Stocks for companies based in Hawaii continue to take a huge hit, especially after the Dow Jones dropped 519 yesterday. There were only 3 Hawaii based companies that made gains on the day. The 519 points that the Dow dropped was a drop of 4.62% and the day closed with the Dow Jones at 10,719.94.
The market has been fluctuating wildly the last week or so, and with the announcement that Standard and Poor’s would downgrade the U.S. credit rating to a AA+, the markets have been on an up and down roller coaster.
Hawaii based companies have seen their stocks drop pretty bad. Here are some of the biggest Hawaii companies that took a hit yesterday.
Companies that Lost
Alexander & Baldwin Inc. (NYSE: ALEX) closed at $38.28, down $1.77.
Bank of Hawaii Corp. (NYSE: BOH) closed at $39.27, down $2.21.
Barnwell Industries Inc. (AMEX: BRN) closed at $3.42, down 8 cents.
Central Pacific Financial Corp. (NYSE: CPF) closed at $10.36, down 92 cents.
Hawaiian Electric Industries Inc. (NYSE: HE) closed at $21.50, down 45 cents.
Hawaiian Holdings Inc. (Nasdaq: HA) closed at 3.84, down 29 cents.
Hawaiian Telcom Holdco Inc.(Nasdaq: HCOM) closed at $20.72, down 42 cents.
Territorial Bancorp Inc. (Nasdaq: TBNK) closed at $19.35, down $1.01.
Companies that Gained
Cyanotech Corp. (Nasdaq: CYAN) closed at $3.66, up 9 cents.
Hoku Corp. (Nasdaq: HOKU) closed at $1.69, up 1 cent.
Maui Land & Pineapple Co. (NYSE: MLP) closed at $4.64, up 37 cents.
We will see how the next few weeks play out, but we can’t expect local companies to prosper while the economy is fluctuating so badly.
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