Reuters: Hot Stocks: STOCKS NEWS THAILAND-Post Publishing surges on stake sale report

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STOCKS NEWS THAILAND-Post Publishing surges on stake sale report Jul 23rd 2012, 09:04 Mon Jul 23, 2012 5:04am EDT Shares in publisher Post Publishing Pcl surged as much 29 percent after a media report that its largest shareholder had appointed a financial adviser to sell its stake. Post Publishing shares were up 28 percent at 6.4 baht, having hit 6.45 baht. The broader stock market was down 1.8 percent. The report was not confirmed by the company and its major shareholder, unlisted, GMM Media. "The company (GMM) still holds its shares in Post Publishing and has not yet entered into any engagement with any financial advisor for the aforementioned matter," said GMM Grammy Pcl which owns GMM Media. For statement click GMM Media owns the largest 23.6 percent stake in the company. South China Morning Post Publishers Ltd owns 20.28 percent and Suthikiati Chirathivat holds 13.49 percent. 1529 (0829 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapweth@thomsonreuters.com) ************************************************************ 14:15 STOCKS NEWS THAILAND: Total Access Communication up; better H2 seen Shares in Total Access Communication Pcl DTAC.BK climbed as much as 1.6 percent, regaining some lost ground from a drop of 6.4 percent in past three sessions, amid expectations of a good earnings recovery in the second half. At the midsession break of 0530 GMT, Total Access shares were up 0.96 percent at 79.50 baht. The stock's recent weakness had been partly due to concerns of weak second-quarter results. The broader stock market .SETI was down 1.4 percent. Kiatnakin Securities said it forecast a 6 percent year-on-year decline in April-June quarter net profit to 2.8 billion baht. It expected a good earnings growth for the second half. DTAC is expected to release results after the market close. "DTAC should see an earnings recovery in the second half due to lower network related expenses ... There could also be some benefit from new promotions on boosting voice revenue," the broker said in a report. The broker rated the stock at 'buy', with a target price of 98 baht. 1409 (0709 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ************************************************************ 12:16 STOCKS NEWS THAILAND: Soybean meal, pork prices weigh on CP Foods Shares in Charoen Pokphand Foods Pcl CPF.BK hit their lowest in almost seven months as rising prices of soybean meal raw material and weaker selling prices of pork weighed on the company's earnings. CP Foods shares were down 5 percent at 33.25 baht, the lowest since January 4, with 37.9 million shares having changed hands, 1.13 times the average full-day volume in the last 30 sessions. "There are concerns about higher prices of soybean meal which will adversely affect the cost of animal feed production," said an analyst at Asia Plus Securities. The analyst said weaker domestic pork prices are expected to affect profit for the third quarter. 1155 (0455 GMT) (Reporting by Wirat Buranakanokthanasan in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ************************************************************ 10:58 STOCKS NEWS THAILAND: Big C Supercenter falls to 7-week lows Shares in Big C Supercenter Pcl BIGC.BK fell to their lowest in almost seven weeks after the supermarkets group reported a net profit for April-June quarter, which analysts said fell short of their forecasts. Big C shares were down 3.3 percent at 208 baht ($6.56), having hit 207 baht earlier, the lowest since June 6. The broader stock market .SETI was down 1.38 percent. Big C posted a quarterly net profit of 1.4 billion baht, up 27 percent year-on-year but down 22 percent quarter-on-quarter. For the company statement, click (Full Story) "BIGC announced a disappointing second quarter net profit," said broker Kasikorn Securities. "BigC reported second quarter gross margin of 21.5 percent, down 105 basis points year on year, despite continued sales growth. We believe aggressive competition in the hypermarket space put overall gross margin under pressure." It rated the stock 'underperform', with target price of 130 baht, adding that "We believe the current high PER multiple is not justified by the expensive PE multiple of 26 times, and maintain our underperform rating on the stock." 1050 (0350 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ($1 = 31.685 baht) Link this Share this Digg this Email Reprints

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