Taiwan Stocks: Catcher Tech, Chimei Innolux, Quanta Computer
Shares of the following companies may had unusual moves in Taiwan trading. Stock symbols are in parentheses and prices are as of 1:30 p.m. close in Taipei.
The Taiex Index was little changed at 8,947.35.
Catcher Technology Co. (2474 TT) jumped 6.9 percent to NT$185.50, the highest since Oct. 23, 2007. The computer case maker’s share-price estimate was raised to NT$250 from NT$180 at Citigroup Inc., which maintained a “buy” rating on the company.
Chimei Innolux Corp. (3481) (3481 TT) dropped 2.4 percent to NT$28.30, the lowest level since March 3, 2009. Taiwan’s largest maker of liquid-crystal displays reported a first-quarter net loss of NT$13.8 billion ($483 million). The average analyst estimate compiled by Bloomberg was for a loss of NT$9.7 billion. The stock was cut to “neutral” from “buy” at Goldman Sachs Group Inc.
Quanta Computer Inc. (2382) (2382 TT) advanced 2.6 percent to NT$59.30, the highest since March 8. The laptop maker posted first-quarter net income of NT$5.7 billion, the company said in a statement yesterday. The average of 10 analyst estimates compiled by Bloomberg was for profit of NT$4.6 billion.
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