markets

Helena Cheng5/4/26

Norwegian Cruise Line sinks after outlook cut tied to higher fuel costs, weaker demand

Norwegian Cruise Line shares slid after the cruise operator cut its full-year outlook, overshadowing a first-quarter earnings beat.

The company lowered its guidance for full-year adjusted earnings per share to $1.45 to $1.79, down from its previous forecast of $2.38. It now sees adjusted EBITDA of $2.48 billion to $2.64 billion, below the company’s previous forecast of $2.95 billion and the $2.79 billion analysts were expecting.

The cut reflects a mix of macro and company-specific pressures. Higher fuel costs tied to the conflict in the Middle East are weighing on margins, while demand for European travel has softened and bookings remain below target level.

Norwegian said it entered 2026 “behind its targeted booking curve,” with geopolitical disruptions further slowing its ability to close that gap. The stock had already been under pressure, down more than 16% this year heading into the results.

On Monday morning before the open, the stock was down 6.7%.

The company’s first-quarter adjusted EPS came in at $0.23, topping estimates, but the beat was overshadowed by the guidance cut.

CEO John Chidsey said the company has already begun “taking decisive actions to strengthen execution and accountability,” including cost cutting and efficiency measures aimed at offsetting near-term pressures.

Shares of other cruise lines, including Carnival and Royal Caribbean, traded slightly lower after the report.

Separately, three people have died and at least three others are sick after a suspected outbreak of hantavirus aboard a cruise ship sailing in the Atlantic Ocean, the World Health Organization said Sunday. Though that ship isn’t operated by one of the large publicly traded cruise liners, the news poses a potential reputational risk for the industry.

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J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

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Meta surges on report it’s starting a cloud business to sell excess AI compute

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markets

Paige Oamek6/30/26

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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