15.7%, 12% and 13.1%, respectively, year over year in 2026 earnings.
NCLH stock has a Zacks Rank #5 (Strong Sell).
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NCLH Guides Flat Net Yields for 2026 Amid Execution Challenges

Royal Caribbean Cruises Ltd. RCL continues to demonstrate strong operating momentum, supported by solid demand for cruise vacations and disciplined execution across its business. The company generated adjusted EBITDA of more than $7 billion in 2025, marking a 17.6% year-over-year increase. The growth was backed by strong demand for its vacation experiences and operational performance across its portfolio of brands.
Royal Caribbean expects profitability to continue improving in 2026. The company projects adjusted EBITDA to come in slightly below $8 billion, representing about 13% growth year over year. Adjusted earnings per share are expected to be in the range of $17.70-$18.10, reflecting approximately 14% growth compared with the 2025 levels. Capacity is projected to increase about 6.7% as new ships enter service and recently delivered vessels contribute for the full year.
Demand trends remain supportive of this outlook. Management stated that roughly two-thirds of the company’s 2026 inventory has already been booked at higher rates, with booked load factors remaining within historical ranges. Booking activity has been strong across all commercial channels, including direct-to-consumer platforms.
Royal Caribbean emphasizes expanding its vacation offerings through new ships, exclusive destinations and technology investments designed to enhance guest experiences. The company is optimistic and anticipates the initiatives to support its strategy of growing capacity, maintaining pricing strength and expanding margins over time.
How RCL Stacks Up to Competitors
Two major competitors of Royal Caribbean Group are Carnival Corporation & plc CCL and Norwegian Cruise Line Holdings Ltd. NCLH, both of which are also pursuing profitability growth and operational improvements.
Carnival reported strong financial momentum in 2025, delivering record results across revenues, yields, operating income and EBITDA. The company generated more than $3 billion in net income and expects approximately $7.6 billion in EBITDA in 2026, supported by continued yield improvement and disciplined cost management. Carnival also highlighted strong booking trends, with about two-thirds of 2026 sailings already booked at historically high prices.
Norwegian Cruise is focusing on improving operational execution while maintaining cost discipline. In 2025, the company generated $2.73 billion in adjusted EBITDA, up 11% year over year, while adjusted EPS rose 19% to $2.11. However, management noted that certain deployment and commercial execution challenges have created near-term pressure on yields. Norwegian Cruise expects 2026 net yields to remain roughly flat.
Overall, Royal Caribbean’s projected EBITDA growth toward the $8 billion level places it ahead of peers in profitability expansion, suggesting the company may continue to benefit from strong demand and pricing power as the cruise industry grows.
RCL’s Price Performance, Valuation & Estimates
Shares of Royal Caribbean have gained 37.5% in the past year compared with the industry’s 13% growth.
RCL Stock’s One-Year Price Performance
Image Source: Zacks Investment Research
From a valuation standpoint, RCL trades at a forward price-to-earnings ratio of 15.33, below the industry’s average of 15.64.
RCL’s P/E Ratio (Forward 12-Month) vs. Industry
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for RCL’s 2026 earnings implies a year-over-year uptick of 15.7%. The EPS estimates for 2026 have increased in the past 60 days.
EPS Trend of RCL Stock
Image Source: Zacks Investment Research
RCL’s Zacks Rank
RCL stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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RCL's EBITDA Nears $8B Target: How Strong Is the Profitability Story?

Target Hospitality (TH) came out with a quarterly loss of $0.15 per share versus the Zacks Consensus Estimate of a loss of $0.1. This compares to earnings of $0.12 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -45.21%. A quarter ago, it was expected that this company would post a loss of $0.04 per share when it actually produced a loss of $0.01, delivering a surprise of +75%.
Over the last four quarters, the company has surpassed consensus EPS estimates just once.
Target Hospitality, which belongs to the Zacks Leisure and Recreation Services industry, posted revenues of $89.78 million for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 5.37%. This compares to year-ago revenues of $83.69 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Target Hospitality shares have lost about 0.4% since the beginning of the year versus the S&P 500's decline of 0.9%.
What's Next for Target Hospitality?
While Target Hospitality has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Target Hospitality was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.08 on $60.5 million in revenues for the coming quarter and -$0.20 on $276.17 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Leisure and Recreation Services is currently in the bottom 29% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Carnival (CCL), is yet to report results for the quarter ended February 2026.
This cruise operator is expected to post quarterly earnings of $0.18 per share in its upcoming report, which represents a year-over-year change of +38.5%. The consensus EPS estimate for the quarter has been revised 3.8% lower over the last 30 days to the current level.
Carnival's revenues are expected to be $6.1 billion, up 5% from the year-ago quarter.
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Zacks Investment Research has been committed to providing investors with tools and independent research since 1978. For more than a quarter century, the Zacks Rank stock-rating system has more than doubled the S&P 500 with an average gain of +24.08% per year. (These returns cover a period from January 1, 1988 through May 6, 2024.)
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Target Hospitality (TH) Reports Q4 Loss, Tops Revenue Estimates

Key Points
The stocks of cruise lines will continue to suffer as long as fuel prices remain elevated.
Brent crude is $27 higher per barrel than before the war started, and uncertainty abounds.
Last week, I wrote about how the war in the Middle East is hitting airline stocks hard, as it has pushed the price of jet fuel significantly higher while depressing demand for air travel. But there's another group of stocks getting hit even harder -- possibly the worst-faring stocks in the S&P 500 index since the war broke out.
I'm talking about cruise lines. Norwegian Cruise Lines Holdings (NYSE: NCLH) is down 21% since the war began, while Carnival (NYSE: CCL) (NYSE: CUK) has plummeted some 23%. Could this be a buying opportunity for investors?
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The reasons for the plunges in these stocks are similar to those of the airlines: Rising fuel prices and softening demand. Fuel is one of the largest expenses for cruise lines. A ship can consume 250 tons of fuel daily or more, at a cost of more than $100,000 per day. Right now, Brent crude, the international benchmark, is about $27 higher per barrel than it was right before the war. That's an increase of about 38%.
Carnival doesn't hedge its fuel purchases, so increases in the price of fuel directly affect the company's bottom line (that's a big reason it has fallen further than Norwegian, which does hedge). Companies hedge against fuel increases by using derivatives like futures and call options that can lock in prices and limit cost increases.
Geopolitical crises tend to depress demand for cruises
There's also the possibility of softening demand. Many cruises with Middle Eastern and Mediterranean routes have already been canceled. Analysts expect demand for cruise bookings to soften going forward, as vacationers become wary of international travel in times of war and geopolitical uncertainty.
Plus, most cruise lines reserve the right to impose fuel surcharges on passengers, which would also affect booking demand. The war comes in the wake of other problems for Norwegian. It underperformed Wall Street estimates for fourth-quarter revenue and issued soft guidance for the rest of the year.
Much like commercial airlines, cruise lines will continue to suffer if fuel prices remain elevated. Where crude oil prices will go is anybody's guess at the moment. Iran doesn't seem disposed to cave to U.S. demands any time soon, and it is working to expand the conflict, with missile launches into NATO-member country Turkey this week.
As a result, I think investors should avoid both airline and cruise line stocks until there is some clarity about the war -- or better, a clear end in sight. There are just too many unknowns and too much volatility to hold these stocks right now.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Indicator	TTM Median
P/E	15.62 20.02
Price/Sales	1.48 0.68
P/B	3.37 1.89
P/FCF	13.64 14.51

Indicator	TTM Median
ROE	25.44 14.81
ROA	5.29 5.17
ROI	7.67 8.61
Net Worth	44.23 0.87
Quick Ratio	0.28 0.88
Current Ratio	0.32 1.44

Indicator	TTM Median
Net Profit Margin	10.37 5.71
Operating Margin	16.84 8.20
Gross Margin	40.10 38.48
Return on tangible equity	33.62 21.87

Indicator	TTM Median
EPS	0.34 0.45
EPS Forecast	0.25 0.44
Revenue	6.33B 185.00M
Gross Profit	2.42B —
EBITDA	1.49B —

Carnival Corporation

TTM metrics for the latest quarter under IFRS and their historical dynamics

Valuation

Debts

Efficiency

Other ratios

Revenue