Latest news for Creative Technology (OTC:CREAF) Stock

CREATIVE TECH ORD

Creative Technology Ltd operates as a digital entertainment company. The business activity of the company includes designing, manufacturing, and distribution of digitized sound and video boards, computers and related multimedia, and personal digital entertainment products. It offers products such as Amplifiers, sound cards, sound blasters, gaming headsets, speakers, peripherals and other accessories. Geographically, the firm has its business presence across the region of Singapore, United States of America, Asia Pacific, and Europe of which Asia Pacific region accounts for the majority of revenue.

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The COVID-19 pandemic has  radically changed the nature of work and sparked demand for an ecosystem of products and services that facilitate remote work and social distancing.

Webcam, Computer Accessory Demand Booms As Workers Telecommute During Coronavirus Pandemic

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7 Singapore Stocks To Watch On Friday, February 15

CREATIVE TECH LTD ORD by Creative Technology Ltd.

Creative Technology Ltd

Creative Technology

The COVID-19 pandemic has <a href="https://www.benzinga.com/real-estate/reit/20/04/15757336/will-the-remote-office-become-habit-after-the-coronavirus-pandemic"> radically changed </a>the nature of work and sparked demand for an ecosystem of products and services that facilitate remote work&nbsp;and social distancing.

Demand for products such as webcams, computer accessories, PCs and notebooks has been on the rise since the outbreak became a pandemic.&nbsp;

&quot;Whether working or learning from home, productivity hardware is required &mdash; and with many Americans settling into this new reality, we saw historic sales increases over the first two weeks of March,&quot; Stephen Baker, VP of technology and mobile at NPD,&nbsp;<a href="https://www.npd.com/wps/portal/npd/us/blog/2020/its-time-for-home-productivity-to-shine/">said</a>&nbsp;in a blog post.&nbsp;

<h3>New Lease On Life For Webcams&nbsp;</h3>

Webcams have become&nbsp;sine qua non for those working from home using computers.&nbsp;

This is evident from the 179% year-over-year jump in webcam sales in the first three weeks of March, according to&nbsp;<a href="https://finance.yahoo.com/news/americans-buying-historic-amount-computers-webcams-121043910.html">Yahoo Finance, </a> which cited NPD data.

Logitech International SA (NASDAQ:<a class="ticker" href="/stock/LOGI#NASDAQ">LOGI</a>), the leader in webcam sales, said it has depleted its inventory, with e-commerce sites such as Amazon.com, Inc. (NASDAQ:<a class="ticker" href="/stock/AMZN#NASDAQ">AMZN</a>) also running&nbsp;out of stock, <a href="https://www.usatoday.com/story/tech/2020/04/07/coronavirus-shortage-webcams-sold-out-ebay-price-gouging/2956373001/">USA Today reported. </a>

The supply shortage has led to price gouging&nbsp;on&nbsp;used cameras, the report said.&nbsp;

In late February, JPMorgan analyst <a href="https://www.tipranks.com/analysts/paul-j-chung"> Paul Chung </a> upgraded Logitech from Neutral to Overweight&nbsp;with a $48 price target.

One of the key premises behind the upgrade was &quot;possible upside to webcam demand, given the indirect benefit from the Coronavirus impacts as travel is restricted, and working from home is encouraged.&quot;

See also: <a href="https://www.benzinga.com/money/top-tech-etfs-right-now/"> Top Tech ETFs Right Now </a>

Other companies that are likely to benefit from the opportunity presented by the renewed demand for webcams are:

<ul>
	<li>Sony Corp (NYSE:<a class="ticker" href="/stock/SNE#NYSE">SNE</a>)</li>
	<li>Creative Technology Ltd (OTC:<a class="ticker" href="/stock/CREAF#OTC">CREAF</a>)</li>
</ul>

<h3>Computer, Accessory&nbsp;Demands Go Through The Roof</h3>

Sales of laptops and desktops rose 40% in the first three weeks of March in the U.S., while sales of keyboards, PC headset and monitor sales increased 64%, 134% and 138%, respectively, in the same period, according to NPD data.&nbsp;

This should bode well for computer manufacturers such as Dell Technologies Inc (NYSE:<a class="ticker" href="/stock/DELL#NYSE">DELL</a>), HP Inc (NYSE:<a class="ticker" href="/stock/HPQ#NYSE">HPQ</a>) and&nbsp;Lenovo Group Limited (OTC:<a class="ticker" href="/stock/LNVGY#OTC">LNVGY</a>), among others.

<a href="https://www.benzinga.com/news/20/03/15636886/intel-amd-say-theyre-operating-near-capacity-despite-coronavirus-disruptions">PC chip suppliers </a> such as Intel Corporation (NASDAQ:<a class="ticker" href="/stock/INTC#NASDAQ">INTC</a>) and Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="/stock/AMD#NASDAQ">AMD</a>) and software companies such as Microsoft Corporation (NASDAQ:<a class="ticker" href="/stock/MSFT#NASDAQ">MSFT</a>) also stand to gain.

At the same time, supply side issues stemming from the COVID-19 crisis have impacted shipments of traditional PCs, including desktops, notebook and workstations, according to <a href="https://www.idc.com/getdoc.jsp?containerId=prUS46214420"> IDC. </a>

The report said global traditional PC shipments fell 9.8% year-over-year in the quarter despite increased demand to meet remote work and school needs.

Related Link: <a href="https://www.benzinga.com/news/19/11/14899200/black-friday-electronic-deals"> Black Friday Electronic Deals </a>

The following companies are expected to be in focus when the Singapore market opens on Friday, February 15.

<h3>Singapore Airlines</h3>

Singapore Airlines (OTC:<a class="ticker" href="/stock/SINGY#OTC">SINGY</a>) (SGX: C6L)&nbsp;reported on Thursday its fiscal third quarter net profit fell 27 percent on-year to S$284.1 million as a sharp increase in fuel costs offset a rise in revenue. The results beat a forecast from Daiwa.

<h3>Thai Beverage</h3>

Thai Beverage (OTC:<a class="ticker" href="/stock/TBVPF#OTC">TBVPF</a>) (SGX: Y92)&nbsp;reported on Thursday its fiscal first quarter net profit rose 35.5 percent on-year to 7.48 billion Thai baht (S$242.24 million or US$238.6 million), excluding non-recurring year-ago expenses, as revenue from the spirits, F&amp;N/FPL and food businesses all increased.

The company also announced it incorporated a new wholly owned subsidiary, C.A.I., in Thailand, in which it will hold 99.9996 percent and two shareholders will hold one share each.

The new entity will mainly be involved in the ASEAN Economic Community&#39;s business, art and culture knowledge exchange, it said in a filing to SGX after the market close on Thursday.

C.A.I. has a registered capital of 5 million baht consisting of 500,000 shares valued at 10 baht each, it said.

<h3>StarHub</h3>

Singapore telco StarHub (OTC:<a class="ticker" href="/stock/SRHBY#OTC">SRHBY</a>) (SGX: CC3)&nbsp;reported on Thursday that its fourth quarter net profit dropped 61.8 percent on-year to S$19.8 million amid losses from the Ensign and D&#39;Crypt businesses and lower mobile and pay TV revenue. The results beat a forecast from Daiwa.

<h3>Soilbuild Business Space REIT</h3>

Soilbuild Business Space REIT (SGX: SV3U)&nbsp;said on Thursday that it was informed third party has filed an application for tenant NK Ingredients, which is currently in default of its lease agreement, to be placed under judicial management with the High Court of Singapore.

<h3>Creative Technology</h3>

Creative Technology (OTC:<a class="ticker" href="/stock/CREAF#OTC">CREAF</a>) (SGX: C76) reported its fiscal second quarter net loss widened to US$4.92 million, from a US$4.23 million loss in the year-ago quarter as sales dropped.

<h3>Old Chang Kee</h3>

Iconic Singapore curry puff maker Old Chang Kee (SGX: 5ML)&nbsp;reported on Thursday its fiscal third quarter profit after tax increased 24.6 percent on year to S$1.54 million amid higher revenue from retail outlets.

Related Links:

<a href="https://www.benzinga.com/news/19/02/13177385/52-stocks-moving-in-thursdays-mid-day-session">52 Stocks Moving In Thursday&#39;s Mid-Day Session</a>

<a href="https://www.benzinga.com/news/19/02/13177224/mid-day-market-update-invacare-surges-following-strong-q4-results-motif-bio-shar">Mid-Day Market Update: Invacare Surges Following Strong Q4 Results; Motif Bio Shares Slide</a>

<ol><li>Integrated Media Technology (IMTE)</li><li>Activision Blizzard (ATVI)</li><li>VivoPower (VVPR)</li><li>Alibaba (BABA)</li><li>Tesla (TSLA)</li><li>China Recycling Energy (CREG)</li><li>Euro Tech (CLWT)</li><li>Teva (TEVA)</li><li>Boxlight (BOXL)</li><li>Portola Pharma (PTLA)</li></ol>

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