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Taiwan Stocks: Catcher Technology, E-ton Solar Tech, Powertech

April 24 (Bloomberg) -- Shares of the following companies had unusual moves in Taiwan trading. Stock symbols are in parentheses and prices are as of the close in Taipei. The benchmark Taiex Index gained 0.2 percent to 7,498.84.

Catcher Technology Co. (2474 TT) gained 3.2 percent to NT$196, the biggest increase since April 13. The casing maker reported first-quarter net income of NT$2.79 billion ($94.67 million), better than the NT$2.44 billion average estimate of 16 analysts compiled by Bloomberg. Citigroup Inc. said it expects the company’s second-quarter revenue to rise by double digits from the first three months of the year as key customers such as Apple Inc. and HTC Corp. move into new product cycles. Credit Suisse Group AG increased its share-price estimate to NT$225 from NT$220, saying risk-reward now is “more attractive.”

E-ton Solar Tech Co. (3452 TT) slumped 4.7 percent to NT$15.20, the lowest close since April 9. The board approved a plan to sell up to NT$3 billion convertible bonds through a private placement, according to a statement to the island’s bourse.

Powertech Technology Inc. (6239 TT) advanced 3.2 percent to NT$51.90, the biggest increase since March 23. First-quarter net income was NT$1.13 billion, according to a statement to the Taiwan stock exchange. That was in line with the NT$1.18 billion estimate of nine analysts in a Bloomberg survey.

To contact the reporter on this story: Weiyi Lim in Singapore at wlim26@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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