Norwegian Cruise Line shares rose 3.2% in afternoon trading after global oil prices slid 3%, easing cost pressures for the cruise operator. WTI crude broke below $70 per barrel while the 10-year Treasury yield dropped below 4.5%, providing a dual tailwind of lower fuel costs and increased consumer disposable income. The stock later cooled to $20.99, up 2.9% from the previous close. The move follows a recent insider purchase by director Stephen Pagliuca, who bought 1.38 million shares for nearly $25 million, nearly doubling his position.
Norwegian Cruise Line Holdings LtdOil prices slid 3%, easing fuel cost pressures for the cruise operator.