Core Viewpoint - Carnival Corporation & plc has announced a quarterly cash dividend of $0.15 per share, payable on February 27, 2026, to shareholders of record on February 13, 2026 [1] Group 1: Dividend Announcement - The dividend of $0.15 (U.S.) per share will be paid in U.S. dollars to holders of Carnival Corporation common stock or Carnival plc ADSs [1] - For Carnival plc ordinary shares, the dividend will be payable in sterling unless shareholders elect to receive it in U.S. dollars by February 13, 2026 [1] - The conversion rate for dividends payable in sterling will be based on the exchange rate quoted by Bloomberg at 12 noon London time on February 17, 2026, with the rate being US$1 = 73.72457 pence [1] - Consequently, the dividend payable in sterling will amount to 11.05869 pence per share [1] Group 2: Company Overview - Carnival Corporation & plc is recognized as the largest global cruise company and one of the largest leisure travel companies [1] - The company operates a portfolio of world-class cruise lines, including AIDA Cruises, Carnival Cruise Line, Costa Cruises, Cunard, Holland America Line, P&O Cruises, Princess Cruises, and Seabourn [1]

Core Insights - Norwegian Cruise Line has appointed John Chidsey as the new CEO amid struggles to compete with rivals like Royal Caribbean and Carnival, leading to a stock drop of over 7% following the announcement [2] - Activist investor Elliott Investment Management, holding over 10% of Norwegian's shares, criticized the board for poor leadership choices and called for changes to improve company performance [2][3] - Elliott's letter highlighted a history of mismanagement, including a previous CEO's tenure that resulted in a 50% decline in share price and a successor whose strategies led to a further 140% underperformance compared to peers [3] Company Performance and Strategy - Norwegian Cruise Line's board is under scrutiny for selecting a CEO without cruise industry experience, raising concerns about the company's future direction [3] - Elliott proposed several changes, including adding board members with relevant experience, reviewing the executive leadership team, and developing a new business plan to enhance performance [6] - Elliott believes there is potential for the stock to reach $56 per share, representing a 159% increase from the recent closing price, with shares having surged 12% on the day following their letter [6]

Market Overview - The S&P 500 and other major indices experienced a mixed trading day, with the S&P 500 and Dow finishing up about 0.1% each, while the Nasdaq composite also rose by 0.1%, but the Nasdaq 100 closed down by 0.1% [6][7] - Overall, the market showed indecisiveness, fluctuating between gains and losses throughout the day, indicating a "wait and see" approach among investors [5][6] Sector Performance - Real estate was the biggest gainer among sectors, increasing by 1%, while financials also performed well, and tech rose by approximately 0.5% [9] - Consumer staples were the largest losers, declining by 1.5%, followed closely by energy, which fell by 1.4% [10] Earnings Reports - Caesars Entertainment reported a fourth-quarter loss of $1.23 per share, with net revenue of $2.92 billion, slightly above the street estimate of $2.89 billion [11] - Norwegian Cruise Line was the top gainer in the S&P 500, rising by about 12% after Elliott Investment Management acquired a more than 10% stake and urged changes to unlock significant shareholder value [13] - Masimo saw a 34% increase in its stock price after Danaher announced its acquisition for $80 per share, representing a 40% premium over the previous close, with a total enterprise value of approximately $9.9 billion [14] - TripAdvisor's stock rose by about 9% following a letter from Starboard Value highlighting underperformance and plans to nominate a majority slate of directors [14] - Genuine Parts Company, the owner of Napa Auto Parts, fell by over 14.5% after reporting fourth-quarter earnings that missed expectations and announcing plans to split into two public companies [18] - General Mills' stock dropped by 7% after the company lowered its fiscal 2026 outlook due to a challenging consumer environment [24] Guidance and Future Outlook - Cadence Design reported adjusted EPS of $0.99, beating expectations, and provided full-year revenue guidance of $5.9 billion to $6 billion, aligning with street estimates [16] - Palo Alto Networks projected full-year adjusted EPS between $3.65 and $3.70, below the estimate of $3.87, with revenue guidance of $1.28 billion to $1.31 billion [21]

Core Insights - The cruise operator's shares have underperformed compared to rivals Royal Caribbean and Carnival [1] Company Performance - The cruise operator's stock performance has lagged behind its competitors, indicating potential challenges in market positioning and investor confidence [1]

Core Viewpoint - Tigress Financial has set a new price target of $425 for Royal Caribbean, indicating a potential increase of about 23.21% from its current trading price of $344.95 [1][5] Financial Performance - Royal Caribbean's stock surged to $345.51, reflecting an increase of approximately 5.95% or $19.42 following the release of its fourth-quarter earnings report [2] - The fourth-quarter results met Wall Street expectations with adjusted earnings of $2.80 per share, matching consensus estimates [3] - Revenue performance was strong, driven by a net yield growth of approximately 2.5% on a constant-currency basis, with reported net yields increasing by just over 3% due to higher pricing and robust onboard spending [3] Operational Metrics - Occupancy rates soared to about 108%, indicating that the ships are sailing at full capacity, which has bolstered investor confidence [4] - The company projects adjusted earnings for 2026 in the range of $17.70 to $18.10 per share [4] - Royal Caribbean's market capitalization stands at approximately $94.22 billion, with a trading volume of 1,159,487 shares on the NYSE [4]

Group 1 - Royal Caribbean Group's stock is currently priced at $328.60, showing a slight increase of 0.02% [1] - The stock is completing the fifth day of a handle on a cup base pattern, with an entry point at 351.57 [1] - The company has a composite rating of 85 out of 99 and is ranked 72 out of 197 in its industry group [1] Group 2 - The overall market indexes have rebounded from key levels, indicating a positive trend [1] - Royal Caribbean's guidance has positively impacted cruise stocks, leading to a jump in shares for RCL and VIK [1] - The article highlights multiple buy points for Royal Caribbean, suggesting potential investment opportunities [1]

Core Viewpoint - Carnival Corporation & PLC (NYSE: CCL) is experiencing a positive market response, with shares rising by 8.09% as investors anticipate a dividend payment and are optimistic about the cruise sector's outlook for the year [1][7]. Group 1: Financial Performance and Outlook - Carnival Corporation is set to pay a dividend of $0.15 per share to common shareholders as of February 13, 2026, on February 27, 2026 [1]. - The positive sentiment surrounding Carnival is influenced by strong earnings from competitor Royal Caribbean Group, which reported a 48% increase in attributable net income to $4.27 billion for the full year 2025, with revenues of $17.9 billion, an 8.5% year-on-year increase [3][4]. Group 2: Corporate Actions - Carnival Corporation plans to unify its two companies into one, with Carnival Corp. becoming the main entity and Carnival PLC as a wholly-owned subsidiary, creating a single stock for all shareholders [4][5]. - The company expects to secure shareholder approval for this unification plan on April 17, 2026 [5].

Core Insights - Royal Caribbean Group has announced agreements with Chantiers de l'Atlantique for the construction of its new Discovery Class ships, including two firm orders and options for four additional ships, with the first ship set to debut in 2029 and the second in 2032 [1][2] Group 1: Company Strategy and Vision - The Discovery Class ships are designed to enhance guest experiences through innovative design and immersive moments, showcasing the future of vacations [2][3] - Royal Caribbean Group aims to disrupt the vacation industry with bold offerings and innovative shipbuilding, leveraging a partnership with Chantiers de l'Atlantique [5] Group 2: Shipbuilding and Technology - Chantiers de l'Atlantique has a long-standing relationship with Royal Caribbean, having built 21 ships over the past four decades, and is currently constructing two additional ships [4] - The collaboration emphasizes sustainability and cutting-edge technology in shipbuilding, reinforcing Royal Caribbean's global shipbuilding network [7] Group 3: Future Developments - Royal Caribbean Group is expanding its vacation offerings, including a pipeline of ocean and river ships over the next three years and increasing its private destinations from three to eight by 2028 [6][9] - The company plans to enter river cruising in 2027 with Celebrity River Cruises, further diversifying its portfolio [9]

Core Viewpoint - The cruise operator is anticipated to encounter significant challenges in the near future [1] Group 1 - The cruise industry is facing potential difficulties due to various external factors [1] - Market conditions may lead to increased operational costs for cruise operators [1] - Consumer demand for cruises may fluctuate, impacting revenue projections [1]

Company Overview - Carnival Corporation & plc (NYSE: CCL) is a Florida-based provider of leisure travel services, founded in 1972, operating through four segments: NAA Cruise Operations, Europe Cruise Operations, Cruise Support, and Tour and Other [4] Investment Ratings and Price Targets - TD Cowen raised the price target on Carnival Corporation to $38 from $35, maintaining a Buy rating, indicating an upside potential of 35.42% [1] - UBS also reaffirmed its Buy rating and $38 price target on Carnival Corporation, anticipating FY26 yield growth to be 0.3% higher than the company's projection of 2.5% [3] Earnings Outlook - Despite challenges in the Caribbean affecting earnings for Royal and Norwegian, underlying demand for cruises remains strong, with positive capacity dynamics expected through FY29 [2] - UBS lowered its reported net yield forecast for Carnival to 4% YoY, down from 4.4%, due to a more modest foreign exchange tailwind, while maintaining the FY28 net yield estimate at 2.5% YoY growth [3]