DIRS.INFO The most relevant business & tech news

☆ Cruises are heading to different ports because of the Baltimore bridge collapse, and Carnival says it's only taking a little loss
▼ + stars: | 2024-03-28 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +3 min

One of its cruises, the Carnival Legend, departed on Sunday for a seven-day round trip from the Baltimore port and will return instead to Norfolk. Competitors Royal Caribbean and Norwegian Cruise Line were up around 3% and 6% respectively at closing. American Cruise Line also frequents the Baltimore port on East Coast itineraries — its American Glory cruise is set to sail next week. The company has over 30 cruises scheduled from the Baltimore port for the rest of 2024. The Baltimore port is the 17th-largest in the US, and the bridge collapse has left six construction workers presumed dead.

Persons: —, Josh Weinstein, Weinstein Organizations: Royal, Cruise, Service, Coast Guard, Royal Caribbean, Cruise Line, Washington Post . Locations: Baltimore, Norfolk , Virginia, Royal Caribbean, Baltimore's, Norfolk, New York, Washington, East

☆ Carnival rides on record cruise demand to lift annual profit forecast
▼ + stars: | 2024-03-27 | by ( ) www.cnbc.com time to read: +1 min

Carnival Corp raised its annual profit forecast on Wednesday, anticipating a record year of bookings as the company benefits from a rise in people seeking cruise vacations for the first time. "The first quarter has been fantastic across the board," CEO Josh Weinstein said on a post-earnings call. "We delivered record bookings and record customer deposits again this quarter, a great start to the year." Bookings for the rest of 2024 remain the best year on record with total customer deposits reaching $7 billion in the first quarter, the company said. New-to-cruise customers surged more than 30% year-over-year, Carnival said.

Persons: Josh Weinstein, Carnival Organizations: Carnival Corp

☆ Carnival CEO: Operations will proceed without a beat after Francis Scott Key bridge collapse
▼ + stars: | 2024-03-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCarnival CEO: Operations will proceed without a beat after Francis Scott Key bridge collapseCarnival CEO Josh Weinstein joins 'Money Movers' to discuss how the bridge collapse will affect Carnival's operations, security concerns in the Red Sea, and any sign of slowing demand.

Persons: Francis Scott Key, Josh Weinstein Organizations: Email, Operations Locations: Red

☆ Cruise lines' private islands are having a renaissance. These are the 3 reasons they need it now more than ever before.
▼ + stars: | 2024-03-23 | by ( Brittany Chang | ) www.businessinsider.com time to read: +8 min

To cruise lines, they're cash cows. Related storiesThese are the three reasons cruise-run private destinations have become so important. Amid rising fuel costs, it's easy to see why cruise lines would want to plan more itineraries around these nearby stops. Private destinations keep profits in-houseThe bar had two halves: one on land and the other at pool level. And because there's no need to rely on other excursion operators, they allow cruise lines to keep more profits in-house.

Persons: —, Patrick Scholes, Michael Bayley, Naftali Holtz, it's, Scholes, wouldn't, Linken D'Souza, Brittany Chang, Josh Weinstein, Jason Liberty, Simone Padovani, CHANDAN KHANNA, They're Organizations: Service, Royal, Business, Truist Securities, Disney Cruise Line, Disney Cruise, Holland America, MSC, Royal Caribbean International, Royal Caribbean Group, Beach, cabanas, Carnival Corp, Private, Hideaway, Disney, Key, Getty Locations: Miami, Bahamas, CocoCay, Caribbean, Honduras, Belize, Eleuthera, Cay, Holland, Royal Caribbean, Paradise, Nassau, Florida, cabanas, Royal, Orlando, Venice, Italy's Giudecca, Santorini, Greece, Key West , Florida, California, Alaska , Maine, Europe, Juneau , Alaska, French Polynesia, Italy

☆ Latino-focused media company Sonoro wants to be the next 'IP machine' like Warner Bros. TV. Here are its expansion plans and the pitch deck it used to get investment.
▼ + stars: | 2024-02-08 | by ( Lucia Moses | ) www.businessinsider.com time to read: +1 min

Latino-focused media company Sonoro has raised $12.5 million from Lerer Hippeau, Greycroft, and others. Its pitch deck shows how it turns podcasts into TV and film for Netflix and others. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe Latino-focused media company Sonoro has raised $12.5 million from Lerer Hippeau, Greycroft, and others to turn audio content for English and Spanish speakers into film and TV.

Persons: Sonoro, —, it's, Josh Weinstein, Camila Victoriano, Gerónimo, Weinstein Organizations: Netflix, Service, Universal Pictures, Business Locations: Mexico, Ulta

☆ Royal Caribbean's cruises have never been this popular. Good luck booking one of it's giant ships.
▼ + stars: | 2024-02-01 | by ( Brittany Chang | ) www.businessinsider.com time to read: +2 min

Royal Caribbean Group has half the number of available cabins right now than the same time in 2023. AdvertisementGood luck booking your dream Royal Caribbean vacation this year — the cruise line's giant ships are running low on cabins amid a spike in demand. Trade group Cruise Lines International Association estimates 36 million travelers will cruise in 2024 — a 14% increase from 2023. Cruise ships like the Icon of the Seas will spend the majority of their trip at sea. Royal Caribbean isn't the only cruise giant starting 2024 with exceptionally busy ships.

Persons: —, Brittany Chang, you've, Jason Liberty, Pieter De Boer, Josh Weinstein Organizations: Royal Caribbean Group, Service, Trade, Cruise Lines International, Cruise, Cruise Line Holdings, Carnival Locations: Caribbean, Brittany, Royal Caribbean

Travelers are looking to cruises in 2024 because they are still cheaper than land-based alternatives. With occupancy levels approaching pre-pandemic levels, operators plan to hike prices in coming months. "Overall the market is extremely strong, especially the top end of the market in terms of the most high-end luxury cruises," said Bob Levinstein, CEO of cruise marketplace Cruise Compete. Even as travelers have canceled or postponed planned vacations to the Middle East, cruise bookings will still hit record levels in 2024, said Truist Securities analyst Patrick Scholes. Prior to the Oct. 7 attacks in Israel, industry-wide bookings for 2024 were about 25% higher than in 2019 for bookings in 2020.

Persons: Queen Mary, Andrew Kelly, Bob Levinstein, Patrick Scholes, Scholes, Jason Liberty, Josh Weinstein, Atle, Kari Dillon, Dillon, InteleTravel, Dave Spinelli, Ben Harrell, Granth, Marguerita Choy Organizations: Cunard Line, Carnival Corporation & plc, Brooklyn Cruise, REUTERS, Travelers, Truist Securities, Cruise Lines International Association, Royal Caribbean, Liberty ., Holdings, Cruisers, Thomson Locations: Brooklyn, Brooklyn , New York City, U.S, BENGALURU, Israel, Caribbean, Oslo, North Carolina, Florida, InteleTravel, Delray Beach , Florida, Royal Caribbean, Bengaluru, Doyinsola, New York

☆ Stocks making the biggest moves midday: Foot Locker, Okta, Carnival, Shopify and more
▼ + stars: | 2023-11-27 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Carnival — Shares added 1% after being upgraded to buy from hold by Melius Research . Crown Castle — The telecommunications stock jumped nearly 4% following an activist push for change at Crown Castle. Shares of Crown Castle are down 20% this year. Okta — Shares of the software company dropped 3% Monday after JMP Securities downgraded Okta to market perform. Teva Pharmaceuticals — U.S.-traded shares jumped 3% after an upgrade from UBS to buy from neutral.

Persons: Locker, Josh Weinstein, Melius, Okta, JMP, Albemarle —, Etsy, TD Cowen, —, Alex Harring, Hakyung Kim, Sarah Min, Michelle Fox, Jesse Pound, Darla Mercado Organizations: Citi, Melius Research, Crown, Elliott Investment Management, Sunday, JMP Securities, Albemarle, Battery Tech, U.S, Teva Pharmaceuticals —, UBS, Xenon Pharmaceuticals, —, Adobe Analytics Locations: Crown, Albemarle

☆ Carnival Corp. CEO Josh Weinstein sits down with Jim Cramer
▼ + stars: | 2023-10-30 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Carnival Corp. CEO Josh Weinstein sits down with Jim CramerCarnival Corp. CEO Josh Weinstein sits down with 'Mad Money' host Jim Cramer to talk the state of the travel sector, where the cruise industry sits, quarterly results and more.

Persons: Josh Weinstein, Jim Cramer Carnival, Jim Cramer Organizations: Carnival Corp, Jim Cramer Carnival Corp

☆ The era of cheap cruises is over. Here's how to find the best deal now.
▼ + stars: | 2023-10-21 | by ( Brittany Chang | ) www.businessinsider.com time to read: +5 min

In 2024 cruise fares will continue to increase past 2019 levels. Carnival Corp, for example, says it is "well positioned to drive 2024 pricing higher." AdvertisementAdvertisementSay goodbye to cheap cruises and get ready to dig deeper into your wallets for a 2024 cruise — demand is now driving future cruise fares to pre-COVID-19-pandemic levels. For 2024, pricing across the industry will be up about 8% compared to this year and 20% compared to 2019. AdvertisementAdvertisementThere's still one big culprit: pent-up demandCarnival Corp's CFO David Bernstein says the company is "well positioned to drive 2024 pricing higher."

Persons: —, itineraries, Tynan Smith, Patrick Scholes, David Bernstein, DANIEL SLIM, Josh Weinstein, Scholes, Smith, Brittany Chang Organizations: Carnival Corp, Service, Cruise, Truist Securities, Carnival, Getty Images, Royal Locations: Caribbean, Bahamas, Bermuda, AFP, Royal Caribbean

☆ Cruise prices are way up as operators meet surging travel demand
▼ + stars: | 2023-10-09 | by ( Laya Neelakandan | ) www.cnbc.com time to read: +1 min

As vacationers emerge into a post-pandemic travel world, cruises have made a spectacular comeback — and ticket prices are surging. Cruise operators such as Carnival and Royal Caribbean Cruises are setting some ticket prices higher than pre-pandemic levels and are indicating they may raise them further, even as they post pre-Covid profits. Compared to 2019, before the Covid-19 pandemic decimated the cruising industry, December ticket prices are up 43%. The company's booking volumes likewise hit an all-time high, pushing cruise occupancy and revenue beyond 2019 levels, he said. Royal Caribbean CEO Jason Liberty echoed the sentiment, saying on that company's post-earnings call in July that his company is also considering increasing prices to meet the surge in demand.

Persons: Josh Weinstein, Jason Liberty Organizations: Royal Caribbean Cruises, Cruise, Tripadvisor, Wall, Carnival, CNBC, Royal Locations: Caribbean, Royal Caribbean

☆ Carnival CEO says charging passengers an extra fee to help cover rising fuel costs is 'certainly not off the table'
▼ + stars: | 2023-10-02 | by ( Hannah Towey | ) www.businessinsider.com time to read: +3 min

Carnival's CEO said a fuel surcharge is "certainly not off the table" during an earnings call. To help offset soaring oil prices, cruise lines and airlines can charge passengers fees known as fuel surcharges. AdvertisementAdvertisementCarnival said it expected a net impact of $130 million in the fourth quarter due to rising fuel costs and unfavorable currency exchange rates. He said a fuel surcharge wouldn't be implemented in the near term, and it would only impact future bookings, rather than applied retroactively. "We continue to work aggressively to manage fuel costs the best way possible by consuming less," he said on the Friday earnings call.

Persons: it's, —, Josh Weinstein, Weinstein Organizations: Service, Carnival Corporation, New York Mercantile Exchange, Carnival

☆ Carnival CEO Josh Weinstein on Q3 earnings: All signs are incredibly positive, and we are bullish
▼ + stars: | 2023-09-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCarnival CEO Josh Weinstein on Q3 earnings: All signs are incredibly positive, and we are bullishCarnival CEO Josh Weinstein joins 'Squawk on the Street' to discuss the company's third quarter, how forward booking and spending patterns have fared, and more.

Persons: Josh Weinstein Organizations: Email

☆ Two cruise lines will benefit thanks to 'turbocharged' demand, says Redburn Atlantic
▼ + stars: | 2023-09-14 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

During the two years of the Covid pandemic, cruise lines lost approximately 80% of their pre-pandemic market capitalization, according to Redburn Atlantic. Strong travel demand, particularly in leisure travel, is at the core of the improved pricing outlook for the cruise industry, according to Brignall. Norwegian has faced partcular challenges thanks to its status as a high-end cruise line with an older customer base, and "more complex, longer cruise product." As a result, the company has been hurt more than other cruise lines by sailing restrictions, but Brignall expects that headwind to get better soon. Both shares have surged this year thanks to the continued recovery in leisure travel, with Carnival climbing 93% and Norwegian by 39%.

Persons: Alex Brignall, Brignall, headwind, Josh Weinstein, — CNBC's Michael Bloom Organizations: Cruise Line Locations: U.S, Norwegian, Europe

The logo of the company Royal Caribbean is seen on the 'Wonder of the Seas' cruise ship, the world’s largest cruise ship, docked at a port in Malaga, southern Spain, April 30, 2022. Cruise operators lowered prices to lure passengers onboard following the pandemic, banking on onboard spending that has now reached record levels. Onboard spending in the second quarter rose 49.9% for Norwegian Cruise Lines (NCLH.N), compared with the same period in 2019, before the pandemic. Onboard spending rose about 36.8% for Royal Caribbean Cruises and 17.2% for Carnival in the same period. Carnival and Royal Caribbean said the percentage of guests who were new to cruising surpassed 2019 levels.

Persons: Jon Nazca, Patrick Scholes, Josh Weinstein, Bob Levinstein, Cruise, Carnival's Weinstein, Jason Liberty, Brandt Montour, Granth, Anil D'Silva Organizations: Royal, REUTERS, Royal Caribbean Cruises, Carnival Corp, Carnival, Cruise, Norwegian Cruise Lines, DISNEY WORLD, Walt Disney, Custom Travel, Reuters Graphics, Cruise Lines International, . Carnival, Barclays, Thomson Locations: Royal Caribbean, Malaga, Spain, U.S, Caribbean, Orlando , Florida, They've, Bengaluru, Doyinsola, New York

☆ Cruises are increasingly adopting the strategy of budget airlines: Get ready to pay more for all the extras.
▼ + stars: | 2023-07-30 | by ( Brittany Chang | ) www.businessinsider.com time to read: +9 min

Cruise lines are seemingly adopting the budget airline model: Charge a base fare and pile on extras. Newer cruise ships have "more opportunities to upsell" with restaurant and entertainment options. In fact, cruise lines have told their investors recently that passengers are embracing these add-on costs — and enhancing their bottom lines. "Cruise lines are creative to try to make you forget you actually bought some things nine months ago," Scholes said. Cruise lines are trying to cut costs at the same timeThe cost of drink packages have been increasing on some cruise lines.

Persons: Brittany Chang, Patrick Scholes, Guy, Scholes, Silversea, It's, it's, Josh Weinstein, Tynan Smith, Kara Wallace, Royal Organizations: Cruise, New, Truist Securities, Norwegian Cruise Line, MSC Cruises, Royal, Royal Caribbean Group, Royal Caribbean, Carnival Corp, Street Journal, UBS, Royal Caribbean's Locations: New York City, Norwegian, Royal Caribbean, Royal, Brittany

☆ Wall St sees bargains and lure of Europe buoying cruise, hotel earnings
▼ + stars: | 2023-07-24 | by ( Doyinsola Oladipo | ) www.reuters.com time to read: +4 min

Passenger ticket and onboard spending revenue is expected to increase 66% and 36%, respectively. Cabin bookings in the second quarter were up 58% compared to this time last year. For Carnival, booking volumes in the second quarter were 17% higher than in 2019, Carnival CEO Josh Weinstein told investors in June. Meanwhile, investors will be watching if record nightly rates for on-shore accommodations can offset revenue in the second quarter. Hotel and short-term rental rates were about 18% and 35% more expensive in the second quarter than in 2019, according to analytics firms CoStar and AirDNA.

Persons: Brandt Montour, McKinsey, Sylvia Jablonski, Patrick Scholes, Josh Weinstein, AirDNA, Hilton, Doyinsola Oladipo, Granth, Susan Heavey Organizations: YORK, Investors, Hilton Worldwide Holdings, Royal Caribbean Cruises, Barclays, Royal, Carnival Corp, Cruise Line Holdings, Airlines, Cruises, Cruise, Truist Securities, Thomson Locations: Europe, United States, AirDNA . U.S, Asia, New York, Bangalore

☆ Stocks making the biggest premarket moves: Nike, Apple, Dominion Energy, Carnival and more
▼ + stars: | 2023-06-30 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Nike's fiscal fourth-quarter earnings were 66 cents per share, versus the 67 cents consensus estimate, per Refinitiv. Apple — Apple shares rose 0.8%, putting the tech giant on track to reach a $3 trillion market cap. Carnival — Shares of the cruise line rose 3% in premarket trading after Jefferies upgraded Carnival to buy from hold. Savers Value Village — Shares slipped 2% in the premarket, after jumping 27% during their first day of trading Thursday. Freyr Battery — The stock popped another 5% in premarket trading, following an 11% gain on Thursday.

Persons: Jefferies, Josh Weinstein's, Morgan Stanley, —, Sam Subin, Jesse Pound, Alex Harring Organizations: Nike, Nike —, Apple, Citi, Jefferies, Dominion Energy, Millstone, Constellation Brands, Corona, Revenue Locations: Chicago , Illinois, U.S, Pacifico

June 26 (Reuters) - Carnival (CCL.N) on Monday forecast third-quarter adjusted profit marginally below estimates as the cruise operator battles higher labor and fuel costs while spending more on marketing, sending its shares down about 10%. M Science analyst Michael Erstad said the company's forecast suggests that the robust demand trend would continue, while adding that Monday's share performance, in part, reflected the higher cost outlook. The mid-point of the company's third-quarter adjusted profit per share forecast of 70 cents to 77 cents, was below analysts' average estimate of 76 cents, according to IBES data from Refinitiv. Carnival now expects adjusted annual loss per share between 8 cents and 20 cents, compared with its earlier forecast of a loss per share of 28 cents to 44 cents. Reporting by Juveria Tabassum and Ananya Mariam Rajesh in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Josh Weinstein, David Bernstein, Michael Erstad, Juveria Tabassum, Ananya Mariam Rajesh, Vinay Dwivedi Organizations: Norwegian Cruise Line Holdings, Thomson Locations: Norwegian, Bengaluru

☆ Carnival CEO Josh Weinstein on Q2 results and outlook
▼ + stars: | 2023-06-26 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCarnival CEO Josh Weinstein on Q2 results and outlookCarnival CEO Josh Weinstein joins 'Squawk on the Street' to discuss their latest quarter as the cruise line reported a smaller-than-expected loss.

Persons: Josh Weinstein Organizations: Email

☆ Watch CNBC's full interview with Carnival CEO Josh Weinstein
▼ + stars: | 2023-06-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Carnival CEO Josh WeinsteinCarnival CEO Josh Weinstein joins 'Squawk on the Street' to discuss their latest quarter as the cruise line reported a smaller-than-expected loss.

Persons: Josh Weinstein

☆ Cruise stocks soar as industry rebounds. Here's what analysts expect to happen next
▼ + stars: | 2023-06-14 | by ( Michelle Fox | ) www.cnbc.com time to read: +9 min

Carnival and Norwegian Cruise Line hit 52-week highs Wednesday, while Royal Caribbean did so Tuesday. RCL YTD mountain Royal Caribbean year to date For Farley, Royal Caribbean stands out because it has about 64% of its cruises in the Caribbean, a strong market. Investors now may be waiting to see if there will be more price target increases from analysts after the latest run up. Royal Caribbean has 3% downside to the average analyst price target of $92.77 as of Tuesday's close, per FactSet. Carnival has 21% downside to its average price target of $12.11, and Norwegian has 15% downside to its $16.60 average price target.

Persons: It's, Jason Liberty, Patrick Scholes, Robin Farley, Matthew Boss, Bank of America's Andrew Didora, Josh, Didora, Farley, Truist's Scholes, James Hardiman, Greg Badishkanian, Scholes, Managements, Boss, CNBC's Michael Bloom, Josh Weinstein Organizations: shutdowns, Wall Street, Cruise Line, Royal, CNBC, Royal Caribbean, JPMorgan Chase, Bank of America, CCL, Bank of America's, UBS, Argus Research, Citi, Wolfe Research, JPMorgan, Investors Locations: Royal Caribbean, U.S, Miami, Tuesday's, Caribbean, Norwegian

Amid "continued demand momentum" for the cruise industry, JPMorgan is bullish on Carnival . The bank upgraded the cruise liner's shares to overweight from neutral in a Monday note. Analyst Matthew Boss also raised his price target to $16 from $11, implying more than 22% upside from Friday's close. Boss underscored Weinstein's comments that Carnival is "no longer riding the coattails of a post-pause pent-up." "On the top-line, we came away confident in current trends with all three management teams," Boss said.

Persons: Matthew Boss, Boss, Josh Weinstein —, —, — CNBC's Michael Bloom Organizations: JPMorgan, CCL

☆ Despite all odds, consumers are still traveling this summer. Here are the stocks you need to own
▼ + stars: | 2023-05-26 | by ( Michelle Fox | ) www.cnbc.com time to read: +11 min

Yet despite all odds, 61% of those surveyed said they plan to travel this summer, up from the 49% who said the same in summer 2021. Some 56% of adults are more likely to stay in a hotel this summer than they were in 2022, according to the AHLA/Morning Consult survey. Booking Holdings is also an analyst favorite, with an average rating of overweight and 10% upside to the average price target, per FactSet. While prices are still high, the latest consumer price index for April showed the airline fares index fell 2.6% month over month, after rising in February and March. Airlines are essentially sold out for summer travel, according to TD Cowen analyst Helane Becker.

Persons: Matt Kramer, They're, You've, Sylvia Jablonski, Kramer, Freed, Bernstein, David Vernon, Price, Robin Farley, Farley, James Hardiman, Hardiman, Josh Weinstein's, RevPar, Tony Capuano, Chris Nassetta, Biden, Hilton, they've, Airbnb, Brian Chesky, it's, Evercore, Mark Mahaney, amortization, Mahaney, Cowen, Helane Becker, Becker, — CNBC's Michael Bloom, Ashley Capoot Organizations: KPMG, KPMG Consumer, Survey, Cruise ETF, Royal, Holdings, Marriott, United Airlines, Morning, American, & Lodging Association, Cruises, UBS, Citi, CCL, CNBC, Hilton Worldwide, U.S . Travel Association, State Department, Booking Holdings, Booking, Airlines, Delta Air Lines, Copa Holdings, Panamanian, Copa Airlines Locations: United States, Royal Caribbean, United, Caribbean, CocoCay, Thursday's, China, North America, Asia, Europe

☆ We've seen no sign of slowdown, says Carnival Corp CEO Josh Weinstein
▼ + stars: | 2023-03-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe've seen no sign of slowdown, says Carnival Corp CEO Josh WeinsteinCNBC's Sara Eisen talks to Carnival Corp CEO Josh Weinstein on 'Squawk on the Street' to discuss his thoughts on the company's future as it beat Q1 estimates.

Search resuls for: "Josh Weinstein"

25 mentions found