Apr 19, 2012

Stock recommendations today

Tumbling shares of technology behemoth IBM knocked the Dow deep into the red, offsetting some of the big gains seen on Tuesday.
The Dow Jones Industrial Average, as quoted by Foxbusiness.com, fell 82.8 points, or 0.63%, to 13033, the S&P 500 dipped 5.6 points, or 0.41%, to 1385 and the Nasdaq Composite dropped 11.4 points, or 0.37%, to 3031.
The S&P 500 soared 1.6% in a broad-based rally on Tuesday as traders cheered generally upbeat first-quarter earnings from several big companies and brushed aside worries about the eurozone debt crisis. The mood across American and European trading desks was decidedly dimmer on Wednesday. 
How about Indonesia stock market today? Bisnis Indonesia provides recommendations:

e-Trading Securities:
Today, Jakarta Composite Index (JCI) may move mixed within the range of 4,130-4,193 with potential correction. Several stocks to watch: UNVR, MASA, and BBNI.

Panin Sekuritas:
Today, the JCI may mode sideways with uptrend possibility. The support-resistance level is within the range of 4,150-4,180. Top picks are CTRA, AISA, ROTI, BMRI, and PNBN.

Sinarmas Sekuritas:
Technically, the index today may move mixed within the range of 4,135-4,188. Several stocks to watch: SMRA, CMNP, MYOR, and BBRI.
From newspapers:
Kontan daily
  • The sales of heavy equipment distributor PT United Tractors Tbk in the first quarter of this year is estimated to be flat. Heavy equipment Komatsu was sold 2,207 units, the same level from the first quarter of last year.
  • PT Leo Investments Tbk (ITTG) is aiming to hold rights issue with preemptive rights of 989 million shares at an exercise price of Rp104 a share, enabling the company to grab Rp102.44 billion.
  • Plantation company PT Jaya Agra Wattie Tbk (JAWA) is planning to issue rupiah denominated bonds in September this year to support business expansion. Finance Director Bambang S. Ibrahim said the company has not determined the size of the issuance. "The size is estimated to be Rp500 billion," he said.
  • Tower provider PT Tower Bersama Infrastructure Tbk (TBIG) reported revenue and EBITDA of Rp310 billion and Rp245 billion respectively in the first quarter of this year. The figures represented a 45% increase and 47% increase from the first quarter of last year respectively. TBIG owned and managed 7,689 towers and 5,100 telecommunications sites.
Bisnis Indonesia
  • Four foreign shareholders of property developer PT Summarecon Agung Tbk (SMRA) has placed 290 million shares or 4.2% of the company's total outstanding shares at a discount price range of 6.6%-9.5% from April 17's closing price at Rp1,740 a share. Referring to the price, the sellers offered their shares at Rp1,575-Rp1,625 a share. Those sellers, that mandated Credit Suisse as the placement arranger, were Valence Asset Ltd, Canon Securities Group Ltd, Cinnamon Capital Ltd, and Vanderian Holding Ltd. Yesterday, SMRA was closed at Rp1,710, representing a 29.27x PE.
  • PT United Tractors Tbk (UNTR) remains aggressive for coal mining takeover. Using a Rp1.29 trillion proceed of the last rights issue, the company will use the money for coal acquisition.
  • The state-controlled construction company PT Adhi Karya Tbk (ADHI) aims to launch a Rp1.5 trillion of conventional bonds and sukuk mudharabah. The issuance will be held within the next 3 years under the shelve registration with the initial issuance of Rp750 billion. Corporate Secretary Kurnadi Gularso said the company's existing bonds of Rp500 billion will mature in July, hence the company plans to refinance the debts. Adhi Karya has mandated PT Danareksa Sekuritas and PT OSK Nusadana Securities.
  • The state-owned tin producer PT Timah Tbk (TINS) is focusing its business into offshore mining in a bid to maintain its production.
  • PT Tiga Pilar Sejahtera Food Tbk (AISA) is scouting a Rp3.37 trillion sales this year, a 92.57% increase from Rp1.75 trillion last year.
Disclosure: No position at the stock mentioned above.

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