Updated at 12:10 p.m., Tuesday, August 7, 2007
Hawaiian Electric shares post biggest drop in 6 years
Advertiser Staff
Hawaiian Electric Industries Inc. shares today suffered their largest one-day drop since January 2001.HEI shares fell $1.31, or 5.7 percent, to close at $21.70 on the New York Stock Exchange, according to Bloomberg News Service. Shares hit a 52-week low of $21.01 in intraday trading.
The parent of Hawaiian Electric Co. and American Savings Bank said yesterday that second-quarter net income was 21 cents a share. That's less than the 35-cent estimate from analyst James Bellessa at D.A. Davidson & Co.
