Royal Caribbean Cruises
Royal Caribbean Cruises (RCL), which is a cruise line brand founded in Norway and based in Miami, Florida, was the S&P 500’s second-best performer on June 14. After declining for two consecutive trading weeks, Royal Caribbean Cruises started this week on a stable note and regained strength as the week progressed. Royal Caribbean Cruises opened higher on June 14 and rose to seven-week high price levels.
The buying pressure in Royal Caribbean Cruises increased on Thursday after the announcement of the acquisition of majority stake in Silversea Cruises. Royal Caribbean plans to acquire two-thirds of a stake in Silversea Cruises for $1 billion. The acquisition would likely improve Royal Caribbean’s exposure to luxury and expedition cruise areas where Silversea Cruises is the leader. The acquisition improved the market sentiment on Royal Caribbean Cruises and sent the shares higher.
On June 14, Royal Caribbean Cruises gained 5.1% and closed the day at $113.50.
Comcast (CMCSA), which is an American global telecommunications conglomerate, was the S&P 500’s third-best performer on June 14. After closing higher last week, Comcast maintained the strength this week and moved higher as the week progressed.
The buying pressure in Comcast increased after it offered a higher bid to acquire Twenty-First Century Fox (FOX) than the previously accepted offer from Disney (DIS). At $35 per share, Comcast offered an all-cash proposal of $65 bill for Twenty-First Century Fox, which is a 19% premium over Disney’s offer. Amid a slowdown in the television business in the United States, the acquisition would likely help Comcast reach customers directly through Twenty-First Century Fox’s television and cinema infrastructure. The acquisition gives Comcast the chance to compete with Netflix—a leading Internet entertainment service provider.
On June 14, Comcast gained 4.6% and closed the day at $33.82.
Royal Caribbean Cruises and Comcast are part of the S&P 500 Consumer Discretionary sector, which gained 1.0% on Thursday.
Next, we’ll discuss how the US Dollar Index and Treasury yields performed in the early hours on June 15.