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The Honolulu Advertiser
Posted on: Friday, October 10, 2008

Companies in Hawai'i also suffer

 •  Free fall deepens recession fears

Advertiser Staff

Shares of Hawai'i companies tumbled as stocks continued their October swoon and major market indices slumped lower.

The local stock decline could be seen in the Honolulu Advertiser-Bloomberg Hawaii Index, which fell to its lowest level in its 14-month history.

Ten of 11 companies in the index registered declines. Three of them — Alexander & Baldwin, ML Macadamia and Maui Land & Pineapple — reached 52-week lows.

The index fell 5.44 points to 71.17, with Alexander & Baldwin falling $3.10 a share to $34.85.

Maui Land was off 12.5 percent in dropping to $16.93.

The lone stock that rose was Barnwell Industries, which traded at a 52-week intraday low before retracing its loss and ending the day up 10 cents at $6.60.

The Advertiser-Bloomberg index has fallen 25 percent this year.