Carnival Corp CCL shares are trading lower by $1.40 (3 percent) at $44.86 in Monday's session. After announcing a mixed Q3 report that included an adjusted EPS miss of $0.22, the Street is mostly ignoring its raised FY 2016 guidance from $3.25 -$3.35 to $3.33-$3.37.
In early trading, the raised guidance overruled the mixed quarter as the issue sprinted to $48.24. That level was just shy of its monthly high from September 1 at $48.70.
Following the reversal in price, the issue swooned to $45.80 and is struggling to remain in the $46 handle. The current low coincides with its September 20 low at $45.93, but is still above its September 21 low of $45.46.
One possible explanation for the issue not holding its early gains may be the statement from a Carnival executive on its conference call that the company is not ready to give guidance for 2017.
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