Stock News: AMD reaffirmed chip orders with Chartered Semiconductor

Chartered Semiconductor higher on orders news Chartered Semiconductor was sharply higher after Advanced Micro Devices (AMD) reaffirmed last week that it would place chip orders with the company from the second half of this year, dealers said. In early trading, Chartered was up 0.05 sgd or 3.33 pct at 1.55, with 3. 11 mln shares having changed hands. An analyst with a local brokerage said of AMD's reaffirmation: "This is a positive development." Investors are also hoping that Chartered will report this Friday better-than-expected results for the first quarter. Chartered expects revenue in the first quarter to have been in the range of 352-360 mln usd and net profit to have been 10-20 mln usd because of seasonal factors. The previous quarter's sales were 367.21 mln usd and net profit 26.52 mln usd. "There is a chance they might outperform their guidance," the analyst said, noting that orders for chips for Microsoft's X-Box have been strong.