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Midday Wrap: Carnival Hits the Rocks, Peloton Stumbles in Debut

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Carnival (CCL) - Get Free Report shares are down big Thursday after the Miami-based cruise line cut its fiscal 2019 profit outlook due to factors including an increase in fuel prices. 

Carnival shares dropped 8.18% to $44.13 Thursday.

The company expects the recent jump in fuel prices to cut profit by 8 cents a share.

Carnival also said weather-related disruptions, tensions in the Arabian Gulf and a ship-delivery delay are expected to cut 4 cents to 6 cents a share.

The fiscal year's adjusted earnings now should range $4.23 to $4.27 a share versus Carnival's previous guidance of $4.25 to $4.35. Analysts surveyed by FactSet were expecting $4.33 a share.

Shares of Peloton (PTON) - Get Free Report were falling in its debut on the Nasdaq Thursday after opening trading at $27 per share, below its suggested IPO price.

On Wednesday, Peleton announced it was pricing its public offering at $29 per share. The company is expected to raise $1.2 billion in its debut Thursday.

The lead bookrunners for the offering are Goldman Sachs and JPMorgan with UBS, Bank of America Merril Lynch, Barclays, UBS and Cowen also acting as bookrunning managers.

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