Carnival Corp. CCL, -1.94% disclosed Tuesday that it suspending its dividend and the repurchase of its common stock, in an effor to improve liquidity as the spread of COVID-19 has led to the pause of its fleet cruise operations. The cruise operator said it is also reducing capital expenditures and operating expenses and pursuing additonal financing, and expects a a net loss for the fiscal year ending Nov. 30. As a result of these actions, the company expects to generate sufficient liquidity to remain in compliance with its debt covenants for the next 12 months, prior to giving effect to any additional financing. the stock rose 0.2% in premarket trading after falling 28% over the past two sessions. Separately, Carnival said it has received and expects to continue to receive lawsuits from passengers abor the Grand Princess voyage in February and may receive additional lawsuits stemming from COVID-19. The stock has plunged 74.8% over the past 3 months through Monday, while the S&P 500 SPX, -2.37% has lost 18.7%.