Reuters: Hot Stocks: STOCKS NEWS THAILAND-Thai Airways near 2-week lows

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STOCKS NEWS THAILAND-Thai Airways near 2-week lows May 10th 2012, 07:00 Thu May 10, 2012 3:00am EDT Shares of Thai Airways International Pcl hit their lowest in almost two weeks on Thursday after brokers lowered the full year earnings outlook even though the carrier is expected to return to profit in the first quarter. At the mid session break of 0530 GMT, Thai Airways shares were down 0.9 percent at 26.75 baht ($0.86), falling at one point to 26.25 baht ($0.84), the lowest since April 27. The broader SET index fell 1 percent. Brokers said they expected second quarter earnings to be hit by lack of demand because of the low tourist season, and weigh on the full year figure. "The airline's revenue has recovered at a slow pace while the fuel cost is higher than expected. We have cut net profit forecast for 2012-13 by 26-29 percent," Krungsri Securities said in a report. The airline was projected to report a first quarter net profit of 4.1 billion baht ($131.96 million) after a huge loss in the previous quarter, Maybank Kim Eng Securities said in a report. Eight out of 19 analysts tracking the company have a buy or strong buy rating, six rate it as a hold and five have a sell or strong sell rating. 1324 (0624 GMT) (Reporting by Viparat Jantraprap in Bangkok; Editing by Sanjeev Miglani;viparat.jantraprapaweth@thomsonreuters.com) ******************************************* 12:16 STOCKS NEWS THAILAND: KGI raises Quality Houses target price KGI Securities raised its target price for housing developer Quality Houses Plc QH.BK to 2 baht ($0.06) from 1.8 baht ($0.06), reflecting strong quarterly earnings and its earnings upgrade for the full year. The broker upgraded its rating on the stock to outperform from neutral. Quality Houses rose 2.3 percent to 1.76 baht, taking gains so far this year to nearly 28 percent. "We have an optimistic view on a V-shape recovery in its earning and its presale. Hence, we raised our 2012-13 earnings by 11.3 percent and 10 percent, respectively," the broker said in a report. "There is upside risk to our earnings of 20 percent to 50 percent on the potential gain from the planned asset divestment to a property fund in the third quarter," it said. For the company financial statement, click (nSETh9QlWa) 1200 (0500 GMT) (Reporting by Viparat Jantraprap in Bangkok; Editing by Nick Macfie; viparat.jantraprapaweth@thomsonreuters.com) ********************************************* 11:57 STOCKS NEWS THAILAND: Malee Sampran surges after strong Q1 Shares of Malee Sampran Pcl MALE.BK hit their highest in more than 18 years after the manufacturer of canned fruit said its quarterly net profit increased almost six times to 177 million baht ($5.70 million) due to strong sales. Malee shares were up 13.7 percent at 79 baht, having climbed at one point to 81 baht, their highest since December 1993. About 5.5 million shares were already traded, 1.18 times the average full-day volume over the last 30 sessions. The broader SET index .SETI was down 1.09 percent. For the company statement, click (nSETt9mSka) 1143 (0443 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com; Editing by Chris Gallagher) ($1 = 31.07 baht) ($1 = 31.0700 Thai baht) (Editing by Sanjeev Miglani) Link this Share this Digg this Email Reprints

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