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BUSINESSFriday 4 March 2016
US stocks climb as energy companies keep rising Disney Cruises
plans to build
MARLEY JAY 16,943.90. The Standard & has risen more than 30 per- crash in Oklahoma City. two new ships
AP Markets Writer Poor’s 500 index edged up cent in three weeks, and The stock jumped 23 per-
NEW YORK (AP) — Stocks 6.95 points, or 0.4 percent, Brent crude has erased its cent Wednesday and The Associated Press
made modest gains on to 1,993.40. Tech stocks losses for the year. added another 87 cents, or CHICAGO (AP) Disney
Thursday as the market lagged, and the Nasdaq ConocoPhillips rose $2.07, 25.6 percent, to $4.27. The Cruise Line announced
once again turned high- composite index added or 5.7 percent, to $38.56 stock tumbled 74 percent Thursday that it is building
er late in the day. Energy 4 points, or 0.1 percent, to and Southwestern Energy in 2015. two new ships.
J.J. Kinahan, chief mar- The new vessels are sched-
John Bishop, foreground, works with fellow traders on the floor of the New York Stock Exchange. ket strategist for TD Ameri- uled to be completed in
Stocks made modest gains on Thursday as the market once again turned higher late in the day. trade, said that after Tues- 2021 and 2023. They will
day’s surge, investors are be built at the Meyer Werft
(AP Photo/Richard Drew) being patient and looking shipyard in Germany.
for good news about the The new ships will each
stocks led the way as inves- 4,707.42. jumped $1.13, or 18.2 per- state of the economy. That have about 1,250 state-
tors continued to hope that Stocks have eked out small cent, to $7.34. could come Friday morn- rooms, and will be slightly
oil prices have stabilized gains over the last two Chesapeake Energy con- ing, when the government larger than Disney’s newest
after almost two years of days, aided by steady oil tinued to skyrocket after reports its latest employ- ships, Disney Dream and
steep declines. prices and reports showing the company said it does ment figures. Disney Fantasy. The com-
For the second day in a the U.S. economy is on solid not expect to be pros- Kinahan said investors pany has two other ships
row, stocks opened with footing. After a big jump on ecuted or fined as part of will be looking for signs of as well, Disney Magic, and
small losses and gradually Tuesday, and the market is a federal investigation into growth in better-paying its first ship, Disney Wonder,
rose during the afternoon. on target for its third con- founder and former com- jobs, possibly in the manu- which launched in 1998.
Energy companies surged secutive weekly gain. pany head Aubrey Mc- facturing or health care in- Design plans, ship names
and are now slightly higher The price of U.S. crude wa- Clendon, who left the com- dustries, as opposed to res- and itineraries for the new
for the year. Industrial com- vered between small gains pany in 2013. taurants and hotels. vessels are still in devel-
panies like Caterpillar and and losses, finally closing Early Wednesday, McClen- “We know we’re not go- opment. The announce-
Deere also rose. Drugmak- down 9 cents at $34.57 a don was indicted by a fed- ing to be a manufacturing ment was made Thursday
ers led a decline in health barrel in New York. Brent eral grand jury on charges economy again,” he said, by Walt Disney CEO Bob
care stocks. crude, the benchmark for of rigging gas-lease bids. but investors hope to see Iger in Chicago at the an-
The Dow Jones industrial international oils, added 14 Later in the day officials an- some growth in manufac- nual meeting of company
average gained 44.58 cents to $37.07 a barrel in nounced that McClendon turing jobs instead of losses. shareholders. The new
points, or 0.3 percent, to London. The price of U.S. oil had died in a single-car The Commerce Depart- vessels will be Disney’s first
ment said orders to U.S. ships since Disney Fantasy
factories grew 1.6 percent launched in 2012.
in January, the biggest Disney ships are loaded
gain in seven months. A with company branding,
category that measures including activities, shows,
business investment rose decor and venues all
by the largest amount in 19 themed on Disney char-
months. acters and story lines. But
Mining equipment maker they’re also known for inno-
Joy Global climbed $2.77, vation, like virtual portholes
or 20.8 percent, to $16.09 in windowless staterooms
after its first-quarter sales that provide real-time
were stronger than ex- views of the sea using vid-
pected. 3D printer maker eo technology. That con-
Stratasys rose $3.64, or 17.4 cept has since been cop-
percent, to $24.53. The ied elsewhere in the cruise
company’s fourth-quarter industry. In the most recent
results were better than batch of annual awards
expected and it gave a from CruiseCritic.com, Dis-
strong forecast for 2016. ney Cruise Line won 11
first-place awards, includ-
Herbalife overstated growth, cites data errors ing, for Disney Dream, wins
in the categories of best
NEW YORK (AP) — Herb- The Los Angeles-based scheme, which involves similar to Avon, Amway overall large ship, best for
alife, the seller of supple- company cited a data- making money by recruit- and Mary Kay. families, best cabins and
ments and weight-loss base error as the cause, ing more salespeople in- In February, the company best public rooms.
products currently under saying “it had limited vis- stead of through selling disclosed that it is in talks “Disney is consistently rat-
federal investigation as a ibility into the likely rate of products. Such models are to with the Federal Trade ed one of the top cruise
potential pyramid scheme, change” in the metric plan, illegal because they even- Commission to potential- lines on Cruise Critic by
overstated its worldwide which it began using last tually collapse once there ly resolve the investiga- our members, and it’s a
growth in 2015. year. are no more people to re- tion surrounding its busi- line known for moving
The company said active The company has been cruit. ness practices. the needle with new and
new members worldwide under pressure from activ- Herbalife has defended Shares of Herbalife fell state-of-the-art features, so
grew 3.4 percent instead of ist investor Bill Ackman and its business practices, say- $4.28, or 7.6 percent, to we expect the same high
8.3 percent in 2015. Revised his Pershing Square Capi- ing it is confident in the $52.10 in morning trading. quality touches and focus
figures for the fourth-quar- tal Management LP for fundamentals of its busi- Its shares are up more than on innovation will be incor-
ter cut worldwide growth its business practices. He ness model, which it has 66 percent over the past porated on the new ships
to 3.2 percent from 16.7 has claimed that the com- said operates like a multi- year. as well,” said Colleen Mc-
percent. pany is running a pyramid level marketing company Daniel, managing editor of
CruiseCritic.com.
