Stock suppliers: Alphabet, Boeing, Norwegian Cruise Line, Carnival

The stock is trading higher. At the end of the check, the S&P 500 added 0.51 percent, while the tech-heavy Nasdaq Composite gained 0.45 percent. The Dow Jones Industrial Average rose 0.83% and the Russell 2000 rose 0.26%.

S&P 500 Big Stocks Today

Five S&P 500 stocks making big midday moves are:

• Norwegian Cruise Line (NCLH) +10.5%
• Carnival (CCI) +7.7%
• Super Micro Computer (SMCI) +5.8%
• Amentum Holdings AMTM +5.8%
• Royal Caribbean (Rd) +4.8%

The five worst-performing S&P 500 stocks with the biggest midday declines are:

• Constellation Energy (CEG) -7.3%
• NRG Energy (NRG) -6.4%
• Vistra (VST) -3.9%
• Boeing (nay) -2.7%
• AES (AES) -2.5%

Also, stocks worth noting include:

• Nvidia (NVDA) -0.4%
• Apple (AAPL) +1.6%
• Amazon (AMZN) +1.4%
• Alphabet (GOOGLE) -2.1%
• adze (TSLA) -0.9%

The Citi analyst is optimistic that the cruise sector’s rally will continue into 2025 and beyond.

Image source: Norwegian Cruise Line.

Cruise lines come after Citi raises price targets

Carnival (+7.8%), Royal Caribbean (+4.7%) and Norwegian Cruise Line (+10.1%) traded higher after Citigroup updated price targets on the stock reflecting a positive outlook. The analyst is optimistic that the cruise sector’s rally will continue through 2025 and beyond.

Norwegian Cruise Line is upgraded to buy from neutral, with its price target at Citi raised to $30 from $20. Citi projects 23% annual earnings growth over three years, which could reach 30% if Norwegian maintains a 2.5% yield/cost. Both scenarios point to strong earnings growth and extended multiples.

Related: Analysts navigate new stock price targets for Royal Caribbean, Norway

Citi also raised its price targets for Carnival and Royal Caribbean to $28 from $25 and $253 from $204, respectively, both with buy ratings.

The analyst added a “90-day positive catalyst monitor” on Royal Caribbean stock. Citi expects Royal to unveil a new long-term plan in the next two quarters, likely with its Q3 or Q4 earnings report.

The firm also says Royal Caribbean can reach $20 per share in earnings.

“While this would be a bold target at first glance, we don’t think the fundamentals are too bullish,” the analyst tells investors.

Alphabet falls on Google monopoly ruling

Alphabet shares lost 2% as the Justice Department still considers a possible breakup of Google.

The DoJ is considering antitrust measures that could prevent Google from using products like Chrome, Play and Android to give its search engine an edge.

Related: Analysts Reset Price Target on Alphabet Shares Ahead of Key Court Event in September

The proposed remedies include non-discrimination requirements through contracts and products, data sharing and interoperability rules and structural changes, according to a filing on Tuesday.

“Full remedy for these damages requires not only ending Google’s control over today’s distribution, but also ensuring that Google cannot control tomorrow’s distribution,” the DoJ said.

Google said the Justice Department’s proposals could harm consumers and businesses.

“Not only is AI a new industry, but it’s hard to think of a technology more important to America’s technological and economic leadership. Breaking up Chrome or Android would break them — and a lot of other things,” Lee-Anne Mulholland, head of regulatory affairs at Google, said in a blog post on Wednesday, thefly.com reported.

Boeing falls after union talks collapse

Boeing fell 2.6 percent after withdrawing a pay increase offer to 33,000 machinists who have been on strike since mid-September.

“The union has made non-negotiable demands far beyond what can be accepted if we are to remain competitive as a business. Given this position, further negotiations do not make sense at this time and our offer has been withdrawn,” said Stephanie Pope. CEO of Boeing Commercial Airplanes, said in an Oct. 8 statement.

More tech stocks:

• Analysts update price target on Meta shares in light of Q3 earnings
• Analyst updates Tesla stock price target ahead of key robotaxi event
• Analysts update outlook for Nvidia’s Blackwell chips amid AI boom

S&P Global Ratings said the shutdown would cost Boeing more than $1 billion a month, CNBC reported.

Wells Fargo expects increasing pressure on Boeing to raise cash in the near term. “Assuming a similar break this time, there could still be a chance to get a deal ahead of the Oct. 23 earnings,” the firm notes, thefly.com reported. Wells Fargo has an underweight rating on the stock with a $110 price target.

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