Reuters: Hot Stocks: STOCKS NEWS SINGAPORE-Tiger Airways down after Q4 loss

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

STOCKS NEWS SINGAPORE-Tiger Airways down after Q4 loss May 21st 2012, 01:39 Sun May 20, 2012 9:39pm EDT Shares of Tiger Airways Holdings Ltd fell nearly 4 percent on Monday after the budget carrier swung to a fourth-quarter net loss from a net profit a year earlier and warned of a challenging business environment. Tiger shares dipped as much as 3.9 percent to S$0.615, underperforming the FT ST Small Cap Index which lost 0.1 percent. Tiger stock has dropped around 3 percent so far this year. Tiger posted a net loss of S$16.4 million ($12.9 million) for the three months ended March, compared to a net profit of S$1.4 million a year ago, dragged by the grounding of its aircraft and flying restrictions in Australia as well as high fuel costs. "The group continues to face a challenging business environment and remains exposed to high and volatile fuel prices," the carrier said in a statement. UOB Kay Hian lowered its price target on the stock to S$0.51 from S$0.64 and maintained its sell rating. It said operating losses worsened sequentially for Tiger's Singapore operations due to low yields and for Tiger's Australia operations because of low utilisation. The broker cut its net profit forecast for Tiger's 2013 fiscal year by S$9 million to S$30 million. It said major risks include continued losses in Australia, further provisions for doubtful debts and its status as the guarantor on Mandala Airlines' leases. 0928 (0128 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) *********************************************************** 08:41 STOCKS NEWS SINGAPORE-Index futures rise 0.3 pct Singapore index futures rose 0.3 percent early on Monday, indicating a higher start for the benchmark Straits Times Index . Asian markets remained cautious on Monday despite world leaders calling for Greece to stay in the euro zone and for Europe to balance austerity with growth, with investors unwilling to take risks before Greek elections next month. 0837 (0037 GMT) (Reporting by Eveline Danubrata in Singapore; eveline.danubrata@thomsonreuters.com) ($1 = 1.2735 Singapore dollars) Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions