Dirk Meyer, who took over as AMD’s CEO in 2008 and helped stabilize the company, resigns as the board of directors looks for faster growth. – More than two years after taking over a struggling Advanced Micro Devices
and returning it to stability, Dirk Meyer has been forced out as CEO
of the world’s second largest chip maker by a board of directors apparently
looking for faster growth.
Meyer’s
resignation Jan. 10 surprised many indust…
Singapore shares are slightly higher at 9:29 a.m. but buying conviction is low given a lack of leads.
The STI is +0.1% at 3,157.27 and is expected to stay below 3,200. “The overall directional bias is still uncertain,” says Phillip Securities analyst Phua Ming-Weii; “barring major catalytic events, the final two weeks of the year are traditionally quiet.”
STI +0.1% at 3,201.97, off highs midday with market breadth evenly matched; 635 million shares traded vs 955 million at yesterday’s break; low volume likely symptom of uncertainty now index back above 3,200.
CIMB says December-February period is seasonally bullish for global equity markets, “but a break below 1,127 points for the S&P 500 would force us to change our view. Until this happens, we remain upbeat and expect a Christmas or pre-Chinese New Year rally before the major peak in 1Q-2Q11.”
Singapore stocks in broad-based advance, although gains generally modest. Gainers outnumbering decliners by 8.5 to 1.
STI +0.7% at 3,159.44, expected to face resistance at Tuesday’s 3187 intraday high. All FTSE ST sub-indexes positive.
“Direction still appears tenuous and we expect the local market to trade in a tight range,” says Kim Eng Securities; adds, Wall Street’s overnight gains based on “thinned-out holiday trade”.
Most active stocks in market comprise good mix of large, small caps, including Golden Agri-Resources (E5H.SG), +2.1% at $0.725, Gallant Venture (5IG.SG), +4.7% at $0.335, Genting Singapore (G13.SG), +2.0% at $2.04, Sapphire (589.SG), flat at $0.015, Viking Offshore & Marine (557.SG), +7.9% at $0.205.
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Penny stocks still most sought after in Singapore market, while blue chips generally thinly traded, according to Dow Jones.
FTSE ST Catalist Index +2.2% vs STI +0.1% at 3,014.86. Benchmark not expected to challenge year-to-date high of 3,043.
“At the moment, many investors can be likened to ‘headless chickens’ running about in a directionless environment and jumping into trades upon the slightest hearsay,” says CIMB analyst Jonathan Ng; “with interest shifting away from blue chips, we see a strong revival of interest in S-chips and penny stocks.”
Apple’s Sept. 1 event in San Francisco unveiled a new line of iPods, a revamped Apple TV, a music-oriented social network called Ping, and two upcoming revisions to its iOS mobile operating system. Together, these updates offer a fairly detailed picture of Apple’s short-term mobile strategy: Extend its strength in multitouch, as well as features such as multitasking, to devices beyond the iPhone 4. Apple TV and Ping also hint at Apple’s interests in both cloud-based services and social connectivity. In addition, these advances place Apple in fiercer competition against Google, which is developing a Google TV; Microsoft, which plans on launching its own consumer-oriented mobile platform, Windows Phone 7; and Facebook, which might take issue with Apple starting a social network, music-centric or not. Trust that those companies are already busy analyzing the following Apple products-and judging how to best respond. – …
Most coin collectors are partial to using coin collecting software and they generally agree that such software can prove to be a valuable tool to them as they go about collecting coins. With so many different types of coin collecting software around, it would be hard to figure out which coin collecting software is the best and most useful under different circumstances.
Singapore shares generally firmer but participation remains low, with interest mainly on companies with specific newsflow, says Dow Jones.
STI +0.8% at 2,942.31 midday, with immediate resistance at 2,948 (Aug 13 high), then 2,969 (Aug 11 peak).
Market breadth narrower at just under 2 gainers for each decliner vs 2.5 for 1 in early trade, with overall volume modest at 976.6 million shares worth $757.6 million. "With the market conditions uncertain right now, we can expect the volatility and directionless-ness to last a while," says Sias Research technical analyst Edmund Seow.
Oceanus Group (579.SG) most active in market, +16.7% at $0.35, as investors hopeful stock could potentially trade up to $0.477, equivalent to NT$11.25 ($0.48), at which company has priced second tranche of its Taiwan Depository Receipts, which start trading Aug 27. Tiger Airways (J7X.SG) also actively traded, off 3.0% at $1.92, as key shareholders trim stakes.
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Amazon released its third-generation Kindle on July 28, and the device’s "experimental features," including a Web browser, hint at its possible future direction. – Even before Amazon.com announced its third-generation Kindle on July 28,
speculation abounded about what new features the online retailer would add to
the device to better compete against the likes of Barnes amp; Noble’s Nook and
the Apple iPad.
On the furthest edge of that speculation, some su…
At Dell’s recent financial day, Michael Dell and his executives talked a good deal about the company’s enterprise strategy, especially Dell’s commercial client business, over the next year. However, the Dell team did not talk at all about the company’s new interest in mobility, as seen in the release of the 5-inch Streak running Android. Dell has also released a number of smartphones in countries such as China and Brazil. It’s too early to tell how Dell’s mobile strategy will help the company, but here’s a look at what is being offered to customers. – …
Singapore shares are lacking firm direction as investors digest good year-to-date gains, while awaiting further clues on the scope of corporate profits recovery from the upcoming earnings season.
The STI stayed flat at 2,934.15 midday having traded in narrow range of 2,922–2,942 during morning session. Support is tipped at 2,900 with resistance at yesterday’s high of 2,947.
The political crisis in Afghanistan that has been marred by possible rigging, come to a point of being pressured by the International community with US Secretary of State Hillary Clinton pushed for a word from the Afghan President Hamid Karzai on further situation on Tuesday.
As a UN-backed panel threw out nearly a third of [...]
In an emotional interview on The Oprah Winfrey Show Monday, former heavyweight boxing champion Mike Tyson tells Oprah that he was enraged over the death of his 4-year-old daughter Exodus last May. The little girl choked in a fatal treadmill accident in her mother’s Arizona mansion, but Tyson says he doesn’t want to know what [...]
British funnyman Ricky Gervais is planning to quit acting to focus on direction.
Last year, Gervais directed ‘Ghost Town’ and the success of the movie has tempted him to wear the director’s cap permanently.
“I have fallen in love with directing now, almost as much as writing,†the Daily Star quoted Gervais as saying.
“If I am going [...]
A team of scientists has found that the stunning metallic green sheen of the “jeweled beetle” is produced by microscopic cells in its exoskeleton.
These cells were almost identical to hi-tech liquid crystals.
According to a report by BBC News, the scientists found that the structures make the beetle appear very intensely green under light [...]
This is an excerpt from my new book, Myths, Illusions and Peace: Finding a New Direction for America in the Middle East, co-authored with Dennis…
An A&E reality show featuring members of the Jackson family has been put on hold.
The series, tentatively titled The Jackson Family, followed former Jackson 5 members Jackie, Tito, Jermaine, Marlon, and Randy as they prepped for a new album and tour, but the death of family superstar Michael Jackson has left the network deciding what [...]
