Cruise Stocks Dragged Down by Carnival's 3Q Results
Shares of cruise operators tumbled in morning trading on Friday after Carnival Corp. posted a larger-than-expected loss and disappointing revenue for the fiscal third quarter.Carnival stock plunged more than 20%, to $7.30 a share, the lowest price seen for that stock since the early 1990s.Shares of Royal Caribbean Cruises Ltd. fell almost 11%, to $39.02 a share, while Norwegian Cruise Line Holdings Ltd. stock fell 15%, to $11.78 a share.Carnival has more exposure than its rivals to the mass-mark