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Carnival Cruise reports earnings tomorrow before the open.
We went on our first Carnival Cruise in December.
It was a lot of fun.
There was a lot to do.
And a lot to eat.
Carnival has beaten earnings estimates the past 4 quarters.
It will probably beat again tomorrow.
Will it be smooth sailing for the stock?
We don’t think so.
Brexit has meant “exit” for stock investors.
Investors will be looking at guidance from Carnival.
The cruise industry has 3 main areas of travel:
* The Caribbean
Most of the Europe cruises are filled with Europeans.
With a weakening pound sterling, they will book less European cruises.
And the tourists on the European cruises will spend less on incidentals and port excursions.
We predict Carnival could face turbulence and rough waters the next few months, in spit of expenses (particularly fuel costs) being down significantly.
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