BHP, Cnooc, Dominos, HTC, Kirin, Tepco: Asia Stock Preview
The following companies may have unusual price changes in Asian trading tomorrow. Stock symbols are in parentheses, and share prices are as of the last close. The information in each item was released after markets shut unless stated otherwise.
Cnooc Ltd. (883) (883 HK): BP Plc’s $7.1 billion deal to sell a stake in Argentine crude producer Pan American Energy LLC to Cnooc Ltd. collapsed, 10 days after Argentina’s leader ordered oil companies to repatriate future export revenue. Cnooc gained 5.1 percent to HK$15.26.
Dominos Pizza Enterprises Ltd. (DMP AU): The pizza company renewed the contract of its managing director for five years with the same terms and conditions. The shares gained 3.9 percent to A$7.12.
DeNA Co. (2432 JT): The Japanese social-networking service provider agreed to buy the Yokohama BayStars baseball team from Tokyo Broadcasting System Holdings Inc. DeNA said it will pay 9.5 billion yen ($122 million) for 66.9 percent of the club. The stock dipped 0.5 percent to 2,627 yen.
Hirose Electric Co. (6806 JT): The electric-equipment maker cut its full-year operating-profit forecast 12 percent to 19.5 billion yen, missing analysts’ 22 billion-yen estimate in a Bloomberg survey. The company also cut its second-half dividend from 75 yen to 55 yen. The stock rose 1.4 percent to 7,280 yen.
HTC Corp. (2498) (2498 TT): The smartphone maker’s October sales rose 39 percent to NT$44 billion ($1.5 billion) from a year earlier, according to the company’s statement to the Taiwan stock exchange. The stock gained 2.2 percent to NT$640.
Inpex Corp. (1605) (1605 JT): Japan’s top oil explorer raised its full-year net-income forecast 8.8 percent to 140 billion yen, saying revenue rose in line with petroleum and natural gas prices. The stock advanced 1.9 percent to 528,000 yen.
Kirin Holdings Co. (2503 JT): Japan’s biggest beverage maker cut its full-year net-income forecast 48 percent to 27 billion yen, missing analysts’ 68 billion-yen estimate in a Bloomberg survey. The company cited securities losses and impairment of fixed assets for its outlook. The stock rose 1.5 percent to 971 yen.
Nikon Corp. (7731) (7731 JT): The camera maker cut its full-year net-income forecast 8.3 percent to 55 billion yen, saying flooding in Thailand hurt its output. The stock gained 2.3 percent to 1,745 yen.
Oriental Land Co. (4661 JT): The operator of Tokyo Disney Resort forecast net income of 29.4 billion yen for the year ending March 31, compared with 22.9 billion yen a year earlier. The stock gained 0.6 percent to 7,830 yen.
Sumitomo Chemical Co. (4005 JT): The chemical products maker plans to spend 15 billion yen to build a plant to make parts to cut emissions on diesel automobiles in Poland, the Nikkei newspaper said, without saying where it got the information. The stock rose 2.2 percent to 278 yen.
Takeda Pharmaceutical Co. (4502 JT): The nation’s biggest drugmaker slashed its full-year net-income forecast 31 percent to 170 billion yen, compared with a 252 billion-yen estimate from analysts surveyed by Bloomberg. Takeda cited costs related to the 9.6 billion-euro ($13.3 billion) takeover of Swiss rival Nycomed and the yen’s appreciation for the revised forecast. The stock gained 0.9 percent to 3,505 yen.
Tingyi (Cayman Islands) Holding Corp. (322 HK): PepsiCo Inc. will ally with Tingyi-Asahi Beverage Holdings, a venture between Asahi Group Holdings Ltd. (2502 JT) and Tingyi (Cayman Islands). PepsiCo will sell stakes in 24 bottling companies in China and acquire a 5 percent stake in Tingyi-Asahi, with an option to raise its stake to as much as 20 percent, according to a statement from Asahi to the Tokyo Stock Exchange. Tingyi was suspended from trading in Hong Kong pending an announcement. Asahi lost 1.2 percent to 1,585 yen.
Tokyo Electric Power Co. (9501 JT): The utility known as Tepco expects a full-year loss of 600 billion yen compared with a 1,250 billion-yen loss a year earlier. Tepco cited higher fuel costs from replacing nuclear energy with conventional power after the Fukushima disaster. The stock fell 0.7 percent to 300 yen.
Tokio Marine Holdings Inc. (8766) (8766 JP): Japan’s biggest non- life insurer cut its first-half net income 17 percent to 79 billion yen because of natural disasters abroad, according to a preliminary earnings statement. The stock jumped 4.7 percent to 1,884 yen.
To contact the reporter on this story: Masaaki Iwamoto in Tokyo at firstname.lastname@example.org
To contact the editor responsible for this story: Nick Gentle at email@example.com