Blackberry Posts Loss as Revenue Misses Estimates
Cnooc, Hana Financial, Hyundai Heavy, LG Chem: Asia Ex-Japan Stock Preview
The following companies may have unusual price changes today in Asian trading, excluding Japan. Stock symbols are in parentheses and share prices are from the previous close, unless noted otherwise.
AGL Energy Ltd. (AGK) : An Australian renewable energy company signed A$1.2 billion ($1.3 billion) of loans, according to data compiled by Bloomberg. One revolving facility of A$400 million matures in July 2016 while another term facility of A$600 million matures in July 2014, the data show. Separately, the company signed a A$200 million term loan due July 2031 to help fund its 50 percent interest in a wind farm in southern Australia, the data show. AGL gained 0.6 percent to A$14.28.
Cnooc Ltd. (883) (883 HK): Cnooc will continue looking at assets to buy globally with its “relatively ample” cash, Zhong Hua, chief financial officer at the Chinese oil company, said on a conference call. The company will buy projects that fit its long-term strategy, Zhong said. Cnooc dropped 3.2 percent to HK$17.48.
Hana Financial Group Inc. (086790) (086790 KS): The South Korean lender said second-quarter profit more than doubled on gains from selling its stake in a construction company and a wider lending margin. Net income climbed to 482.6 billion won ($457 million) in the three months ended June 30 from a revised 199.7 billion won a year earlier, the Seoul-based company said in a regulatory filing. Hana added 0.5 percent to 38,200 won.
Hyundai Heavy Industries Co. (009540 KS): The world’s largest shipyard said profit in the second quarter dropped 17 percent as it built more ships that were won at lower prices after the credit crisis. Net income fell to 538.8 billion won ($510 million) from a restated 645.4 billion won a year earlier, the Ulsan, South Korea-based company said in regulatory filing based on parent figures. Hyundai Heavy dropped 3.9 percent to 432,000 won.
International Container Terminal Services Inc. (ICT) : The largest Philippine port operator has extended the deadline for acceptance of its takeover for Portek International Ltd. (PORT SP) to 5:30 p.m. Aug. 10, a filing with the Singapore stock exchange showed. International Container advanced 1.8 percent to 58 pesos.
LG Chem Ltd. (051910) (051910 KS): South Korea’s biggest chemicals maker posted a 3.3 percent decline in second-quarter profit, missing analyst estimates, as demand for materials used to make notebooks and mobile phones weakened. Net income declined to 624.5 billion won ($590 million) in the three months ended June 30 from 645.7 billion won a year earlier, the Seoul-based company said in a regulatory filing today. That compares with the 648.8 billion won average of nine analyst estimates compiled by Bloomberg. The stock rose 1.4 percent to 493,500 won.
Xinjiang Xinxin Mining Industry Co. (3833 HK): Xinjiang Xinxin expects financial results for the six months ended June 30 to decrease “significantly” from a year earlier, according to a statement to the Hong Kong stock exchange. The company cited a decline in production volume and an increase in production costs. The shares fell 0.9 percent to HK$4.32.
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