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Carnival Corp (NYSE: CCL) shares are trading higher by $1.60 (3 percent) at $65.10 in Tuesday's session.

The catalyst for the rally is a Q3 EPS beat of 9 cents along with a sales beat of $110 million. The company also raised the lower end of its FY 2017 EPS outlook.

After a higher open, Carnival continued in that direction until peaking at $66.25 and reversed course. That high coincides with its September 18 high of $66.09.

So far, the ensuing decline has not yet breached its early morning low of $64.78, but came within pennies of it before rebounding back into the $65.00 handle.

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