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Monday, September 01, 2014         

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Hawaii stocks suffer with rest of the market

By Star-Advertiser staff

POSTED:



Hawaii stocks were caught up in today's stock meltdown with Central Pacific Financial Corp., the parent of Central Pacific Bank, taking the worst hit as it fell 13.6 percent, or $1.64, to a 52-week low of $10.41.

Alexander & Baldwin Inc., the parent of ocean shipper Matson Navigation Co., also fell by double digits with a decline of 11.7 percent, or $5.03, to $38.09. After the market closed, A&B reported a 35.3 percent drop in second-quarter earnings.

Local banks were particularly hit hard as Territorial Bancorp Inc., parent of Territorial Savings Bank, fell 8.5 percent, or $1.78, to $19.05; Bank of Hawaii Corp. tumbled 7.9 percent, or $3.40, to $39.64; and Hawaiian Electric Industries Inc., parent of American Savings Bank, sank 6.6 percent, or $1.48, to $21.06.

Other big losers included Hawaiian Holdings Inc., parent of Hawaiian Airlines, down 8.7 percent, or 37 cents, to $3.87; Hawaiian Telcom Holdco Inc., off 7.3 percent, or $1.66, to $20.05; and Maui Land & Pineapple Co., down 7.9 percent, or 38 cents, to $4.45.

The only Hawaii-based stocks to rise today were alternative energy supplier Hoku Corp., which rose 4 percent, or 6 cents, to $1.56, and Cyanotech Corp., a producer of human nutritional products from microalgae, up 0.3 percent, or 1 cent, to $3.28.






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