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ya...up 1% plus despite NASDAQ tumbled
Despite the DOW and Nasdaq bleeding, Chartered still managed to stay positive. closing at $8.28 with good volume. this translate to 1.29 on SGX.
If NASDAQ and DOW bleeding too much tonite, then most likely it will retreat to below $1.25 tomorrow
CSM parent is dropping by the minute. contra players, be very careful.
based on grapevine talk from Chartered staff that they are expecting slightly higher bonus this year, i am quite positive about this counter for the short term (3 to 6mths)
wheee....
ace6868, think might be best to sell before friday. my estimate's 1.33-1.35 (prob wed), but the institutional sells have been very heavy; likely to depress it when the retailers rush to buy.
CSM chionging in Nasdaq now. It's up 4.5% to 8.50 with good volume .... At this price, its about 1.32 in SGX. Let 's see how it performs rest of the nite.
But it always dip after its Q reporting ah!
its prices seems to be trading up on the nasdaq today. might be able to hit 1.30 tmrw if its performance on nasdaq is good.
I still think only good for short term with small profit unless you doing bulk trading, otherwise a decent profit with 25 to 30 lots should be achieveable.
As no positive news, tomorrow could be sell down again, can consider buy on weakness
interesting to note that although, i see a lot of peaks and toughs, it has a gentle uptrend. i also see a symmetrical triangle. possible breakout anytime soon. if u manages to hold 1.25, this counter might be in for something good
however, bollinger bands still looks wide.
Buy if you can hold for at least one year...last year 2006 is the year of property and banking, this year 2007 is the year of technology stock...when the BIG ELEPHANT "Microsoft" moves after 5 years with the OS Vista, the technology soil will shake...forsee this stock will move beyond $2 this year...not recommend for contra now before results out as short term (1-2 weeks timeframe) is still high unless you like to gamble..highly recommend for mid (1-6 months) to long term (1-2 years) buy...resistance at $1.28, $1.43...support at $1.24, $1.16
as mention before, some big boy is realli waiting for the closing bell to load up on chartered. 1,188 lots deal last min at 1.27.
i think someone might know something that we dun leh
i think someone might know something that we dun leh
UBS just upgraded Chartered to Buy....More coming.....
Go... Go... Go..., Giddy up, Giddy up......
TAIPEI/SINGAPORE, Jan 22 (Reuters) - TSMC (2330.TW: Quote, Profile , Research), UMC (2303.TW: Quote, Profile , Research) and Chartered Semiconductor (CSMF.SI: Quote, Profile , Research), the world's three biggest contract chip makers, are likely to post their smallest quarterly earnings in a year, hit by an inventory overhang.
But the outlook is set to pick up in the second quarter of 2007 after a seasonally slow first quarter as clients are expected to start placing new chip orders after their stockpiles run down.
A new crop of consumer devices from sleek mobile phones and game consoles to high-definition televisions will require chip foundries to develop and produce cutting-edge chips with advanced technology.
"In general, foundry makers will suffer from slow demand and lower ASP (average selling prices) in the first quarter," said BNP Paribas semiconductor analyst Eric Chen. "But we believe that fundamentals will rebound from the second quarter."
Taiwan Semiconductor Manufacturing Co. Ltd. (TSMC) (TSM.N: Quote, Profile , Research) is likely to post a net profit of T$26.34 billion ($803 million) for the fourth quarter, its smallest profit in five quarters, according to forecasts from 12 analysts surveyed by Reuters Estimates.
This is down by about a fifth from both a year earlier and the previous quarter.
Rival United Microelectronics Corp. (UMC) (UMC.N: Quote, Profile , Research) is expected to report a T$5.04 billion net profit in the quarter, up by two-thirds from T$3.04 billion a year ago, Reuters Estimates showed.
But that would be the lowest profit in four quarters for UMC, which booked T$8.59 billion in the third quarter.
For the whole 2007, TSMC will see its earnings rise by a slim 1.6 percent to T$127.2 billion, Reuters Estimates showed, cooling from last year's 34 percent jump, driven by hot demand in the first half of 2006.
Analysts say UMC's 2007 net profits will fall by 31 percent to T$21.58 billion from 2006, when it reaped large gains from stock investments in some of its affiliates, such as microchip designer Mediatek Inc. (2454.TW: Quote, Profile , Research).
BNP's Chen said TSMC's first-quarter sales could fall by 9-10 percent from the previous quarter and UMC 9 percent.
Taking around two-thirds of global market share combined, TSMC and UMC are in a better position than their smaller rivals to win contracts from customers, such as top mobile phone chip maker Texas Instruments Inc. (TXN.N: Quote, Profile , Research).
They are also less vulnerable to cyclical downturns, which typically hurt chip prices and squeeze profit margins.
As a foreign fund darling, TSMC shares have risen 33 percent since a 2006 trough in late July, outpacing UMC's 13 percent gain. Taiwan's main TAIEX share index <.TWII> gained 26 percent during the same period.
Smaller Chartered Semiconductor Manufacturing Ltd. (CHRT.O: Quote, Profile , Research), is expected to post a net profit of US$6.24 million in the fourth quarter, its smallest profit in four quarters, compared with $24.1 million a year ago, Reuters Estimates showed.
That would also be lower than $24.4 million in the July-September quarter as Chartered was hit by weaker demand for video game consoles, MP3 players and wireless network equipment.
"As a second-source foundry for multiple customers and exposure to some of the smaller customers, Chartered is also likely to be hit with inventory digestion later than its leading peers such as TSMC," Morgan Stanley analyst Sunil Gupta said.
China's Semiconductor Manufacturing International Corp. (SMIC) (0981.HK: Quote, Profile , Research), the world's No.4 foundry by revenue, is set to release its quarterly earnings on Jan. 31.
Expect Chartered to be re-rated soon. Just watch !
giantlow, choose contra plays wisely... if you wanna contra, don't do it on csm. the upside's not worth the risk.
pick sgx, allgreen or capitaland instead. Just make sure they didn't break their upper bollinger band yet--i can't do charting at wk so can't give info here.
I will stay away from Chartered for now.... getting too unpredictable.
Possible contra play???
Yup... I think the peak-to-valley cycles for CSM are getting shorter and shorter. Getting scary...