BUZZ-Cruise stocks rise on broader market rebound after sell off

Shares of cruise operators up after falling on Friday, following comments by U.S. commerce secretary Lutnick on taxes on cruise ships on Thursday

Norwegian Cruise Line NCLH.N up 3%, Carnival CCL.N and Royal Caribbean Group RCL.N shares rise ~2% each

All three stocks fell between 3% and 6% on Friday

Morningstar analyst Jaime Katz says the price action seems to be in tandem with the broader market rebound

Brokerage UBS notes since cruise lines pay taxes, including port taxes, where they do business globally, hence international shipping cos have been historically exempted from income tax

Cites tax experts to say that change in tax treatment would require revision of tax code, and that exemption cannot be eliminated by treasury regulation or executive order

In 2024, NCLH rose ~28%, while CCL and RCL rose ~34% and ~78%, respectively