Lower Guidance Sinks Carnival Cruise LInes

Carnival Corp CCL shares are trading lower by $0.26 at $43.38 in Tuesday's session. Despite a Q2 beat of a dime along with a slight beat of revenues and $1 billion added to its buyback plan, the issue was unable to hold it early gains. The company narrowed its FY 2016 range, which came in below Wall Street estimates.

After a higher open, it raced to $46.16 before reversing course. The ensuing decline has taken the issue below Monday's close ($43.64) to $43.04 and is attempting to rebound.