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Management said that unlike in the past where the month of Sep would be stronger than Aug and Aug would be stronger than Jul, this year, due to weakness in the comm and PC space, there would not be any seasonal strength going into the holiday season. This suggests that besides downside risks to 3Q06 forecasts, 4Q06 forecasts may also be affected. Industry indications are for a downturn in 4Q06 and 1Q07.
thanks again .. All of you are a helpful bunch! Appreciate it much.
this one is downtrending... your decision is the right one... wait it out.
Wanted to pick up some at .86 but hesitated .. Looks like i should wait & see. Thanks!
Hi YenYen,
Perhaps from the TA perspective & the "negative" news or sentiment @ co. reducing its workforce & customers reducing their inventories..... would you be likely to pick up more of the co's stocks or would you prefer to wait & see...... ??? As i've mentioned earlier i would rather adopt a "wait & see" approach......(strictly personal in my view)......
Anyway, there are other counters to watch.... for eg Federal - take a look at the counter & decide for yourself.....
Then, what's stopping it from surging?
Margins improved compared to a year ago period and the prior quarter as it benefitted from strict cost controls. It is taking additional cost reduction actions, including an approximate 460 employee workforce reduction in 3Q06.
Just heard over the TV @ 15 mins ago that the co. is reducing staff & that there is a pause in the company's growth due to cut-back in inventory by its customers...... The CFO will appear on CNBC tomorrow @ Asia Squawk Box.......
Not good news to me - should wait & see what happens tomorrow when the CFO appears on TV.... based on news today the price is not likely to perform well.....
I think that TA says that it's not too promising..... but it's @ 50-50.... coz it's gone down really very low at 0.88cts.......
On the other hand..... it's also at the point where there's a double bottom.... so there may be a rebound if the "market players" decide to buy it at this point...
Over at US..... a no. of tech co. has taken a beating, though some are showing good results.... so it's quite a close call....
If I were you.... I'll wait for the "market action" tomorrow... or maybe a few more days....& see which way the market & TA indicators will move .... It's much safer this way & you've got nothing to lose by holding on to your cash .... BTW a no. of US intitutional brokers/big guns are shifting some of their portfolios to "cash" & are waiting for opportunities to "buy".... Why not follow their foot step ?
A friend working there was laid off this morning(26/7). Not sure how many were affected.
Wonder how this stock will perform tomorrow at SGX after its earning at 8am ....
It finished at 0.88 (down 0.02 cents) today. Its 52week range from 0.84 - 1.42.
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UNITED STATES--(MARKET WIRE)--Jul 6, 2006 -- SINGAPORE -- 7/06/2006 -- STATS ChipPAC Ltd. ("STATS ChipPAC" or the "Company") (NasdaqNM:STTS - News) and (SGX-ST: STATSChP), a leading independent semiconductor test and advanced packaging service provider, today announced it will hold a conference call with investors and analysts on Thursday, July 27, 2006 at 8 a.m. (Singapore time) to discuss results for the Company's second quarter 2006 and business outlook. This will be 8 p.m. in New York on Wednesday, July 26, 2006.
The news release announcing the second quarter 2006 results will be disseminated on July 26, 2006 after the Nasdaq stock market closes