Howzit Howard - Stocks Market - Hawaii News Now - KGMB and KHNL

Howzit Howard - Stocks Market

(HawaiiNewsNow) - The DOW is down more than 300 points, but who's down and who's bucking the trend?

Some of the biggest losers are companies suffering from the slow pace of construction... Down 8% or more at this hour are US Steel, and Pulte Homebuilders.

Also down 8% are Tesoro, an oil company with no oil wells, and Fedex, which is cutting its profit forecast as people and companies ship fewer packages.

Bucking the trend are Netflix, attracting some bargain-hunters, General Mills, Bed Bath & Beyond, Dean Foods - the parent of Meadowgold, and Discover Financial Services, which says more people are using their Discover Cards, and without running up late fees, a pretty good economic sign if anyone would notice it.

Among local stocks, Bankoh got swept along in the current of declining bank stocks, even though it's one of the healthiest banks in the country, it's now trading a little above 25 dollars a share after trading at 35 as recently as July.

Central pacific is down 3%, Hawaiian Electric is down 2% and so is Alexander & Baldwin, while Hawaiian Airlines is down but only slightly.

The Yen is now trading at 76 and a third to the dollar, so it's backed away fractionally from its postwar strong point - but at this level, it's like a visitor from Japan who converts his currency suddenly has a third more money.

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