Stocks to watch: Del Monte Pacific, SIA, StarHub
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THE following companies saw new developments that may affect trading of their securities on Friday (Mar 11):
Del Monte Pacific: D03 The canned food brand on Thursday posted earnings of US$25.9 million for the third fiscal quarter ended January, down 14 per cent from US$30.2 million a year earlier. Its chief executive noted margins and profits in the quarter were impacted by significant cost headwinds. Shares of Del Monte closed at S$0.40 on Thursday, up 1.3 per cent or S$0.005, before the announcement.
Singapore Airlines (SIA): C6L Logistics company DHL Express on Thursday said it has entered into an agreement with flag carrier SIA to deploy 5 Boeing 777 freighters. The freighters will be based at Changi Airport and serve DHL's South Asia Hub located in Singapore. Shares of SIA closed at S$5.02 on Thursday, up S$0.06 or 1.2 per cent, before the announcement.
StarHub: CC3 The Infocomm Media Development Authority on Wednesday granted the telco regulatory approval to acquire a 50.1 per cent stake in MyRepublic's broadband unit, noting that the merger could allow StarHub and MyRepublic to compete more effectively with competitive prices or more innovative services. Shares of StarHub closed flat at S$1.25 on Thursday.
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