Despite a continued drop in the companyis share price in the United States, Creative Technology saw four straight days of gains in its Singapore stock, thanks to rumors that Microsoft might invest in, or possibly buy, the struggling firm. According to a Reuters story, however, Creativeis Singapore shares were down 4.4% to S$13.10 (Singapore dollars) on Friday, which still left them up 29% from the start of the week. However, theyire down almost 50% for the year, making them one of the worst performers in a stock market that is up overall at this point in 2005.
According to a Business Day story published on Thursday: "Microsoft was iworking hardi to make it easier for Creative and other companies to use Microsoft software for its MP3 players, a Business Times report on July 9 quoted [Bill] Gates as saying. iThe iPod has done great marketing and great design,i Gates was quoted as saying. iWe have to do something with our partners thatis just better.i"
Those comments were enough to spark a rally in Creativeis Singapore shares, although the companyis U.S. stock continued to languish. As of 12:30 PM EST on Friday, they sat at US$7.72, down 1.78% for the day. While the overall NASDAQ was also down at that time, Appleis shares were $41.50, up 1.84% so far in Friday trading.