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Dow Jones Today: Stocks Tick Up as Dow Builds on 40K; NCLH Gains

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Dow Jones Today: Stocks Tick Up as Dow Builds on 40K; NCLH Gains

Norwegian Cruise Lines Leads S&P 500 on Raised Guidance

8 minutes ago

Norwegian Cruise Line Holdings (NCLH) was the best-performing stock in the S&P 500 Monday morning after the Miami-based cruise operator raised its full-year guidance amid strong demand. 

Norwegian on Monday raised its adjusted earnings per share forecast to $1.42 from $1.32. The company also upped its net yield forecast to 7.2% from 6.4%, as well as its forecast for adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), which was raised to $2.3 billion from $2.25 billion.

Monday’s update is the second such increase to Norwegian’s earnings guidance this year. The company raised its outlook for all three of the metrics above when it reported first-quarter earnings at the beginning of the month.

“We have continued to see strong demand and record bookings,” said chief financial officer Mark Kempa in a press release. 

Shares of Norwegian were up more than 7% Monday morning. Competitors Royal Caribbean (RCL) and Carnival (CCL) each traded more than 5% higher.  

Johnson Controls Stock Rises As Elliott Reportedly Takes $1 Billion-Plus Stake

1 hr 23 min ago

Shares in Johnson Controls International (JCI) moved higher in early trading Monday after Bloomberg reported late Sunday that activist investor Elliott Investment Management has taken a significant stake in the industrial conglomerate.

According to people familiar with the matter, the New York-based hedge fund has built a position in the company valued at over $1 billion, though the intentions for taking the stake couldn’t be immediately learned, the report said.

Source: TradingView.com.

Since bottoming out in late October last year, the Johnson Controls share price has trended mostly higher, with the 50-day moving average (MA) crossing above the 200-day MA in March to form a bullish golden cross buy signal. More recently, investors promptly stepped in to buy the dip below the 50-day MA, suggesting underlying strength in the stock. 

Following the news that Elliott has taken a significant stake in the company, it’s worth keeping an eye on a key area of chart resistance around $70 that has been in play since early last year. A convincing close above this technically important area could lead to a retest of the stock’s all-time high (ATH) at $81.77 set in December 2021.

Johnson Controls shares were up 2.9% Monday morning, bringing their year-to-date return to 23%.

Timothy Smith

Stock Futures Tick Up

2 hr 40 min ago

Futures contracts connected to the Dow Jones Industrial Average were effectively flat Monday morning.

S&P 500 futures rose 0.1%.

Nasdaq 100 futures were up about 0.2%.

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