When it comes to a 401(k) account, most savers simply choose a “target date” funds and leave it that. Now, thanks to a rule change from the Trump administration, those funds could get a lot more complicated under the hood....
Carnival Corp (CCL) posted a preliminary $4.4 billion loss in the second quarter as the coronavirus pandemic has forced cruise ship companies to halt operations and suspend cruises.Shares dropped 6.9% to $17.77 in pre-market trading after the world's biggest cruise operator warned that it expects a net loss on both a U.S. GAAP and adjusted basis for the second half of 2020. Carnival expects the monthly average cash burn rate for the second half of the year to amount to about $650 million and said that it was also planning to accelerate the sale of more ships.Revenue in the second quarter ended May 31, plunged to $700 million from $4.8 billion a year earlier. Sales missed analysts’ expectations by $37.8 million.“Cruise operations have been in a pause for a majority of the second quarter,” Carnival said in a statement. “In addition, the company is unable to definitively predict when it will return to normal operations.”Meanwhile,...
The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of $1.83 per share. Four analysts surveyed by Zacks expected $1.3 billion. Carnival shares have dropped 62% since the beginning of the year, while the Standard & Poor's 500 index has dropped roughly 4%....
