P.M. BRIEFING : Sale Question Hurts Hilton Stock

Hilton Hotel Corp.’s stock price dropped sharply today after its board ended a meeting without announcing any plans to sell or restructure the lodging and casino company, as some speculators had hoped.

Hilton shares fell $4.75 to $57 in early trading on the New York Stock Exchange.

After the board’s regular meeting on Wednesday in Beverly Hills, Hilton said today the board asked its financial advisers and management to further review acquisition bids as well as alternative plans and to report back to the board within the next several weeks.

The company reiterated that there is no assurance it will pursue any transaction.

The stock of Hilton has gone on wild price swings since the company put itself on the auction block last August, trading at a high of $115.50.