Diamonds and Dogs

5/1/24

New IPO, Viking Holdings (VIK) having a good day. The European river and luxury cruise line company stock is up 8%, raising $1.5 billion in the public offering even as Norwegian Cruise Line reported disappointing quarterly results. Viking is a high-end niche player with smaller ships, no kids, caters to wealthy and older Americans.

CVS Health (CVS) is down 17% to a 52-week low and three year low after posting disappointing earnings and cutting its profit guidance, and headed for its worst day since November 2009. CVS is warning of rising costs as members seek more treatment in the wake of Covid. Other healthcare providers are pulling their guidance due to government reimbursement challenges. One analyst downgraded the stock to market perform from outperform.

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