Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-Recovers from previous day's sell-off

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STOCKS NEWS SINGAPORE-Recovers from previous day's sell-off May 8th 2012, 05:53 Tue May 8, 2012 1:53am EDT Singapore shares were higher by midday in line with regional bourses, recouping part of the previous day's sell-off, but analysts flagged market volatility ahead due to persistent euro zone woes. The Straits Times Index was up 0.46 percent at 2,938.37, after closing 2.2 percent lower on Monday. Telecom and cable TV operator StarHub and commodities firm Noble Group were among the biggest blue-chip gainers. "With the European debt crisis still lingering and possibly worsening, global markets are expected to remain volatile," Maybank Kim Eng Research said in a report. Maybank Kim Eng said its top picks included Singapore Press Holdings and ST Engineering, which have proven dividend track record. Rig builders Keppel Corp and Sembcorp Marine were growth stocks with respectable dividend yields, the broker added. A stand-out stock on Tuesday was CWT Ltd, which jumped as much as 6.2 percent after the commodities logistics firm reported a tripling in first-quarter net profit and announced a sale-and-leaseback agreement for a warehouse facility in Singapore. CWT shares were up 5.8 percent at S$1.275 by midday on volume of 1.9 million shares, nearly four times the average full-day volume traded over the past 30 days. 1346 (0546 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ************************************************************ 13:00 STOCKS NEWS SINGAPORE-DBS sees weak Q1 for palm oil firms DBS Vickers said it expects Singapore-listed palm oil firms to report weak first quarter earnings, in line with their Indonesian peers. Palm oil companies in Indonesia were hurt by low yields in January-March, due to the lagged effects of poor weather conditions in the first half of 2010, as well as rising costs and maturing farmland. DBS said investors should take profits in First Resources Ltd, but build positions in Wilmar International Ltd , the world's largest-listed palm oil firm. Palm oil firms are set to report earnings over the next few weeks, with Wilmar announcing its results on Thursday and First Resources on May 15. DBS expects palm oil firm earnings to improve from the second half, however, due to a recovery in palm oil output and demand in the second and third quarters. DBS has upgraded Indofood Agri Resources Ltd IFAR.SI to buy from hold and raised its target price to S$1.65 from S$1.55, citing low price-to-book valuations. 1233 (0433 GMT) (Reporting by Charmian Kok in Singapore; charmian.kok@thomsonreuters.com) ************************************************************ 12:19 STOCKS NEWS SINGAPORE-Sembcorp Marine's margins in focus-Barclays Barclays expects order wins of Sembcorp Marine Ltd to hit a record S$10.9 billion this year and anticipates operating margins to be in focus during the company's first-quarter results. "While we expect a fall in Sembcorp Marine's operating margins to 16 percent in the first quarter versus 20 percent in fourth quarter of 2011, as was the case for Keppel Corp in its first-quarter results, the company remains stand-out in terms of profitability compared to its regional peers," Barclays said. It pegged Sembcorp's January-March net profit at S$165 million, up 9 percent over the previous year, on expectations the company will start recognising revenue from construction and conversion projects it won since late 2010. Sembcorp reports results on Wednesday after close of trading hours. Barclays retained its S$7.0 price target and an overweight rating on the company. Sembcorp's shares were up 1.2 percent at S$4.90 and have gained around 28 percent so far this year, versus a 15 percent rise in Keppel. 1150 (0350 GMT) (Reporting by Leonard How in Singapore; leonard.how@thomsonreuters.com) ************************************************************ 10:20 STOCKS NEWS SINGAPORE-CWT up after results, property deal Shares of CWT Ltd rose as much as 6.2 percent after the commodities logistics firm tripled its first-quarter net profit and announced a sale-and-leaseback agreement for its warehouse facility in Singapore. CWT shares jumped to S$1.28, a one-month high. Some 1.2 million shares were traded, 2.4 times the average full-day volume traded over the past 30 days. CWT shares have gained about 28 percent so far this year. "The profit growth traction for CWT has been beyond all expectations but is still not reflected in the share price performance," Maybank Kim Eng Research said and raised CWT's price target to S$2.01 from S$1.70 and maintaining its buy rating. The company reported net profit of S$26.4 million for January-March, up from S$8.4 million a year ago, driven by its new commodities trading business. For related stories, click link.reuters.com/tyw97s and link.reuters.com/wyw97s 1007 (0207 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ************************************************************ 09:54 STOCKS NEWS SINGAPORE-Singapore Air Q4 profit seen down 45 pct-poll Singapore Airlines Ltd (SIA), the world's second largest carrier valued at $10 billion, is expected to report a 45 percent fall in its fourth quarter earnings, a Reuters survey of seven analysts showed. SIA's earnings have declined in the previous five quarters as weak travel demand, particularly among bankers and executives, and persistently high jet fuel prices hit margins. The Singapore flag carrier is expected to post a net profit of S$93.5 million for January-March, down from S$171 million a year ago. It reports results after trading hours on Wednesday. "Key factor here would be pax yields... (and) on the cost side, we expect unit cost to rise yoy due to higher fuel prices and start-up costs from (new budget carrier) Scoot," brokerage UOB Kay Hian, which forecast a quarterly net profit of S$74.6 million, said in a report this month. SIA's shares have risen by only 4 percent so far this year, underperforming a 11 percent rise in Singapore's benchmark index . Air China is the world's largest carrier with a market value of $12 billion. 0935 (0135 GMT) (Reporting by Harry Suhartono and Leonard How in Singapore; harry.suhartono@thomsonreuters.com) ************************************************************ 09:35 STOCKS NEWS SINGAPORE-OCBC upgrades OSIM to buy OCBC Investment Research upgraded massage chair and health products company OSIM International Ltd to buy from hold and raised its price target to S$1.61 from S$1.35. OCBC expects further earnings traction for OSIM, underpinned by new innovative product launches with different price points and improvement in productivity per store and staff. Given the better-than-expected performance for OSIM's first quarter, OCBC raised its earnings per share forecasts for 2012 fiscal year by 7.5 percent and for 2013 by 4.9 percent. OCBC said OSIM is steadily raising its profile as a luxury specialty retailer. OSIM shares were down 2 percent at S$1.23 and have gained 6.5 percent so far this year, underperforming a 14 percent rise in the FT ST Mid Cap index. link.reuters.com/qyw97s 0918 (0118 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ************************************************************ 08:48 STOCKS NEWS SINGAPORE-Index futures rise 0.3 pct Singapore index futures gained 0.3 percent early on Tuesday, indicating a higher start for the benchmark Straits Times Index. Asian shares and riskier assets recovered on Tuesday from the previous day's plunge as sentiment improved on hopes Spain would use public funds to bolster its struggling banks. But wariness remained over Greece. 0844 (0044 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) Link this Share this Digg this Email Reprints

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