Chartered news – not a bad one
[Dow Jones] Chartered (C27.SG) down 1.5% at $1.29 on moderate 2.2 million shares, in line with its ADRs’ pullback on Nasdaq overnight to around $1.28. But downside likely limited, as near-term outlook for chipmaker remains upbeat, says trader. Besides boost from Microsoft’s Xbox 360 gaming console, “there’s a chance of Chartered getting a slice of Sony’s new Playstation 3 (PS3) pie,” he notes; CSM may get spillover orders from technology partner IBM, which also involved in making PS3 CPUs, to meet rumored worldwide launch date in March. Order book suggests CSM likely to end year around current levels, with 1487 bids at $1.29 vs 1688 offers at $1.30. (CAW)
