The Star Online: Business
The Star Online: Business |
- Genting Bhd falls after weaker earnings from Genting Singapore
- Support Line
- Microsoft shares fall after departure of key executive
| Genting Bhd falls after weaker earnings from Genting Singapore Posted: 13 Nov 2012 06:33 PM PST KUALA LUMPUR: Genting Bhd's share price fell in active trade on Wednesday as analysts reduced their forecasts after Genting Singapore (GENS) posted weaker earnings. At 10.15am, Genting fell 18 sen to RM9.31. There were 652,700 shares done. The FBM KLCI fell 1.49 points to 1,636.10. There were 159.15 million shares traded valued at RM167.18mil. There were 150 gainers, 153 losers and 229 counters unchanged. CIMB Equities Research had reduced its target price for Genting to RM10.90 from RM11.60. GENS makes up just over 40% of Genting's net profit, it said. The research house said GenS reported poor Q3, 2012 numbers that were well below expectations. It said Resorts World Sentosa (RWS) is adjusting to find a steady state of growth in the face of tough regulation. However, CIMB Research said Genting's diversified earnings base remains the best proxy for the group. "We cut our EPS forecasts by 3%-9% following our earnings revisions for GENS. Our RNAV-based target price is lowered to RM10.90 following the revision in our target price for GENS, which makes up 45% of Genting's RNAV. M&A and restructuring opportunities remain key catalysts for Genting. Maintain Outperform," it said. |
| Posted: 13 Nov 2012 05:36 PM PST Wednesday November 14, 2012BY K.M. Lee AXIATA Group pulled back from an all-time high of RM6.83 on Oct 5 to a low of RM5.80 on Nov 7 before stabilising. Technically, the uptick of the stochastic from the oversold territory suggests more rebounds but the upside potential is likely to be capped at the RM6.27-RM6.37 band. If the recent ebb is violated, look for the RM5.63 level as the next downside support. METRONIC Global recovered to a 4-month high of 13.5 sen during intra-day session. With most of the short-term indicators painting a positive landscape, there may be more upside in the pipeline. Initial resistance is seen at the 14.5-sen level, followed by the 19-sen hurdle. Current support is resting on the 10-sen mark. SUPERMAX Corp shares were trapped within a narrow range on consolidation since late September. Apparently, indicators are mixed, suggesting extended sideways pattern until a clearer picture emerges. A slip below the RM1.93 line will have a negative impact, but a push above the RM2.13 barrier may propel prices to the RM2.25 level. |
| Microsoft shares fall after departure of key executive Posted: 13 Nov 2012 05:32 PM PST SAN FRANCISCO: Shares of Microsoft Corp slid on Tuesday after the surprise departure of a key executive, who analysts said marks the loss of the driving force behind the company's biggest product. The shares were down 2.8 percent in afternoon at $27.21. Microsoft on Monday night announced the departure of Steve Sinofsky, a 23-year veteran of the company and head of its flagship Windows unit, just two weeks after launching the Windows 8 operating system. Analysts fear that Chief Executive Steve Ballmer is driving out talent just as the company needs it most. "Sinofsky may have ruled the kingdom with an iron fist, but he performed amazingly well in rescuing Windows following Vista," Wells Fargo analysts said in a research note on Tuesday, referring to Microsoft's previous operating system. "While we think Windows 8 and Surface have promise, there is still a ton of work ahead to catch iOS and Android." Apple Ballmer has replaced the heads of Microsoft's five main operating units in the past four years. Colin Gillis, an analyst at BGC Financial, said that while he generally has applauded bringing in new blood, "in this case I don't applaud it. "This is a negative. If I was the CEO, I would have kept him," he added. Ballmer may have been unhappy with Sinofsky's ability to work with other business units, or the pace of progress under him, analysts said. Sinofsky's abrasive management style may also have contributed to his departure, analysts said. Microsoft on Monday named two executives who are relatively unknown outside of technology circles to assume Sinofsky's responsibilities, something that analysts said could also be dragging on the stock. Julie Larson-Green will head the Windows hardware and software division, while Tami Reller will remain chief financial officer of the Windows unit and assume responsibility for the business of Windows. In a statement issued Monday night, Ballmer said it was "imperative that we continue to drive alignment across all Microsoft teams, and have more integrated and rapid development cycles for our offerings." - Reuters |
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