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Intel Corp (US)

Intel Corp, a key technology barometer in corporate tech, released earnings after the close last night that pushed the stock up as high as 8% in after-hours trading. The chip maker earned $0.55 a share, which is right on target with what they earned in the second quarter of 2014. According to Thomson Reuters, Intel was expected to earn $0.50 per share, meaning a $0.05 beat for the chip maker. Sales were expected to come in at $13.8 billion but were reported at $13.2 billion. Gross margins were expected to be 61.84% and came above estimates, at 62.5%. Looking at the charts below which represent the closing prices of regular trading last night, the $29.50-to-$30 level has proven to be a strong support over the past year. With this strong report, especially in terms of the improvement in gross margins, we may see a firmer bounce from here tonight, when regular trading opens (after-hours trade is indicating this). On the downside, however, is a gap (from June 2014) that has yet to close.

Sembcorp Marine (Singapore)

Sembcorp Marine announced yesterday that they have entered into an Engineering and Construction contract worth approximately US$1bln with Heerema Offshore Services, to build a new semi-submersible crane vessel. This follows an earlier exclusive option signed for this semi-sub crane vessel in March. This vessel is scheduled for delivery in 2018. Sembcorp Marine broke below the key support of SGD2.85 but has rallied back to retest this level, now a resistance.

Saizeriya Co Ltd (Japan)

Saizeriya Co’s stock continued to soar today to hit a high of Y2991 in early trading this morning, the highest level since June of 2002. This is on the back of a 7% pop yesterday, after they reported strong operating profits. The popular restaurant operator posted a 44.3% jump in operating profit yesterday when they reported a rise in the number of customers, due to lower menu prices. The stock at this level is trading at 56x PER, well above the sector’s median of 19x PER. Early signals from the charts suggests an upside capitulation move as the early gain has been met with an almost immediate pullback. If the stock closes here today, the ‘shooting star’ formation could signal a reversal for the stock here.
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