Diamonds and Dogs
Carnival (CCL) had a miracle quarter. The largest cruise ship operator is up 7%, its biggest jump in a decade, following earnings and a 2020 outlook that topped expectations. Earnings beat by 11 cents as sales rose 7% ahead of expectations. Sentiment was so overwhelmingly negative, it didn't take much good news to improve the stock price. The turn around was called a "Christmas miracle," by one analyst.
If it wasn't for bad luck, Boeing (BA) wouldn't have any luck at all. Boeing is down a percent not far from a 52-week low on a number of headlines that are not favorable. First, Boeing's Starliner plane was not able to dock with the international space station on its initial test flight. Another mechanical error which is becoming all too familiar at Boeing. Regarding their 737 Max airliners, United Airlines announced their fleet of 737 MAX planes will remain grounded until June 4, 2020, at the earliest, resulting in the cancellation of thousands of flights each month. Boeing is one of America's largest manufacturers as well as its No.1 exporter. The production shutdown at Boeing for the 737 Max if it lasts through the entire first quarter could knock a half-percentage point off the annualized first-quarter GDP growth rate,