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The Carnival share price plunges 60%! Should I buy the stock?

first_img “This Stock Could Be Like Buying Amazon in 1997” See all posts by Rupert Hargreaves I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Image source: Getty Images Rupert Hargreaves has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Enter Your Email Addresscenter_img Over the past 12 months, the Carnival (LSE: CCL) share price has plunged a staggering 60% excluding dividends. This performance has taken the stock down to levels not seen since the financial crisis. In my opinion, this decline is warranted. Since March last year, the group has been unable to run most of its cruises. The result has been a staggering decline in sales. For the three months to the end of August 2019, Carnival’s revenues totalled $6.5bn. For the same period in 2020, the organisation brought in just $31m. That’s a 99.5% decline in revenues year-on-year. 5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…But as the world’s coronavirus vaccination rollout gets underway, the outlook for the Carnival share price is beginning to improve. As such, I’ve recently been taking a closer look at the business to see if it could be worth adding the stock to my portfolio. A return to growthThe most optimistic City analysts believe Carnival will be back up and running in 2022. In this optimistic scenario, analysts estimate the group’s revenues could hit $16.5bn for its 2022 financial year. Unfortunately, this recovery is by no means guaranteed. The optimistic projection assumes consumers will be happy to travel again and return as soon as restrictions are lifted. This may or may not happen. Even if it does, forecasts for profitability are pretty disappointing. Carnival has had to borrow billions of dollars over the past 12 months to keep the lights on. The interest costs on these debts are expected to eat up the majority of the group’s income going forward. These are the primary challenges the business faces, but there are also opportunities. Over the past 12 months, UK consumers have saved a tremendous amount of money by not going on holiday. They may rush to spend these funds when the pandemic recedes. The same is true of consumers elsewhere. This may mean even the most optimistic analyst projections are currently too conservative. Further, some of Carnival’s peers have not been so lucky and have collapsed. This could play into the group’s hands over the next few years, as it snaps new business from former competitors. The outlook for the Carnival share price Carnival faces plenty of challenges in the years ahead. The company also has plenty of opportunities. This makes it challenging for me to establish if the stock is worth buying at current levels. What really concerns me is the group’s level of debt. At the end of its last fiscal quarter, the company had net debts of $17.5bn, up from just $9bn at the end of fiscal 2018. This is incredibly concerning for a business that has no revenues, and I’m not particularly eager to buy stocks with a massive amount of debt. As such, I am going to avoid the Carnival share price until there’s more clarity on its future.  I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Simply click below to discover how you can take advantage of this. Our 6 ‘Best Buys Now’ Shares The Carnival share price plunges 60%! Should I buy the stock? Rupert Hargreaves | Saturday, 13th February, 2021 | More on: CCL last_img read more

Syracuse joins Atlantic Coast Conference

first_img Comments Published on September 17, 2011 at 12:00 pm Contact Ryne: [email protected] Facebook Twitter Google+center_img Syracuse has accepted an offer to join the Atlantic Coast Conference, according to an SU Athletics press release. ACC Commissioner John Swofford announced on Sunday that the ACC Council of Presidents voted unanimously to accept Syracuse and Pittsburgh as its 13th and 14th conference members. Syracuse University Chancellor Nancy Cantor said the university’s Board of Trustees has voted unanimously to accept the ACC’s invitation, according to the release. ‘The ACC has enjoyed a rich tradition by balancing academics and athletics, and the addition of Pitt and Syracuse further strengthens the ACC culture in this regard,’ Swofford said in a press release. ‘Pittsburgh and Syracuse also serve to enhance the ACC’s reach into the states of New York and Pennsylvania and geographically bridges our footprint between Maryland and Massachusetts. With the addition of Pitt and Syracuse, the ACC will cover virtually the entire Eastern Seaboard of the United States.’ Syracuse and Pittsburgh cannot begin play in the ACC until the 2014 season due to a 27-month notice required before leaving the Big East. For the two schools to make the jump, they also have to pay a $5 million buyout to the Big East. With the move, the ACC becomes the first major football conference in the country with 14 schools. There is a lot of speculation that the conference will try and add two more schools to bring the total to 16, which would allow for two eight-team divisions.AdvertisementThis is placeholder text Syracuse and Pittsburgh have become the latest schools to switch conferences in a time of uncertainty in college athletics. Last summer, Colorado and Nebraska announced they were leaving the Big 12 for the Pac-12 Conference and Big Ten Conference, respectively. Utah also decided to move to the Pac-12 from the Mountain West Conference. All three programs are competing in their new conferences this season. And last November, the Big East announced Texas Christian would join the conference beginning in the 2012 season. That move is now unstable because Syracuse and Pittsburgh made their exit from the conference. ‘It’s nerve-racking for everyone in college athletics,’ TCU Athletic Director Chris Del Conte told ESPN on Saturday. ‘There are earthquakes going on all around us. And we don’t know when they’ll settle.’ The conference realignment talks started up again when Texas A&M was unanimously approved as the 13th member of the Southeastern Conference on Sept. 7. The move is being held up because Baylor is threatening to sue, and it will likely become official after the potential legal issues are resolved. Those moves and the one by Syracuse and Pittsburgh on Sunday center on the schools’ attempts to maximize revenue through television deals in college football, according to The New York Times. SU football head coach Doug Marrone said he is excited for the move. ‘Joining the Atlantic Coast Conference puts us in a strong position for the future,’ Marrone said in the SU release. ‘The ACC has quality schools academically and athletically. I look forward to competing against them.’ Syracuse was a founding member of the Big East conference, and Pittsburgh joined the Big East in 1982. In Daryl Gross’ eyes, Sept. 18, 2011, will be a day for fans to think back on as an important one in the history of Syracuse athletics. ‘Today is a day that we will remember for years to come,’ said Gross, SU’s director of athletics, in the SU release. ‘We are truly excited that academically and athletically we will be a member of the ACC, one of the nation’s premier collegiate athletic conferences. As ‘New York’s College Team,’ we plan to compete at the highest level across all of our sports and help to enhance this great conference.’ Syracuse will leave arguably the best basketball conference in the country in recent years for another historically competitive conference. Rather than facing traditional rivals Georgetown and Villanova, the Orange will compete with powerhouses Duke, North Carolina and Maryland. That makes the move attractive to SU head basketball coach Jim Boeheim. ‘In the ever-changing landscape of collegiate athletics, each school has to find the best fit. The Atlantic Coast Conference has a great basketball tradition, and we look forward to contributing to that,’ Boeheim said in the SU release. The other administrators and coaches in the ACC have expressed excitement in adding Syracuse and Pittsburgh. Duke basketball head coach Mike Krzyzewski, who had Boeheim on his USA basketball staff as an assistant, thinks the two schools and their rich traditions will bolster the ACC. ‘The addition of two prestigious academic institutions such as the University of Pittsburgh and Syracuse University, coupled with their great tradition in athletics, is a real coup for the ACC,’ Krzyzewski said in a press release. Cantor, SU’s chancellor, believes the move is the best for the school both academically and athletically. ‘We are very excited to be joining the ACC. This is a tremendous opportunity for Syracuse, and with its outstanding academic quality and athletic excellence, the ACC is a perfect fit for us,’ Cantor said in the SU release. ‘The ACC is home to excellent national research universities with very strong academic quality and is a group that Syracuse will contribute to significantly and benefit from considerably.’ [email protected]last_img read more

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