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Shares of travel-industry companies moved higher on Tuesday, lifted by the news that Trip.com Group (TCOM), the largest online travel service in China, topped sales and profit estimates for the second quarter.
Signs of resilience in the Chinese travel market in Trip.com's report, driven by demand for cross-border travel, helped boost several U.S.-based travel stocks. Cruise operators Norwegian Cruise Line (NCLH), Royal Caribbean Cruises (RCL), and Carnival (CCL) all rose, as did online travel platform Expedia (EXPE).
Trip.com reported a 14% year-over-year increase in revenue in the second quarter. A higher number of people traveling in China—especially in the periods surrounding holidays—contributed to the strong sales performance. The company generated sales growth across all its revenue categories: accommodation, transportation ticketing, package tours, and corporate travel.
Trip.com's American Depository Receipts (ADRs) soared 8.6% in Tuesday's session following the strong earnings results. The upbeat results and indications of buoyant travel demand helped brighten the outlook for travel companies in the U.S.
A report by Zacks Equities Research, published Tuesday, highlighted numerous positives for cruise operators, including robust demand, strong bookings, solid pricing, and increased onboard spending. Analysts believe these trends could help the major operators—Norwegian, Royal Caribbean, and Carnival—achieve near-term growth.
Carnival on Tuesday announced the addition of new itineraries for seven of its ships set to sail in 2026 through 2027. Destinations include Half Moon Cay, a small private island in the Bahamas.
Meanwhile, Southwest Airlines, which also stands to benefit from improving travel demand, plans to meet with activist investor Elliott Investment Management on Sept. 6. Elliott remains committed to pushing for leadership changes at the airline. Its shares also rose today.
Travel platform Expedia beat quarterly estimates in its most recent report, released Aug. 8, boosted by strong demand in international markets. At the time, Expedia warned of challenging macroeconomic conditions and a potential weakening of demand, but the more recent strength from Trip.com could suggest a stabilization in the market.
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Shares of Hanesbrands (HBI) gained Tuesday after UBS boosted its price target on the stock to $6.50 from $5 while maintaining a "neutral" rating.
reported that UBS analyst Jay Sole wrote that the apparel maker could be at “a major inflection point” as Chief Executive Officer (CEO) Stephen Bratspies has increased spending on product innovation and marketing.
In addition, the sale of Hanesbrands' Champion business is scheduled to close before the end of the year, and that could put the company's earnings before interest and taxes (EBIT) margin at 15%, reported. The $1.2 billion deal with Authentic Brands Group was announced in June.
quoted Sole as saying that after meeting with management, “we believe HBI has an opportunity to flip the narrative around the stock for the first time in many years.” However, he kept the company's stock rating at neutral until Hanesbrands shows it can execute its strategy.
Hanesbrands shares traded Tuesday at their highest level since early 2023, rising 5.7% to $6.65 at close.
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A lady has being heartbroken after discovering what her boyfriend saved her contact as on his phone.
The lady has discovered that her boyfriend saved her number with son and this has left heartbroken.
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Chip giant Nvidia’s latest quarterly financial results, due Wednesday after the closing bell, will be one of the week’s most closely watched stock-market events. The results will land with shares of the AI chipmaker up more than 150% this year through Tuesday's close—and Wall Street is broadly bullish on the stock.
According to data as of late Tuesday, nearly all of the analysts covering Nvidia (NVDA) and tracked by Visible Alpha — 21 of 23 — have buy or equivalent ratings on the shares.
The Street’s mean consensus price target is $145.69, indicating a 14% premium to Tuesday's close above $128. The targets used in that consensus range from $100 to $180.
Investors will be watching for a dramatic move in the company's shares when the numbers arrive. Here’s what you need to know about Nvidia’s upcoming earnings report.
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Johann Rupert, South African billionaire and chairman of Richemont, a luxury goods conglomerate, has overtaken Aliko Dangote, chairman of Dangote Industries Limited, as Africa’s richest person.
According to the latest data from the Bloomberg Billionaires Index, Rupert’s net worth has surged to $14.3 billion, overtaking Dangote, whose fortune has declined to $13.4 billion.
The data shows that Rupert’s wealth has increased by $1.87 billion year-to-date, while Dangote’s fortune has declined by $1.69 billion. Nicky Oppenheimer, another South African billionaire, occupied the third place with $11.3 billion net worth, Nassef Sawiris, an Egyptian businessman, followed with $9.37 billion, and Natie Kirsh, a South African investor, completed the top five with $9.14 billion.
The downturn in Dangote’s net worth is largely attributed to Nigeria’s challenging macroeconomic environment, where his conglomerate primarily operates. Since President Bola Tinubu assumed office in 2023 and partially removed petrol subsidy while easing currency controls to attract foreign investment, the naira has lost its value.
The Dangote Group has faced production delays and other industrial issues at its refinery, compounded by the steep depreciation of the naira.
The decline has significantly impacted Dangote, whose wealth is largely tied to assets denominated in naira.
Despite the challenges faced, the Dangote Group plans to generate roughly $30 billion in revenue by 2025, focusing on expanding its influence in the foreign exchange market.
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