Wednesday, August 13, 2008

Market Daily -- 13th Aug 08

1. WALL STREET: Stocks fell on worries over financial sector companies, Dow down 1.2%, Nasdaq off 0.4%

2. Datacraft 3Q Net Profit US$9M Vs US$7.3M

3. Property developer UOL Group Ltd. (U14.SG) late Tuesday reported a 49% decline in its net profit on lower fair value gains from investment properties

4. Yangzijiang May Fall; 2Q08 Margins Sharply Dn Y/Y

5. ST Engineering Likely To Fall On FY08 Guidance

6. ST Engineering Target Cut To S$3.00 From S$4.20 By JPMorgan

7. SingTel Target Cut To S$4.60 From S$4.65 By UBS; Keeps Buy

8. Singapore Telecom Target Cut To S$3.85 From S$4.29 By OCBC ; Keeps Buy

9. Singapore's Changi Airports International said late Tuesday that its consortium has been shortlisted in a bid to develop and operate St. Petersburg's Pulkovo International Airport

10. Phillip Securities cuts target price for Starhub (CC3.SG) to S$2.99 from S$3.30

11. Morgan Stanley trims SingTel target price to S$3.55 from S$3.60 following fiscal 1Q09 results; maintains Equal-weight rating

12. OCBC Investment Research downgrades ST Engineering to Hold from Buy, cuts target price to S$2.95 from S$3.75

13. Credit Suisse downgrades Hong Leong Finance to Underperform from Neutral; cuts target price to S$3.10 from S$4.00

14. OCBC Investment Research cuts Golden Agri target to S$0.71 from S$1.34 (12.5x); maintains Buy rating

15. Daiwa keeps Lorenzo International at Outperform but cuts target price to S$0.305 from S$0.43

16. Credit Suisse cuts Hong Leong Asia target price to S$2.30 from S$2.80 following 2Q08 results; maintains Outperform call

17. SingTel Target Cut To S$3.80 Vs S$4.05 By CIMB; Keeps Neutral

18. Star Cruises down 6.1% at 52-week low of US$0.155, weighed down by 1H08 net loss of US$49.4 million

19. DBS Vickers downgrades Asia Environment to Hold from Buy, cuts target price to S$0.42 from S$0.64

20. UOL +0.3% Post 2Q; Has Defensive Qualities - OCBC

21. Yangzijiang Target Cut To S$0.75 From S$1.45 By DBS Vickers

22. ST Engineering Target Cut To S$3.80 From S$4.25 By Cazenove

23. ST Eng Down 1.1%; FX Rate May Hurt Earnings - UBS

24. Yangzijiang +0.8%; No Improvement In Fundamentals

25. People's Food +4.0%; Pork Prices Easing - CIMB

26. Keppel Corp. has received a US$560 million contract to build a deepwater rig, ordered by Ensco International Inc. (ESV), will be delivered in the second half of 2012

27. Nomura cuts target price for ST Engineering (S63.SG) to S$3.06 from S$3.31

28. Singapore Palm Plays Rebound; Oversold - Analyst

29. SingTel Target Cut To S$3.84 From S$4.43 By Daiwa

30. UOB Kay-Hian cuts STX Pan Ocean target price to S$2.30 from S$2.50, maintains Hold

31. OCBC Investment Research cuts target price for SingTel to S$3.85 from S$4.29

32. Singapore shipbuilders finally end near-2-week losing streak; Cosco Corp. +1.3% at S$2.30, Yangzijiang +2.4% at S$0.645

33. DBS Vickers cuts Boustead Singapore target price to S$2.73 from S$2.85, maintains Buy rating

34. Parkway Holdings 2Q Net Profit S$27.3M Vs S$25.4M