Cyanotech cleans up
Cyanotech Corp. posted a 6.5 percent gain to lead the way among local stocks in a week that saw the Bloomberg Honolulu Star-Bulletin index shrink to 10 members following the merger of Central Pacific Financial Corp. and CB Bancshares Inc. Cyanotech closed yesterday at $1.31.
The two banks began trading as one on Thursday and Central Pacific rose both days as a merged entity to end the week at $28. For the week, it was down 1.8 percent. City Bank's parent hit an all-time closing high of $96.58 on Monday before closing at $95 on Wednesday in its final day of trading. CB Bancshares slipped 0.8 percent.