Business Briefs

Reported by Star-Bulletin staff & wire

Wednesday, September 15, 1999

Pacific Century stock seen rising sharply

Bank of Hawaii One Wall Street analyst today remained high on Pacific Century Financial Corp., predicting the stock could rise about 42 percent in the next year.

Thomas H. Hanley, analyst at Warburg Dillon Read Inc., today reiterated his "buy" recommendation on Pacific Century, two days after the Bank of Hawaii parent announced a dramatic restructuring plan. Hanley set a 12-month target price of $27 on Pacific Century's shares. The stock, traded on the New York Stock Exchange, gained 6 cents today to close at $19.12, after a 4 percent rise yesterday. Pacific Century shares hit a 52-week high of $24.94 in January and a 52-week low of $15.50 in October.

Owner to shut down Sun Press papers

The owner of the Sun Press plans to shut down the neighborhood newspapers next month.

RFD Publications Inc. told employees this week that it would be closing the Windward Oahu and Hawaii Kai editions of the Sun Press on Oct. 1. The company plans to start a Windward edition of its Midweek newspaper. Ken Berry, publisher of the Kaneohe-based Sun Press, did not return calls seeking comment and there was no word on how many jobs would be affected by the closings.

Hackers vandalize Nasdaq, Amex sites

WASHINGTON -- Computer hackers vandalized the Internet sites early today for Nasdaq and the American Stock Exchange in a bold electronic affront to the world's financial markets. A group calling itself "United Loan Gunmen," infiltrated the computer running the Web sites for Nasdaq and Amex just after midnight.

It was extraordinarily unlikely the hackers would have been able to manipulate any financial data within the exchanges. Nasdaq recently acquired the American Stock Exchange. "Our sites are working perfectly," spokesman Scott Peterson said. The hacker group claimed to have briefly created for itself an e-mail account on Nasdaq's computer system, suggesting a broad breach in the system's security.

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