Page 24 - ARUBA TODAY

Thursday 11 May 2017 BUSINESS
A24

US stocks rise as energy firms rally with oil prices Tesla starts selling

solar roof; savings
By MARLEY JAY tors may just wait and see, by 5.2 million barrels last support prices. U.S. oil has to cover expenses
AP Markets Writer in which case stocks will week. That was bigger than traded between around
NEW YORK (AP) — Energy stay in the range they’ve analysts expected. Crude $45 and $55 a barrel this By DEE-ANN DURBIN
companies jumped with traded in for the last few inventories are returning year as investors worried AP Auto Writer
the price of oil Wednesday, DETROIT (AP) — Electric car
but overall, stocks finished maker Tesla has added an-
only slightly higher as a qui- other product to its lineup:
et week of trading contin- Solar roof tiles.
ued. As of Wednesday, custom-
The price of U.S. crude oil ers worldwide could order
jumped 3 percent as fuel a solar roof on Tesla’s web
stockpiles kept shrinking, site. Installations will be-
and that made investors gin next month in the U.S.,
more optimistic about ener- starting with California. In-
gy company profits. Strong stallations outside the U.S.
earnings from video game will begin next year, the
maker Electronic Arts and company said.
chipmaker Nvidia helped The glass tiles were unveiled
technology stocks move by Tesla last fall just before
up. However weak results the company merged with
from Priceline and Disney solar panel maker SolarCity
hurt consumer-focused Corp. They’re designed to
companies, and health look like a traditional roof,
care stocks also stumbled with options that replicate
as drug companies fell. slate or terracotta tiles. The
Investors didn’t react solar tiles contain photo-
much to President Donald voltaic cells that are invis-
Trump’s surprise decision Five Point Holdings Chairman and CEO Emile Haddad, center, rings a ceremonial bell, and is ap- ible from the street.
to fire FBI Director James plauded by New York Stock Exchange President Tom Farley, right, as his IPO starts trading on the Tesla CEO Elon Musk said
Comey on Tuesday eve- floor of the NYSE, Wednesday, May 10, 2017. one of the drawbacks to
ning. U.S. stocks also had (AP Photo/Richard Drew) home solar installations
little reaction to the French has been the solar panels
presidential election last months. to more normal levels af- about oil prices and profits themselves: They’re often
weekend, although Euro- The Standard & Poor’s 500 ter they swelled to record at energy companies. The awkward, shiny and ugly.
pean indexes climbed fol- index picked up 2.71 points, highs the last few years. S&P 500’s energy sector Buyers will want Tesla’s roof,
lowing the win by centrist or 0.1 percent, to 2,399.63, Benchmark U.S. crude has dropped 10 percent in he said, because it looks as
candidate Emmanuel Ma- a fraction of a point above surged $1.45, or 3.2 per- 2017. good or better than a nor-
cron. the all-time high it set Mon- cent, to $47.33 a barrel Nvidia advanced $18.35, mal roof.
“It’s almost as if the market day. The Dow Jones indus- in New York. Brent crude, or 17.8 percent, to $121.29. “When you have this in-
has become numb,” said trial average shed 32.67 the international standard, Nvidia tripled in value in stalled on your house,
Julian Emanuel, an equity points, or 0.2 percent, to gained $1.49, or 3.1 per- 2016 and had wobbled you’ll have the best roof
strategist for UBS. “Inves- 20,943.11 as Disney and cent, to $50.22 a barrel in early this year. Electronic in the neighborhood. The
tors are interpreting this as Boeing slumped. The Nas- London Arts, which makes games aesthetics are that good,”
more noise.” daq composite finished EOG Resources gained including “The Sims” and Musk said in a conference
Emanuel said investors at a record for the fourth $2.90, or 3.2 percent, to “Mass Effect,” rose $12.15, call with media.
are focused on econom- day in a row as it rose 8.56 $94.54 and Chevron add- or 12.7 percent, to $108.16. The roof is guaranteed for
ic growth and the Trump points, or 0.1 percent, to ed $1.42, or 1.4 percent, to Emanuel, of UBS, said inves- the life of the home, which
administration’s business- 6,129.14. The Russell 2000 $106.50. tors are rewarding com- is longer than the 20-year
friendly agenda. Until they index of small-company Crude oil prices have fallen panies that are reporting lifespan for a typical, non-
have a clearer understand- stocks was up 7.73 points, in recent weeks as investors strong earnings growth but solar roof,
ing of how well the econo- or 0.6 percent, to 1,399.59. wondered if the members don’t depend too much on Musk said. It has gone
my is doing and whether Oil prices made big gains of OPEC and other key oil- faster economic growth. through the same hail, fire
Trump’s policies will be im- as reports showed U.S. producing countries will be That includes technology and wind testing that nor-
plemented, he said inves- crude stockpiles dropped able to limit production and companies and banks.q mal roofs endure.
Mylan 1Q profit surges on acquisitions, tops forecasts Tesla’s web site includes a

calculator where potential
NEW YORK (AP) — Mylan which topped Wall Street Auto-Injector, whose sales company released a ge- buyers can estimate the
Inc. reported a surge in first- expectations by a penny, have suffered since Mylan neric version of the emer- cost of a solar roof based
quarter profit as acquisi- according to Zacks Invest- began selling a lower- gency allergy treatment at on the size of their home,
tions helped boost revenue ment Research. priced generic version. half the price of the brand- the amount of sunlight their
and offset declining sales The bulk of the revenue EpiPens are used in emer- ed option after the cost neighborhood receives
of its EpiPen allergy treat- increase came from sales gencies to stop anaphylax- drew scorn from parents and federal tax credits.
ment. of products acquired with is, the potentially fatal aller- nationwide and spawned They can also put down a
The generic drug devel- Meda AB and the topicals gic reactions to insect bites Congressional inquiries. refundable $1,000 deposit
oper reported a four-fold focused business of Renais- and stings and foods like Mylan shares have de- to reserve a place in line.
jump in profit to $66.4 mil- sance Acquisition Holdings. nuts and eggs. People usu- clined slightly since the be- Tesla said the solar tiles
lion, or 12 cents per share, Overall, those acquisitions ally keep multiple EpiPens ginning of the year, while cost $42 per square foot
as revenue rose 24 percent contributed $606.6 million handy at home, school the Standard & Poor’s 500 to install, making them far
to $2.72 billion. in sales. or work. But the syringes, index has climbed 7 per- more costly than slate,
Earnings, adjusted for The revenue boost helped prefilled with the hormone cent. The stock has de- which costs around $17
one-time gains and costs, offset a decline in sales epinephrine, expire after creased almost 7 percent per square foot, or asphalt,
were 93 cents per share, of the company’s EpiPen a year. The Britain-based in the last 12 months.q which costs around $5. q