wesport Posted April 6, 2020 #1 Share Posted April 6, 2020 Interesting article on CCL. CCL has enough liquidity with zero sailings until November. This is the worst cast scenario, but most assume there might be 25% sailing this summer. 1 Link to comment Share on other sites More sharing options...
DaveOKC Posted April 6, 2020 #2 Share Posted April 6, 2020 (edited) I saw this on CNBC a few minutes ago - very good news IMO. Stock up $2 or over 20% today. Edited April 6, 2020 by DaveOKC 3 Link to comment Share on other sites More sharing options...
JRG Posted April 6, 2020 #3 Share Posted April 6, 2020 I saw this too. Oil rich foreign states could be the solution to the cruise line survival question.. Crude for thought... 2 Link to comment Share on other sites More sharing options...
CruiserBruce Posted April 6, 2020 #4 Share Posted April 6, 2020 And that is how a company gets the $$$ to handle this crisis, for all the people thinking a business just has hundreds of millions or billions just sitting in their checking accounts to pay tens or hundreds of thousands of refunds. 2 Link to comment Share on other sites More sharing options...
Nymich Posted April 6, 2020 #5 Share Posted April 6, 2020 1 hour ago, CruiserBruce said: And that is how a company gets the $$$ to handle this crisis, for all the people thinking a business just has hundreds of millions or billions just sitting in their checking accounts to pay tens or hundreds of thousands of refunds. They should have enough to cover mine. LoL 1 Link to comment Share on other sites More sharing options...
HamOp Posted April 6, 2020 #6 Share Posted April 6, 2020 Here is a link to the story https://finance.yahoo.com/news/carnival-sells-8-percent-stake-173028049.html Link to comment Share on other sites More sharing options...
Krazy Kruizers Posted April 6, 2020 #7 Share Posted April 6, 2020 Thank you for the link HamOp. 1 Link to comment Share on other sites More sharing options...
St Pete Cruiser Posted April 6, 2020 #8 Share Posted April 6, 2020 It is scary for us little investors. My 100 shares bought at $52 a share are down about $4000, which I never thought possible. To think someone (Saudi or anyone) with very deep pockets could buy control of Carnival at 20 cents on the dollar, does not make me happy. 2 Link to comment Share on other sites More sharing options...
CruiserBruce Posted April 6, 2020 #9 Share Posted April 6, 2020 13 minutes ago, St Pete Cruiser said: It is scary for us little investors. My 100 shares bought at $52 a share are down about $4000, which I never thought possible. To think someone (Saudi or anyone) with very deep pockets could buy control of Carnival at 20 cents on the dollar, does not make me happy. 8% is not "control ". Remember, the standard goal for any minority stockholder is for the stock to make a profit, or gain. 6 Link to comment Share on other sites More sharing options...
gatour Posted April 6, 2020 #10 Share Posted April 6, 2020 (edited) Is this issuance of new stock? If it bought existing stock then it really doesn't help Carnival's cash position as the proceeds went to the entities that owned the stock. Doing a bit more looking around, it looks like the bought existing stock, so the Saudi's are betting that Carnival will survive and the stock price will rebound. Edited April 6, 2020 by gatour 1 1 Link to comment Share on other sites More sharing options...
CruiserBruce Posted April 6, 2020 #11 Share Posted April 6, 2020 15 minutes ago, gatour said: Is this issuance of new stock? If it bought existing stock then it really doesn't help Carnival's cash position as the proceeds went to the entities that owned the stock. Doing a bit more looking around, it looks like the bought existing stock, so the Saudi's are betting that Carnival will survive and the stock price will rebound. Or if not newly issued stock, it could be stock held by Carnival Corp in a couple of ways. Link to comment Share on other sites More sharing options...
npcl Posted April 6, 2020 #12 Share Posted April 6, 2020 31 minutes ago, gatour said: Is this issuance of new stock? If it bought existing stock then it really doesn't help Carnival's cash position as the proceeds went to the entities that owned the stock. Doing a bit more looking around, it looks like the bought existing stock, so the Saudi's are betting that Carnival will survive and the stock price will rebound. It was part of the 62.5 million new shares that Princess just sold along with the Bonds. Link to comment Share on other sites More sharing options...
HamOp Posted April 6, 2020 #13 Share Posted April 6, 2020 Top 10 Owners of Carnival Corp Stockholder Stake Shares owned Total value ($) Shares bought / sold Total change Truist Bank (Private Banking) 7.34% 38,669,095 1,293,867,919 +38,477,792 +20,113.53% Capital Research & Management Co.... 7.26% 38,236,944 1,279,408,146 -8,032,204 -17.36% The Vanguard Group, Inc. 6.11% 32,213,402 1,077,860,431 +1,818,047 +5.98% PRIMECAP Management Co. 4.18% 22,016,482 736,671,488 -37,200 -0.17% BlackRock Fund Advisors 3.48% 18,305,771 612,511,098 +752,148 +4.28% SSgA Funds Management, Inc. 3.41% 17,947,440 600,521,342 +231,771 +1.31% Invesco Advisers, Inc. 3.40% 17,922,131 599,674,503 -1,069,659 -5.63% Northern Trust Investments, Inc.(... 2.95% 15,542,175 520,041,176 -398,778 -2.50% Capital Research & Management Co.... 1.95% 10,277,014 343,868,888 -4,373,472 -29.85% Managed Account Advisors LLC 1.45% 7,638,480 255,583,541 -2,889,766 -27.45% Top 10 Mutual Funds Holding Carnival Corp Mutual fund Stake Shares owned Total value ($) Shares bought / sold Total change American Funds Income Fund of Ame... 2.36% 12,417,000 415,472,820 -1,460,000 -10.52% American Balanced Fund 2.28% 12,000,000 401,520,000 0 0.00% Vanguard Total Stock Market Index... 2.16% 11,392,498 381,192,983 +213,425 +1.91% Washington Mutual Investors Fund 2.15% 11,350,707 379,794,656 +597,907 +5.56% Vanguard 500 Index Fund 1.58% 8,326,859 278,616,702 +224,719 +2.77% Vanguard PRIMECAP Fund 1.47% 7,721,565 258,363,565 0 0.00% American Mutual Fund 1.35% 7,111,453 237,949,217 -586,695 -7.62% Capital Income Builder 1.14% 6,000,000 200,760,000 -1,673,500 -21.81% Invesco Comstock Fund 0.83% 4,359,453 145,867,297 0 0.00% SPDR S&P 500 ETF 0.81% 4,262,804 142,633,422 +3,374 +0.08% 1 Link to comment Share on other sites More sharing options...
St Pete Cruiser Posted April 6, 2020 #14 Share Posted April 6, 2020 1 hour ago, CruiserBruce said: 8% is not "control ". Remember, the standard goal for any minority stockholder is for the stock to make a profit, or gain. Yes, I realize. Think about the value of Carnival with 105 cruise ships plus all the rest. Why build new ships when you can buy someone else's at 20 cents on the dollar? For that matter, if this situation persists, there will be some great deals on the companies that are forced to liquidate. Link to comment Share on other sites More sharing options...
npcl Posted April 7, 2020 #15 Share Posted April 7, 2020 2 hours ago, St Pete Cruiser said: Yes, I realize. Think about the value of Carnival with 105 cruise ships plus all the rest. Why build new ships when you can buy someone else's at 20 cents on the dollar? For that matter, if this situation persists, there will be some great deals on the companies that are forced to liquidate. Considering the asset value minus liabilities is about 20 billion and market cap is a close to 7 billion, more like 30 cents on the dollar. Link to comment Share on other sites More sharing options...
bouhunter Posted April 7, 2020 #16 Share Posted April 7, 2020 9 hours ago, wesport said: but most assume there might be 25% sailing this summer. No, they won't. 2 Link to comment Share on other sites More sharing options...
CruiserBruce Posted April 7, 2020 #17 Share Posted April 7, 2020 5 hours ago, npcl said: It was part of the 62.5 million new shares that Princess just sold along with the Bonds. I don't think Princess sold any stock. Carnival Corp did. 1 Link to comment Share on other sites More sharing options...
npcl Posted April 7, 2020 #18 Share Posted April 7, 2020 5 minutes ago, CruiserBruce said: I don't think Princess sold any stock. Carnival Corp did. Ya I know . Meant Carnival don't know why I typed Princess. Link to comment Share on other sites More sharing options...
USN59-79 Posted April 7, 2020 #19 Share Posted April 7, 2020 The story said that Carnival still has 6000 passengers at sea. Is that true? What ships are still unable to disembark their passengers? Link to comment Share on other sites More sharing options...
Himself Posted April 7, 2020 #20 Share Posted April 7, 2020 15 hours ago, St Pete Cruiser said: It is scary for us little investors. My 100 shares bought at $52 a share are down about $4000, which I never thought possible. To think someone (Saudi or anyone) with very deep pockets could buy control of Carnival at 20 cents on the dollar, does not make me happy. If I were an investor I do not think I would be very Happy about it. Link to comment Share on other sites More sharing options...
CruiserBruce Posted April 7, 2020 #21 Share Posted April 7, 2020 45 minutes ago, Himself said: If I were an investor I do not think I would be very Happy about it. I think you are missing the point. This money is giving Carnival the ability to weather this storm. We are investors, and think it is a good idea. This is a common and appropriate action to save the Company and our investment. It will allow Carnival to refund everyone's monies, and pay the bills for the short term. The Saudis are seeking to have Carnival survive, not throwing money away. When you buy stock, there is a significant chance it could go down. Nobody can guarantee it will only go up. 4 Link to comment Share on other sites More sharing options...
Despegue Posted April 7, 2020 #22 Share Posted April 7, 2020 Great News! As I am sometimes flying members of the Saudi Royal family, I will ask for a discount on my next HAL cruise 🤣🙃😇🥳 Keep Safe everyone. Together we will weather this storm. We WILL meet again. 2 Link to comment Share on other sites More sharing options...
sfaaa Posted April 7, 2020 #23 Share Posted April 7, 2020 8 hours ago, Himself said: If I were an investor I do not think I would be very Happy about it. Many of us are cruisers first and investors second. I welcome this Saudi move as a vote of confidence on Carnival as a going concern. 2 1 Link to comment Share on other sites More sharing options...
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