This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Hurricane Irene Looms Off Carolina Coast

Stocks in this article: JBLU

Updated from 12:04 p.m. EDT with latest forecast from the National Weather Service and Subway shutdowns

NEW YORK ( TheStreet) -- Tropical storm-force winds began to batter the coast of North Carolina on Friday afternoon as Hurricane Irene descended upon the East Coast.

The brunt of the storm was expected to strike in the evening as a trough of low pressure was projected to intersect Irene and push it north with New York City lining up for a direct hit.

Hurricane Irene downgraded to a Category 2 Hurricane on Friday.

Hurricane Irene lost a slight amount of intensity on Friday as of 2:00 p.m. EDT with sustained winds at about 100 mph, but little change in strength was expected for the next 24 hours.

Since Thursday night's 115 mph winds, Irene has weakened a bit but the National Weather Service said the path of the hurricane remained relatively unchanged in the Atlantic Ocean as the storm pattern continued to move toward the North Carolina coast.

Irene carried sustained winds of 110 mph at 8:45 a.m. EDT, which dropped it to a Category 2 hurricane after it failed to gain as much strength in the warm Bahamas waters that meteorologists originally forecast.

"All indications point to this being a historic hurricane," President Barack Obama told the press from his vacation home in Martha's Vineyard, Mass. "The federal government has spent the better part of last week... to see to it that we are prepared."

New York City Mayor Michael Bloomberg made the unprecedented choice call for the mandatory evacuation of three neighborhoods by Saturday, and said that the entire subway system would begin to shut down at noon the same day.

Scenes at Rockaway, Queens after Hurricane Donna made landfall on Long Island as a Category 2 in 1960

"Weakening does not mean weak," Chris Vaccaro, a spokesman for the National Weather Service, told TheStreet. He said that Irene had winds of 115 mph to 120 mph for some time on Thursday, but added that the difference between the impact of 115 mph winds and 100 mph winds for the size of this storm was "academic."

Hurricane warnings stretched from North Carolina all the way up to New Jersey, and a watch was in effect from the New York/New Jersey border to the Massachusetts/New Hampshire border.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs