Carnival reports $2.9 billion loss, still assessing testing options for Nov. 1 cruises

Carnival Corporation reported a net loss of $2.9 billion, or $3.69 earnings per share, for the three months ending in August 2020.In a Thursday filing to the Securities and Exchange Commission, the company said it had a cash burn rate during the three-month period of $770 million as it nears the end of its seventh month without cruises in the U.S., its most lucrative market. The company said it is preparing to restart cruises in the U.S. as soon as Nov. 1 and has $8 billion in cash and alternate financing on hand, including $2.4 billion in the form of customer deposits.“At this time we have ev…

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HEDGE accordingly