2024-07-07 07:00:00 ET
Shares of Carnival Corporation (NYSE: CCL) rallied 24.1% in June, according to data from S&P Global Market Intelligence .
Carnival actually didn't start the month particularly well, as one prominent Wall Street analyst warned investors over cruise companies' pricing power as May turned to June. Yet, Carnival's second-quarter earnings report told a much different story, as the company's revenue and profitability trounced expectations, as did its guidance.
Carnival actually started June on a downbeat note after Bank of America analyst Andrew Didora wrote a note saying that cruise prices had come down slightly in June relative to early May.
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Why Carnival Corporation Rallied 24.1% in June