• Business

    Carnival Stock Surges as Second-Quarter Profits Rises Sharply

    Textual content measurement A big Carnival cruise ship docked at port in turquoise blue water. Dreamstine Shares of Carnival ended up increasing Friday following the cruise line posted 2nd-quarter profits that rose sharply from the first quarter of 2022. Carnival (ticker: CCL ) claimed a GAAP loss of $1.61 a share, wider than analysts’ estimates for a decline of $1.08 a share. Profits was $2.4 billion, expanding by nearly 50% from the to start with quarter, but under projections for $2.76 billion, in accordance to FactSet. Occupancy in the next quarter was 69%, up from 54% in the previous quarter. Shopper deposits, in transform, improved $1.4 billion to $5.1 billion…

  • Business

    Kellogg Plans to Split Into 3 Companies. The Stock Is Spiking.

    Text size Boxes of Kellogg Co. Eggo brand frozen waffles and pancakes Gabby Jones/Bloomberg Kellogg stock was rising sharply on Tuesday after the cereal and snack giant announced plans to split into three independent companies. K ellogg (ticker: K) will spin off its U.S., Canadian, and Caribbean cereal and plant-based businesses. The names of the companies will be determined later. The first, “Global Snacking Co.,” will encompass Kellogg’s global snacking, international cereal and noodles, and North American frozen breakfast. Kellogg estimates this company will have about $11.4 billion in net sales from brands including Pringles, Cheez-it, and Nutri-Grain, among others. Chief Executive Officer Steve Cahillane will remain CEO of the…

  • Business

    Consumer Staples Stocks Are Usually Safe. Here’s Why They’re Getting Crushed.

    Text size Stock for Procter & Gamble, maker of Dawn dish soap, is down 13% since April 20. Joe Raedle/Getty Images Consumer staples stocks have been crushed in the past couple of months. They are usually pretty safe, but they have recently had a bit of an earnings problem.  The Vanguard Consumer Staples Index Fund (VDC) has dropped 12% since hitting an all-time high April 20. That decline is about the same as the S&P 500’s in that span. That is a sudden change of tune, as staples stocks had been up for the year by April 20, while the broader market was down. That was because large market capitalization staples…