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Cozumel, Mexico, Cruise Port Pier, docked
Cozumel, Mexico, Cruise Port Pier (Jeffrey Greenberg/Getty Images)

Cruise stocks take on water during big market sell-off

Major cruise lines are among the worst-performing stocks in the S&P 500 as the market sells off.

Nia Warfield

Cruise stocks have been some of the hardest hit in today’s sell-off, with shares of Carnival, Royal Caribbean, and Norwegian Cruise Line all slipping more than 6% in recent trading. The sharp drop comes as tariff concerns and economic uncertainty continue to rock the market, which could put pressure on discretionary spending like cruises.

Last month, cruise stocks tumbled after US Commerce Secretary Howard Lutnick suggested that cruise operators could soon be required to pay taxes.

Cruise lines have thrived after emerging from the pandemic, reporting record bookings and higher revenues per passenger as more Americans set sail. Royal Caribbean, Norwegian, and Carnival have all more than doubled their annual revenue over the past two years.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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