Louisiana Stocks Take Hit On Earthquake
BATON ROUGE, La. (AP) — The crisis with Japan's earthquake-damaged nuclear power stations is cutting into the stock prices of two Louisiana companies with heavy interests in the nuclear industry.
Shares of Baton Rouge-based The Shaw Group Inc. have slid nearly 20 percent. The stock is down $7.54 at $30.84. Shaw has a 20 percent investment in Westinghouse nuclear power and has the contracts for several new nuclear plants in the United States and China.
Shaw chief executive Jim Bernhard says, though, that he doesn't expect the problems in Japan to have an effect on those projects. He says Shaw's customers "have indicated they intend to move forward."
Shares of Entergy Corp. are down 3.9 percent, shedding $3.88 to $69.81. New Orleans-based Entergy owns or manages 12 nuclear power plants in the United States.