Taiwan Stocks: Catcher, Foxconn Tech, Quanta, Yuanta Financial
Stocks of the following companies had unusual moves in Taiwan trading. Stock symbols are in parentheses and prices are as 1:30 p.m. Taiwan close.
The Taiex Index was little changed at 8,714.48.
Catcher Technology Co. (2474 TT), a Taiwanese maker of notebook computer casings, climbed 5.7 percent to NT$167. Catcher’s first-quarter net income rose to NT$1.9 billion ($65 million), compared with NT$567 million a year earlier, according to data compiled by Bloomberg. Credit Suisse Group AG raised Catcher’s share-price estimate to NT$186 from NT$140, and Goldman Sachs Group Inc. increased its target to NT$196 from NT$180.
Foxconn Technology Co. (2354 TT), which makes casings for Apple Inc. computers, surged 6.7 percent to NT$127, the highest since June 5, 2008, on speculation earnings will exceed estimations, said Jeff Pu, an analyst at Fubon Securities Co. The company may report fourth-quarter earnings of NT$2.2 billion and NT$1.87 billion in the first quarter, according to estimates of five analysts surveyed by Bloomberg. Foxconn is due to report results by the end of April. Edmund Ding, the spokesman for parent Foxconn Technology Group, didn’t answer calls to his cellphone.
Quanta Computer Inc. (2382) (2382 TT) increased 1.1 percent to NT$53.4, the most since March 30. Facebook Inc. ordered servers from Quanta, the Economic Daily News reported, without saying where it got the information from. Quanta refused to comment on specific orders, the paper said. Carol Hsu, a spokeswoman for Quanta, didn’t answer calls to her office.
Yuanta Financial Holding Co. (2885 TT) advanced 1 percent to NT$19.75, the most since April 6. The financial services company is looking to acquire a bank to expand its retail operations, the Economic Daily News reported, citing chairman Ching-Chang Yen. Chuang Yu-de, spokesman for Yuanta, didn’t answer calls to his office.
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