Foxconn Rises to Highest Since June 2008 on Earnings Speculation
April 17, 2011, 11:01 PM EDTBy Weiyi Lim
April 18 (Bloomberg) -- Foxconn Technology Co., which makes casings for Apple Inc. computers, surged to the highest since June 2008 in Taipei trading on speculation earnings will exceed estimations, said Jeff Pu, an analyst at Fubon Securities Co.
The stock jumped 6.7 percent to NT$127 as of 10:25 a.m., set for the highest since June 5, 2008. The company may report fourth-quarter earnings of NT$2.2 billion and NT$1.87 billion in the first quarter, according to estimates of five analysts surveyed by Bloomberg. Foxconn will report fourth-quarter and first-quarter results by the end of April. Edmund Ding, the spokesman for parent Foxconn Technology Group, didn’t answer calls to his cellphone.
To contact the reporter on this story: Weiyi Lim in Singapore at wlim26@bloomberg.net
To contact the editor responsible for this story: Richard Frost at rfrost4@bloomberg.net
