Stocks to watch: UOB, DBS, Olam, Far East Orchard, Daiwa House Logistics Trust, Manulife US Reit

THE following companies saw new developments that may affect trading of their securities on Wednesday (May 8): 

UOB : The lender on Wednesday posted a net profit of S$1.49 billion for its first quarter ended Mar 31, down 1.6 per cent from S$1.51 billion a year earlier. The earnings beat the mean estimate of S$1.43 billion from three analysts polled by LSEG, on the back of UOB’s trading and investment income and higher net fee income. Shares of UOB ended nearly flat at S$30.55 on Tuesday, down 0.03 per cent or S$0.01. 

DBS : The group’s chief executive Piyush Gupta gained S$2.7 million after selling 75,000 of his DBS shares, the group said on Tuesday. The transaction was carried out last Friday at S$35.70 apiece. After the sale, which accounted for about 2.7 per cent of his DBS holdings, Gupta owns 0.095 per cent or over 2.7 million of the bank’s ordinary shares under a trust. Shares of DBS closed 0.3 per cent or S$0.12 higher at S$35.93, before the announcement.