The following companies may have unusual price changes in Singapore trading tomorrow. Stock symbols are in parentheses, and share prices are from the previous close. Singapore’s Straits Times Index fell 0.3% to 3,245.96.
CapitaLand (CAPL SP): Singapore’s biggest developer said the government’s measures to curb property speculation will hurt sentiment in the “near term,” and transactions and home prices may “moderate.” The stock fell 3.4% to $3.71.
Hip hip hooray for Girl Power. Dr. Nat Strand, 31, and Dr. Kat Chang, 35, crossed the finish line on the Season 17 finale of The Amazing Race Sunday night, becoming the first all-female team to win the globe-trotting reality competition. Collecting their final clue from Newlywed Game show host Bob Eubanks, Nat and Kat [...]
Hi-P International (H17.SG) is +4.7% at $0.995 with 1.13 million shares traded.
Today’s rise marks the stock’s first strong showing since its better-than-expected 3Q earnings November 1 ($33 million net profit); downward trend since then likely as those results had been priced in after the stock’s 10% rise from September 22 on bullish FY10 guidance; but perhaps with the festive shopping season in full swing, investors are getting a reminder of Hi-P’s earnings potential, as a beneficiary of booming smartphone and tablet sales.
Rocker Billy Joel is spending the holiday weekend recuperating in his Long Island home after undergoing surgery on both hips earlier this month. Joel spokeswoman Claire Mercuri tell PEOPLE that the 61-year-old long Islander had both hips replaced last week to correct a congenital condition. In news that will be Rock and Roll Hall of [...]
Gerald Lim Thien Su has been appointed independent director/audit committee member wef Nov 1
Work experience: CEO, Aon Singapore Pte Ltd; CEO, Aon Taiwan Ltd
DBS Vickers Securities in a Nov 2 research report says: “Hi-P posted record net quarterly profit of $33 million (+208% y-o-y). This set of results beat our $30 million forecast despite as much as $10 million one-off items and lower than expected sales (+81% y-o-y) of $286 million vs our forecast of $363 million.
Singapore shares may open flat on Tuesday, with Wall Street offering little direction overnight as investors moved to the sidelines ahead of this week’s US elections and Federal Reserve meeting. Singapore’s benchmark Straits Times Index <.FTSTI> rose 1.6% on Monday to 3,192.18 points. Here are some stocks and factors to watch, say Thomson Reuters and Bloomberg:
Hi-P International (H17.SG) +2.1% at $0.995 on above-average volume as launch of new tablet computer PlayBook by Research In Motion fuels hopes of continued firm demand for contract manufacturer’s services, says Dow Jones.
PlayBook available for sale in US early next year. While Hi-P not involved in PlayBook production, rising popularity of tablet computers like Apple’s iPad, potentially RIM’s PlayBook, bodes well for its revenue outlook. Company derives bulk of its revenue from both RIM, Apple.
Hi-P shares were traded at $1.01 at 10:30 a.m., with over 5.6 million changing hands.
Contract manufacturer’s revised guidance for higher FY10 revenue, profit sitting well with investors, with volume strongest in 6 weeks.
Better outlook based on improved productivity, cost controls.
“Record earnings look within reach because key customers’ growth potential is currently suppressed by the lack of part supplies whilst global demand is still very strong,” says DBS Vickers, which has Buy call, lifts target to $1.26 from $0.94 after increasing FY10-11 earnings estimates by 11%-10%.
Hi-P counts Research In Motion, Apple as key customers. Orderbook quotes suggest minimal upside beyond early high of $1.04.
Ailing actress Zsa Zsa Gabor has amazed medics in Los Angeles after showing signs of recovery from a broken hip and a string of health problems. The 93-year-old returned home from hospital on Monday following surgery at the weekend to remove two blood clots. The legendary actress sparked fears she was on her deathbed after [...]
DMG upgrades Hi-P (H17.SG) to Buy from Neutral, lifts target price to $0.97 from $0.595 after increasing FY10-11 earnings forecasts by 19.5%-25.0% to assume stronger business, says Dow Jones.
DMG notes contract electronics manufacturer counts Research In Motion, Apple as key clients. Says 2Q10 earnings of $12.4 million, vs $14.2 million loss in 1Q10, above market expectations.
Mainboard-listed Hi-P International, the integrated electro-mechanics manufacturing solutions provider for wireless communications and consumer electronics, has bounced back from a net loss of $14.2 million dollars in 1Q2010 and posted a net profit of $12.4 million for the 3 months ended 30 June 2010 (2Q2010).
Revenue for 2Q2010 increased 23.6% quarter-on-quarter to $181.5 million on the back of better demand from customers. With better capacity utilisation and cost control measures, 2Q2010 gross profit surged 336.9% QOQ to $28.4 million.
Hi-P International (H17.SG) +5.2% at 6-week high $0.605, extending yesterday’s 12.7% gain, with stock making up lost ground after underperforming Singapore tech peers in past months, says Dow Jones.
Interest driven by plastic parts maker’s recent improved 2Q10 revenue, profit guidance on back of increased demand from customers, better capacity utilisation and cost controls. Shares down 20.7% year to date vs FTSE ST Technology Index down 4.9% over same period due to spate of earnings disappointments following end of several key projects.
DBS Vickers has upgraded Hi-P International (H17.SG) to Buy from Fully Valued, lifts target price to $0.72 from $0.49, based on 9x FY11 P/E, after increasing FY10-11 earnings forecasts by 9%-6%, according to Dow Jones.
Changes reflect company’s improved 2Q10 revenue, profit guidance. “Hi-P is finally seeing strong momentum of new launches for two key customers, Research In Motion and Apple, whose products such as smartphones and tablet computers are among the most coveted consumer gadgets today,” says DBS Vickers.
Hi-P International (H17.SG) gaps up at opening, last +11.8% at $0.57 on above-average volume, as investors welcome contract electronics manufacturer’s improved 2Q10 guidance, according to Dow Jones.
The following companies may have unusual price changes in trading today. Share prices are from the previous close. Singapore’s Straits Times Index dropped 0.4% to 2,833.40. Asian stocks are set to climb on Monday after China said it would allow more yuan flexibility, a move seen as a vote of confidence in the global recovery and a signal to buy riskier assets.
Shipping companies: The Baltic Dry Index, which measures the cost of transporting commodities, dropped 3.2% in London on June 18, taking it 16-day loss to 36%.
DMG has cut Hi-P International (H17.SG) target price to 59.5 cents from 66 cents on view stock deserves to trade down to industry average P/E of 11.3x vs 12.2x currently due to weak 1Q10 results.
Hi-P International (H17.SG) down 4.5% at 4-week low of 64 cents as contract electronics manufacturer’s 1Q10 loss, says Dow Jones, with warning of lower FY10 profit hitting sentiment.
