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Cruise operator Carnival he has been hammered in the last year because the pandemic has left his ships sitting idle. The Group had an operating loss of $ 8.9 billion ($ 6.44 billion) in 2020, and also reported an operating loss of $ 1.5 billion over three months through February 28, 2021.
Sitting still has proven to be an expensive business – the average monthly carnival money to burn has reached $ 500 million in the first quarter of this year, which it says will rise to $ 600 million in the May quarter.
Keep her head above the water, the group is forced to raise $ 23.6 billion since the beginning of this crisis through debt and dilutive equity supply. With $ 11.5 billion in cash and short-term investments available, he says he now has enough liquidity for at least next year.
Faced with this situation, non-executive director Randall Weisenburger recently sold $ 17.5 million worth of shares on the New York Stock Exchange (NYSE) – which has a double share of Carnival – reducing its stake by 46 percent. He unloaded the shares in three major tranches at prices above $ 27, which is above the current price of $ 26 for the carnival.
No reason has been given for this major throw, and assuming a full return from just over a year ago, Weisenburger took advantage of the low Carnival ‘Crown Crunch’ and bought $ 10 million worth of shares at a final price of $ 8 each.
It also matches the prevailing sentiment in the market. As the spread of vaccines progresses, investors – including the Reddit brigade – are increasingly optimistic that Carnival will soon be able to launch. Its shares have risen fifth this year in London, and more than a quarter in New York, although the pandemic remains below previous levels.
Six of the nine carnival markets will be limited to limited summer cruise operations, and as the accumulated advanced reserves for next year exceed pre-crisis levels, this suggests that there is a thought-out demand.
But the important North American market remains stagnant, as restrictions imposed by the U.S. Centers for Disease Control and Prevention (CDC) mean that shipping from U.S. ports has not gone away until November.
However, the demand for sea voyages will eventually bounce back – albeit probably at a lower speed than by plane – and Carnival is the world’s largest sealine operator. While sitting on top of a staggering $ 21 billion net debt, it may be worth holding shares at 1,531p to overcome the pandemic’s recovery momentum. Hold to move.
When Covid-19 expanded from region to region last spring, production studios closed and TV advertisers began to cut budgets in the face of countless economic chaos.
FTSE 100 for the media giant ITV, the end result was a “challenging” year. The group revealed last month that sales fell 15.9 percent to 2.8 billion in the 12 months ended Dec. 31, while operating profits fell one-third to 325 million euros.
On the other hand, the group strengthened the tough measures it took in 2020, looking forward to this year. It expects to save around £ 100 million in cost savings between 2019 and 2022, compared to £ 55-60 million compared to previously estimated. In 2021 alone, ITV expects to save £ 30 million.
But despite the difficulties caused by the pandemic, the improvements were noticeable as the summer months began to ease. This year, the team said advertising revenue it is expected to rise by 60-75 percent in April to put most programs back into production.
ITV’s annual numbers were given by the UK in an interview with Oprah Winfrey, Duke and Duchess of Sussex, and came up to date. The highly anticipated broadcast, which ITV threw back £ 1 million, garnered an average of 11 million viewers through exciting ad slots.
A bright but still questionable background playing giants are spreading their influence, gaining exclusive television rights could increasingly become a key weapon in ITV’s arsenal.
In any case, non-executive director Duncan Painter seems to believe in the future. It bought 82,087 shares on 12 April for £ 1.21 per pound, for a total of £ 99,006. Painter was appointed in May 2018 and is on the team’s payroll committee.
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