BUSINESS BRIEFS
Central Pacific Financial dinged
Advertiser Staff
Central Pacific Financial Corp., parent of Central Pacific Bank, has been downgraded to "market perform" from "outperform" by analyst Frederick Cannon at Keefe, Bruyette & Woods, according to Bloomberg News.
The Honolulu-based company yesterday reported earnings in the three months ended Sept. 30 rose 14.4 percent to $20.6 million.
TECH FIRMS LINK IN MILITARY NICHE
Two Honolulu-based technology companies, Loea Corp. and Referentia Systems, announced a partnership aimed at expanding their military and government-related business.
Loea specializes in wireless communications while Referentia Systems does a variety of software development. The venture will be led by Jim Fordice, a retired captain in the U.S. Navy.
KAILUA BECOMING TRAVEL HOT SPOT
Kailua's star as a travel destination is rising, while Honolulu's is declining, according to TripAdviser, a Web site where people give travel advice and write travel reviews and opinions.
The Needham, Mass.-based company used several criteria to find upcoming travel destinations, including analyzing online search activity and postings. Windward O'ahu's Kailua ranked as the second-hottest U.S. travel destination for 2007, behind Anna Maria, Fla. Rounding out the top five were Siesta Key, Fla., Macon, Ga., and Breckenridge, Colo.
DOUGLAS EMMETT ADDS IPO SHARES
Douglas Emmett Inc., a real estate investment trust that owns property in Honolulu and Los Angeles, said underwriters of its recent initial public offering exercised an option to purchase an additional 9.9 million shares. It now has sold 75.9 million shares as part of the offering.
Emmett's Hawai'i holdings include the Bishop Place office building and the Harbor Court building.
