Why Royal Caribbean Cruises Stock Just Dropped 4.5%
After falling nearly 6% earlier today, shares of cruise line operator Royal Caribbean Cruises (NYSE: RCL) are down 4.5% in early afternoon trading. Instead, Royal Caribbean reported a bigger loss -- $1.48, adjusted for "a non-cash asset impairment loss." Revenue for the quarter was actually slightly ahead of expectations at $2.03 billion, but investors are giving Royal Caribbean no credit for that today.