SINGAPORE (Feb 28): Here are some stocks that could move the market this Tuesday morning.
Olam International reported 4Q earnings of $102.2 million, compared to a loss of $269.4 million last year on improved operational performance and lower exceptional losses. Operational PATMI, which excludes exceptional items, more than doubled to $102.3 million. Revenues rose 12.1% to $6.1 billion.
See: Olam swings back to profitability in 4Q on better operational performance
United Engineers reported FY16 earnings from discontinued operations of $113.2 million, which included $123 million in divestment gains mainly from disposal of its technology and environmental engineering businesses. Shares of UE closed 2 cents lower at $2.91.
See: United Engineers reports 38% rise in FY16 earnings to $141 mil
Global Logistic Properties on Monday announced that its special committee has evaluated various non-binding proposals received in relation to the independent strategic review of options available for its business. Shares of GLP closed 1 cent lower at $2.74 on Monday.
See: Global Logistic Properties completes evaluation of proposals received in strategic review
Sapphire Corporation reported FY16 earnings by 48.8% to $9.6 million over the previous year, thanks to higher contribution from its rail engineering business Ranken Infrastructure. Revenue for the 12 months ended Dec more than doubled to $224 million. Sapphire closed 9.84% higher at 33.5 cents.
See: Sapphire grows earnings by nearly half to $9.6 mil
Jardine Cycle & Carriage reported FY16 earnings of US$702 million ($971 million) on gains from sale of a property and investment property valuations. Revenue for the year remained relatively unchanged at US$15.8 billion. Shares of Jardine C&C closed 41 cents lower at $40.21.
See: United Engineers reports 38% rise in FY16 earnings to $141 mil
Ng Shin Ein, a non-executive director of the manager of Sabana REIT has called it quits amid a revolt by Sabana REIT’s unitholders. Sabana REIT closed at 44 cents on Tuesday.
See: Sabana REIT manager’s non-executive director Ng Shin Ein resigns
Noble Group, the beleaguered commodities trader, reported net profit of US$8.7 million ($12.2 million) in FY16 compared to a loss of US$1.67 billion in FY15 as it restructured its business operations. Shares of Noble closed 1 cent higher at 23 cents.
See: Noble Group swings back to black in FY16 with earnings of US$8.7 mil
Markets
US stocks ended slightly higher on Monday and the Dow closed at a record high for a 12th straight session, as President Donald Trump said he would make a "big" infrastructure statement on Tuesday. The Dow Jones Industrial Average was up 15.68 points, or 0.08%, to close at 20,837.44, the S&P 500 gained 2.39 points, or 0.10%, to 2,369.73 and the Nasdaq Composite added 16.59 points, or 0.28%, to 5,861.90.
The Straits Times Index lost 8.41 points to finish at 3,108.62 as all three banks fell. Turnover was 2.2 billion units worth $1.2 billion slightly below the average last week. 214 stocks advanced while 267 stocks declined.