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Last nite, AMD was down a huge 6%, but recovered to close down 1.12% ... DELL was also down huge 8%, but recovered to close down 2.8%. Tech stock is strong now.
CSM in Nadasq closed at price 7.81 (down 0.6%) but something interesting happened at 10.20am (ET), an institution snapped up 100k shares at one go. See here: http://www.marketwatch.com/tools/quotes/intchart.asp?symb=CHRT&sid=159499&freq=9&time=1dy&siteid=mktw
I was watching its volume at lows of 20k plus when it suddenly jumped up 120 plus. Someone is starting to buy in ..
Btw, Nostradamus ........ did you went in last week?
Merrill Lynch's target price for CSM now 1.45 ....?!
Just last Thursday, CSM closed at 1.03. One week later today, it closed at 1.23. Super speculative, but spectacular stock! Shiok!
ML has upgraded CSM to a buy with a price target of $1.45. Here are the reasons:
- ML's global quarterly foundry to fabless differential for 3Q06 now suggests that companies are undergoing wafers relative to sell through which should limit downside risk to earnings in 4Q06.
- Global fabless inventories are at its previous inventory cycle peak levels now, implying limited downside risks.
- Order momentum indicator suggests that broad order push outs have diminished.
- Valuations have fallen to attractive levels versus the upcoming seasonal up tick.
- AMD's market share gains vs Intel should bode well for CSM.
Looks like semicon industry looking up now ....
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Sector Snap: Semiconductors Up
August 17, 2006 02:53 PM ET
NEW YORK (AP) - Chip stocks jumped in Wednesday afternoon trading as an analyst published a bullish note on the sector, and chip maker Advanced Micro Devices Inc. in particular got a dramatic boost on positive expectations for its deal to sell chips to Dell Inc.
Credit Suisse analyst Michael Masdea lifted his rating on the semiconductor industry to "Overweight" from "Marketweight" and suggested the entire industry could benefit from "less severe cyclical swings," adding that any cyclical downturn will be "muted" due to stable growth with higher profitability.
The Philadelphia Semiconductor Sector Index was up about half a point at 449.23, with 12 of 19 component stocks showing gains.
Leading the sector, was chip maker AMD, which Citigroup analyst Glen Yeung upgraded. Yeung lifted his rating on AMD to "Buy" from "Hold," partly based on expectations that the Sunnyvale, Calif. company will reap the benefits of its deal with computer maker Dell.
"Our buy rating reflects the improving near-term PC environment, anticipated benefits from a strong ramp with new customer Dell, and the dramatic pullback in the shares that drive a more compelling valuation," Yeung wrote in a note to clients.
Yeung raised his target price to $27.50 from $25, along with higher earnings estimates for coming quarters and the full year.
In May, AMD finally sealed a widely anticipated deal to sell its chips to Dell, to the detriment of rival chip maker Intel Corp. At least one analyst speculated Dell could roll out an AMD-based desktop computer as early as September.
AMD shares lead the pack with a 7 percent boost. The stock, which has traded between $16.90 and $42.70 over the last year, rose $1.44, or 6.4 percent, to $24.01 in afternoon trading on the New York Stock Exchange. Intel shares fell 9 cents to $18.52 on the Nasdaq.
Lets see how CSM fare today ....
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Sector Wrap: Chip Stocks Gain
August 15, 2006 04:28 PM ET
NEW YORK (AP) - Chip stocks closed higher on Tuesday, following Advanced Micro Devices Inc.'s release of new versions of its business computer server chips and a second day of broader market gains.
Following AMD's announcement, a slew of tech companies -- from IBM and Sun Microsystems to Linux Networx Inc. -- said they will begin using the next-generation Opteron processors.
AMD's shares rose $1, or 5 percent, to close at $20.87 on the New York Stock Exchange. Meanwhile, rival Intel Corp. edged up just 26 cents to end at $18.13 on the NYSE, amid wider market gains spurred by the Labor Department's report showing an unexpected drop in core wholesale prices.
The pause in investors' inflation worries helped the tech-heavy Nasdaq composite index rise 45.97, or 2.2 percent, to close at 2,115.01. The Philadelphia Semiconductor Sector Index, which includes Intel, Texas Instruments Inc. and other chip companies, jumped 15.26, or 3.7 percent, to end at 425.17.
Texas Instruments' shares rose $1.14, or 3.7 percent, to close at $32.04 on the NYSE. Broadcom Corp.'s stock jumped $1.80, or 6.9 percent, to finish at $27.91 on the Nasdaq, though still closer to the lower end of its 52-week range of $21.98 and $50.
According to a story from Dow Jones Newswires, a judge for the U.S. International Trade Commission extended a pending patent dispute case between Broadcom and Qualcomm Inc. by 50 days due to its complexity. Broadcom makes communications chips for cell phones, set top boxes, networking and a wide range of other uses.
Shares of Qualcomm, which licenses a technology used in wireless communications called code-division multiple access, rose $1.86, or 5.5 percent, to close at $35.45 on the Nasdaq. Both companies have suits filed against each other.
CSM closed up 4.7% in Nasdaq today on moderate volume .... Hope its perfomance in SGX today can match that.
If my calaculation is spot on, CSM should finish between 1.21 - 1.24 today.
Oops ... Sorry for the big font below ... dun wan kanna whack by you guys for it. :P
By the way, CSM trading in Nasdaq is up 1.5% with good volume now. Someone is buying despite CSM down 1 cent in SGX today. Normally, its US stock follows its SGX's lead. But not today ...
Wow! DELL chairman stopover in Singapore after his Aussie biz trip? Cos this piece of news below from S'pore but released in New York EST zone (S'pore time: 18.59hrs). Wonder if its a routine stopover or paying a trip to Woodlands? (speculating only if you catch my joke here :P)
Anyway, DELL reporting its earning this Thirsday (17th Aug). Being the biggest PC maker in the world, its results will swing the tech market sharply .... Its previous results swung the market down badly after it announced a weak PC demand. That led to a tech sell sell down till now. (Re-read my 'Hated Tech Gets Cheap' below).
By the way, DELL is trading up GREEN 3% in Nasday now - despite the 4m laptop computer recall today due to faulty battery. I am just speculating here before the analysts do - again. Trade with care ya ... :)
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Dell Chairman: Laptop Battery Recall Won't Hurt Earnings
August 15, 2006: 6:59 a.m. EST
SINGAPORE -(Dow Jones)-
"We expect the recall to have no material impact on our financials. It will be a nonmaterial value," Dell founder and Chairman
Dell's comments follow the company's announcement Monday it will recall 4.1 million laptop-computer batteries that can overheat and pose a fire hazard.
The U.S. Consumer Product Safety Commission said the recall is the largest computer-related recall in the agency's history.
Why republished again the next day ... Maybe its hinting something? Jim Cramer is a guy to listen to in US.
Hated Tech Gets Cheap
By Jim Cramer
RealMoney.com Columnist
8/11/2006 7:35 AM EDT
This column was originally published on RealMoney on Aug. 10 at 11:04 a.m. EDT. It's being republished as a bonus for TheStreet.com readers.
Tech's hated. But something's happened. It is no longer expensive. I see a lot of companies trading at one times their growth rates. That's a strange development, but pretty much every one hit up is now actually cheap.
Of course, cheap has never mattered with tech. Nobody likes cheap in tech because it has no momentum and the only reason to buy tech is momentum.
Still, you can't run from a group when this happens. You have to at least think about buying something if not actually making a buy, with the expectation it will get cheaper but that eventually you will be rewarded.
Nobody talks about tech being cheap. Everyone talks about how the Nasdaq 100 Unit Trust (QQQQ - commentary - Cramer's Take) is breaking down, and we know from Helene Meisler's work that's pretty much a given. You might want to wait for that breakdown -- makes sense -- but be aware that when tech gets cheap, you are usually just a couple of quarters away from an explosion upward.
Volatility is good. You can trade within a large price range with a short timeframe. Or would you rather trade a stock that moves slowly? So boring! Give me volatility any time.
Yup, Singaporegal .... CSM is so speculative that TA can't determine its value anytime. This is a very unpredictable stock with crucial timing involved. Trade with care ya.
CSM up 6% in Nasdaq now .... No refreshing news in US till now but it just soared. Guess it's taking cue from SGX after all (like before).
Yeah, this counter was very temperamental. like a woman :)
But my crystal ball says it has started to change gender and will be more and more stable going forward....
....until near december where it will start to morph into an animal...a bird. eg, an Eagle...it will learn how to fly.:) :) :)
Fundamentals has really improved over the last few years and more importantly, management has been delivering on their plans.
But my crystal ball says it has started to change gender and will be more and more stable going forward....
....until near december where it will start to morph into an animal...a bird. eg, an Eagle...it will learn how to fly.:) :) :)
Fundamentals has really improved over the last few years and more importantly, management has been delivering on their plans.
Chartered is a stock that is really volatile. I will avoid this one just because of its volatility.... very temperamental.
MSFT's Vista is scheduled to be launched this Nov .... hope no more delay.
Dell Chairman Tips Improved Sales On Microsoft's Vista
August 13, 2006: 23:03 p.m. EST
SYDNEY -(Dow Jones)-
The launch of the Vista, the new version of the Windows operating system for personal computers, will "probably increase" sales at the company, Dell told reporters in
Dell also said he stands behind the company's Chief Executive
He said Rollins was a "outstanding" executive, responsible for much of the success of the company over the past 10 years.
Dell also sees significant scope for the company to improve its market share in Asia, where it has recently secured the number two market spot.
-By Lyndal McFarland, Dow Jones Newswires; 61-2-8235-2957;
Yesterday, I had posted a topic " Weaker Tech for Year 2007". Get ready to off load tech stocks by April 2007 if you are vested or jumping in soon. Have read quite a few US analysts saying same things next year is bad year.
StatsChp up good and strong today too! Shiok! Cease fire in 24 mintues time ...
UOBKH recommended that investors "overweight" shares in the regional semiconductor industry, citing the sector's improving outlook.
Global Testing rose to $0.265. Chartered rose to $1.15 , while UTAC
"The semiconductor industry is doing much better at managing inventories compared to previous cycles," UOBKH analyst Jonathan Koh said in a note to investors, reiterating "buy" calls for Chartered, UTAC and Global Testing.
Koh also said that strong sales figures by sector peer TSMC
Based on an article by UOB Kay Hian, I gather that there is now a positive view on the semi-conductor industry.
Analyst at UOBKH argued that there would be a shortage of wafer fab capacity going ahead into the first half of 2007. This is positive on CHRT. UOBKH has issued a buy call today with target price of $1.78.
Also related to this is that there will be demand on testing and assembly services and that will benefit UTAC and Global Testing. UOBKH has also issued buy calls on these two counters with target prices of $0.94 for UTAC and $0.43 for Global testing.
any reason why it cheong today?
is it just becos CSFB upgrade it and CSFB is buying? any comments?