The plunging price of oil helped create 2014's biggest winners and losers on the stock market. The price of U.S. crude lost half its value in the second half of the year. That made life good for major consumers of fuel such as airlines, and bad for energy companies such as offshore drillers. The three worst-performing stocks in the Standard & Poor's 500 index were energy companies.
Here are the winners and losers:
The Winners:
— Southwest Airlines, up 128 per cent. This airline soared past the rest of the S&P 500 index as its fuel costs fell sharply along with the price of oil.
— Electronic Arts, up 108 per cent. The video game maker said in the summer it would expand a popular subscription service to international markets, and in the fall it raised its profit forecast for 2015.
— Edwards Lifesciences, up 97 per cent. This maker of medical devices benefited from the approval of a second-generation version of its implantable heart valve.
The Losers:
— Transocean, down 63 per cent. This offshore oil and gas driller sank as demand for its services dwindled.
— Denbury Resources, down 52 per cent. This oil and gas producer said in November that it plans to cut its 2015 capital spending by half because of the drop in oil prices.
— Noble Corporation, down 49 per cent. Another offshore drilling contractor impacted by the plunge in the price of crude.
This content appears as provided to The Globe by the originating wire service. It has not been edited by Globe staff.