10 Stocks End With Solid Performance

3. Hawaiian Electric Industries Inc. (NYSE:HE)

Hawaiian Electric jumped by 10.19 percent on Friday to finish at $11.46 each, following S&P Global’s revised outlook for the company to positive from negative previously.

The revision followed a favorable decision by Hawaii’s Supreme Court last month, which sided with the company from insurance firms seeking to claim money from those responsible for the Maui wildfire. According to the court, insurers cannot sue defendants for amounts exceeding the settlement agreed to by the plaintiffs once the settlement is finalized.

In addition, HE successfully divested a 90.1 percent stake in American Savings Bank late last year, which generated $384 million in net proceeds for HE.

S&P’s positive outlook for HE spelled good news as it would potentially spare the company from $1.99 billion worth of wildfire-related exposure.