Thursday, August 7, 2008

Market Daily -- 7th Aug 08

1. Neptune Orient Lines 2Q Net $76M; Poll $105M

2. Straits Asia Resources 2Q Net $36.3M Vs $7.1M

3. StarHub may slip after 2Q08 results fall short of market hopes

4. CLSA initiates Singapore Airlines at Buy, sets S$19.00 target price

5. Chemoil Energy 2Q Net US$21.9M; Booked US$122M Hedging Losses

6. Cosco may fall below 52-week trough of S$2.65 on uncertainty over sudden leadership change

7. Macquarie downgrades Hongkong Land to Underperform from Outperform, cuts target price to US$3.50 from US$4.70

8. OCBC Investment Research downgrades Venture Corp. to Hold from Buy on limited upside to reduced target price of S$11.21 vs S$12.84 previous

9. Macquarie cuts Keppel Corp. target price to S$13.00 from S$13.90; maintains Outperform rating.

10. DBS Vickers downgrades Starhub to Fully Valued from Hold. Cuts target price to S$2.60 from S$3.10

11. Synear Food Off 1.1%; 1H Disappoints. Deutsche Bank says result came in below consensus, broker's own forecast. Reiterates Sell rating with S$0.35 target price

12. Hyflux +2.4%; 2Q Net Profit Beat Forecasts - CS

13. Cosco down 7.0% at 17-month low of S$2.51, extending 11.2% fall since start of this week, as board's surprise move to retire Ji Hai Sheng hurts sentiment further

14. SembCorp Ind Target Cut To S$5.50 From S$5.90 By JPMorgan

15. StarHub Target Cut To S$3.05 From S$3.20 By Citi; Keeps Buy

16. StarHub Target Cut To S$3.00 Vs S$3.20 by CIMB;Keeps Neutral

17. Singapore shipping stocks sharply lower, weighed by profit warning, weaker-than-expected results, surprise key management changes

18. NOL CFO: Financing Not An Issue For Possible Hapag-Lloyd Buy

19. DBS 2Q Net Profit Likely +5.5%, OCBC Dn 9.8% -Poll

20. CIMB upgrades Hyflux to Outperform from Neutral on improved upside to higher target price of S$3.38 vs S$3.16

21. Sembcorp Ind Off 1.8%; Weak Utilities Weighs

22. Singapore Yards Better Bet Vs China Peers - DBSV

23. Merrill Lynch adds Singapore Petroleum, CNOOC to Asia-Pacific most-preferred oil stocks; keeps Cairn India, pegs all three at Buy

24. Citigroup lowers Sembcorp Industries target price to S$5.35 from S$5.50

25. DBS Vickers downgrades China Sky Chemical Fibre to Hold from Buy. Cuts target price to S$0.96 from S$1.70

26. OCBC 2Q Net Profit S$425M Vs S$532M; Expected S$480M

27. DBS Group 2Q Net S$652M Vs S$560M; Expected S$591M

28. UOB Target Cut To S$21.25 From S$23.20 By Daiwa; Keeps Hold

29. CIMB cuts Creative Technology target price to S$4.55 to S$5.31, maintains Underperform on expectations of FY09 losses

30. CIMB cuts Venture Corp. target price to S$13.42 from S$16.35, maintains Outperform on its steady growth, strong free cash flow, decent yields

31. DBS Vickers cuts Venture Corp. target price to S$11.86 from S$12.81, maintains Hold rating following recent 2Q08 results

32. CIMB cuts China Sky target price to S$2.25 from S$2.62, maintains Outperform rating

33. Singapore Exchange Ltd. Net profit for the three months to June 30 came in at S$90.4 million compared with S$176.3 million in the year ago period.