A J.P. Morgan analyst downgraded Boyd Gaming Corp. to "underweight," citing expectations for a slow recovery in the casino industry.

Last month, Boyd reported its second-quarter profit fell 41 percent as the recession prompted gamblers to curtail their spending. Revenue fell 8 percent to $423 million.

Boyd's California Hotel and Casino and other downtown Las Vegas properties are popular with Hawai'i residents. J.P. Morgan analyst Joseph Greff said the recovery will be slow in each of the company's areas of operation.

He cut his rating to "underweight" from "neutral" and lowered his price target to $7 from $10. Boyd Gaming shares fell 52 cents yesterday, or 5.3 percent, to $9.32. The stock has more than doubled in the year to date.

HAWAIIAN AIRLINES MOST PUNCTUAL AGAIN

Hawaiian Airlines had the nation's best on-time record and fewest flight cancellations in July.

The U.S. Transportation Department said Hawai'i's on-time performance of 93.6 percent was 16 percentage points above the industry's average of 77.6 percent.

The local carrier said it had just four cancellations out of 6,645 flights in July, topping the industry.

Hawaiian also was second among all airlines for baggage handling, with an average of two mishandled baggage reports for every 1,000 passengers.

SUMMIT WILL FOCUS ON HEALTH DISPARITIES

The disparities in health among Hawai'i residents will be discussed during a two-day conference starting Thursday at the Hawai'i Convention Center.

The 2009 Hawai'i Health Equity Summit will delve into health disparities between people in Hawai'i and the Pacific and look at what some communities are doing to address the inequities.

The summit is being hosted by the state Department of Health's Office of Health Equity and the Hawai'i Public Health Association. The cost to attend the conference for non-Hawaii Public Health Association members is $30; registration is available at http://www.hawaiipublichealth.org.