Royal Caribbean swings to loss

MSN Money
Royal Caribbean (RCL) swung to a loss in its second quarter, hurt by the economic turmoil in Europe and a broad industry downturn after the Costa Concordia disaster in January. The cruise line company reported a loss of $3.6 million, or 2 cents per share. “The steady drumbeat of negative news emanating out of Europe is certainly having an impact,” CEO Richard Fain said in a statement. “As a result, we are seeing pluses and minuses in the different geographical markets — North America is holding up reasonably well; Asia is a big plus; but Europe is a pretty consistent minus.
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