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Reported by Star-Bulletin staff & wire
Wednesday, September 20, 2000
Analyst sees jump for Schuler shares
A stock analyst predicts that the value of Schuler Homes Inc. shares will jump about 116 percent to $20 a share within a year.John Stanley of UBS Warburg raised the stock's recommendation to a "buy" from a "hold" yesterday. The Honolulu-based home builder's share price rose 25 cents to $9.25 today on the Nasdaq market. The stock is up about 42 percent so far this year.
Of the three Wall Street analysts who track Schuler, two call it a buy and the other rates it a hold. Schuler, which develops homes in Hawaii, Arizona, California, Colorado, Oregon and Washington, announced last week that it was buying California home builder Western Pacific Housing.
Schuler had a 63 percent increase in second-quarter profit to $10.9 million from $6.7 million last year.
Wedding businesses try to renew tourism
An organization of Hawaii wedding organizers is offering married couples the opportunity to renew their vows on the island of their choice, in special ceremonies that start at $250 each.The organization, I Do Hawaii, will kick off the promotion with a ceremony at 4 p.m. Tuesday on the lawn of the Royal Hawaiian Hotel in Waikiki for Richard and Marjorie Wright, celebrating 50 years of marriage. Gov. Ben Cayetano will toast the San Rafael, Calif., couple and the ceremony will be carried live on the Millennium Commission's Web site, www.HI2K.net. The renewal promotion, designed to encourage couples to visit Hawaii, will continue through next year. It is supported by the Hawaii Millennium Commission, the Hawaii Tourism Authority and by tourist and wedding businesses.
In other news . . .
KANSAS CITY, Mo. -- Shares of Sprint Corp., the No. 3 U.S. long-distance carrier, fell $1.44 to nearly a three-year low of $26.81 today after the company warned of lower-than-expected third-quarter earnings. The company said it expects third-quarter earnings of between 45 and 47 cents a share for its FON Group. Wall Street analysts had expected the company to earn 49 cents.