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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
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
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
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