Creative Technology Shares Rise 1.2% on Sales Outlook (Update1)
Bloomberg News
August 19, 1998, 5:47 a.m. ET
Creative Technology Shares Rise 1.2% on Sales Outlook (Update1)
(Updates share prices.)
Singapore, Aug. 19 (Bloomberg) -- Creative Technology Ltd.'s
shares rose 1.2 percent as it was seen as cheap compared with
potential earnings.
Singapore-based Creative, which makes computer cards that
improve the sound quality of computer games and programs, rose 20
cents to close at S$16.40. The stock earlier rose as much as
S$1.10, or 6.8 percent.
''Christmas sales should be good, and their audio products
are doing well in the U.S. and Japan,'' said Pearly Yap, an
analyst with SG Securities Pte. Yap said she is considering
raising her recommendation on the stock from ''sell.''
Still, there are concerns that Creative's graphics card
business is not doing well, and that sales of its new product
line, ''SoundBlaster Live'', which is targeted at the high-
performance market, might fall short of the company's target, Yap
said.
Creative shares closed at S$16.20 yesterday, their lowest
level since April 3, 1997. The stock was unchanged yesterday at 9
1/2 on the Nasdaq in the U.S.
--Dharmo Soejanto in the Singapore newsroom (65) 438-
news.com
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