0730 GMT [Dow Jones] Top Glove (7113.KU) +2.4% at two-year high of MYR8.6, may retest intraday high of MYR8.11, on expectation of strong 4Q earnings, says dealer with local brokerage. "People are buying the stock because they expect a strong set of results from the glove maker," says dealer. Separately, CIMB Research estimates Top Glove 4Q earnings to be around MYR52 million, which is about 23% higher on-quarter, more than double on-year. "For the full year, the company could beat our estimate of MYR156 million by at least 5%," says CIMB; cites stronger-than-expected sales, especially after the outbreak of H1N1 as reason. Company scheduled to release 4Q results after 0900 GMT tomorrow.
Dow Jones Newswires
October 07, 2009 03:30 ET (07:30 GMT)
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