Why Carnival Corporation Stock Popped Nearly 7% This Morning
Shares of cruise giant Carnival Corporation (NYSE: CCL) popped nearly 7% in early trading Friday before seeing those gains cut about in half. As of 1:05 p.m. EDT, however, Carnival stock was still up a good 3.5%. As Reuters reports this morning, Carnival plans to lay off 820 employees in Florida, and furlough a further 537, as the company remains under CDC-imposed restrictions laid down in a "no-sail" order that was extended in April.