Reported by Star-Bulletin staff & wire
Wednesday, July 3, 1996
Reported by Star-Bulletin staff & wire
Wednesday, July 3, 1996
The airline hopes to bring 400 people a week from Hiroshima to Hawaii. The official, Yasuhiro Okanishi, said the United States has said it won't approve regular service on that route after trade talks broke down last week. However, Okanishi said that Thursday's flight was allowed on a temporary basis.
The central bank concluded a two-day meeting with a brief announcement indicating rates had been left unchanged.
The decision to leave rates steady for the time being had been expected by many economists, who argued that the central bank wants to see more information on the economy before changing the direction of interest rate policy.
Still, there is a widespread belief that the central bank is about to begin applying the brakes to the U.S. economy. "The Fed is going to tighten. The only question is when," said David Wyss, an economist at DRI-McGraw Hill Inc.
It was the lowest since May 30, when rates averaged 8.03 percent.
On one-year adjustable rate mortgages, lenders were asking an average initial rate of 5.94 percent, down from 5.98 percent last week. Fifteen-year mortgages, a popular option for those refinancing mortgages, averaged 7.67 percent this week, down from 7.82 percent.
The rates do not include add-on fees known as points.
Shares of Boyd fell $2.50 to close at $12.75 on the New York Stock Exchange, according to Bloomberg Business News.
Boyd said net income for the quarter ended June 30 is expected to be 2 cents to 4 cents a share, including charges of 4 cents to 6 cents related to recent refinancing and for some development costs.
The Las Vegas-based company was expected to earn 22 cents a share, based on the average estimate of eight analysts surveyed by Zacks Investment Research. Boyd had earnings of $12 million, or 21 cents a share, on revenue of $168 million in the year-ago period.
Bear Stearns & Co. analyst Jason Ader cut Boyd Gaming to "neutral" from "attractive."
The company blamed its forecast on poor performance at Sam's Town Tunica in Mississippi and Sam's Town Kansas City, two of its casino hotels.
Boyd also runs the California Casino and Hotel and the Fremont Hotel and Casino, both in Las Vegas. The establishments cater to Hawaii residents, who provide the majority of their business.