Regional companies fall along with another selloff
Published 1:30 pm Thursday, October 9, 2008
No sector involving Louisiana and Mississippi’s public companies was spared Tuesday as the Dow Jones industrials sank more than 500 points and all major indexes shed at least 5 percent.
The Dow Jones lost 508.39 to close at 9,447.11. Light, sweet crude oil for November delivery rose $2.25 to settle at $90.06 a barrel on the New York Mercantile Exchange.
As prices slid, four companies closed at new 52-week lows:
— Power provider Entergy Corp. slid $3.63, or 4.4 percent, to $79.29. Those shares had traded in a previous 52-week range of $81.18 to $127.48.
— The Shaw Group Inc., a major engineering-construction company, dropped $2.71, or 13.1 percent, and closed at $18.02. The previous 52-week range had been $18.52 to $77.30.
— Chemical maker Albermale Corp. fell $2.48, or 9.4 percent, to $23.95, below the previous yearly range of $24.23 to $48.37.
— Independent petroleum producer Energy Partners Ltd. dropped 75 cents, or 12.6 percent, to close at $5.21. The previous 52-week range had been $5.26 to $16.50.
Among regional banking companies, BancorpSouth Inc. dropped $3.27, or 11.9 percent, to $24.28, Hancock Holding Co. was down $2.43, or 5 percent, at $46.21, Iberiabank Corp. fell $1.92, or 3.5 percent, to $52.77 and Whitney Holding Co. dropped $1.83, or 8.3 percent, to $20.12.
Others in the petroleum-related sector also fell:
— Stone Energy Corp. fell $3.84, or 11.3 percent, to $30.25.
— PetroQuest Energy Inc. was down $1.74., or 16.3 percent, to close at $8.93.
— Tidewater Inc. dropped $3.34, to 7.1 percent, to $43.85.
— Hornbeck Offshore Inc. fell $1.14, or 3.6 percent, to $30.25.
Telecommunications provider CenturyTel Inc. was down 77 cents, or 2.1 percent, at $35.50.
Billboard operator Lamar Advertising Co. dropped $1.26, or 4.7 percent, to close at $25.73.
In the health care sector, Amedisys Inc. fell 52 cents, or 1.1 percent, to close at $48.17. LHC Group Inc. slide 1 cent, or .04 percent, to $27.01.
Poultry producer Sanderson Farms Inc. fell $1.38, or 3.8 percent, to $34.53. Egg producer Cal-Maine Foods Inc. dropped 30 cents, or 1.2 percent, to close at $25.57.