Armstrong Industrial (A14.SG) off 3.3% at $0.44 following 35.2% sequential fall in 3Q10 earnings to $4.6 million on FX losses, lower margins. Volume modest, with any further downside expected minimal given management’s guidance for stronger 4Q10 performance vs 3Q10. 

“Things have improved in the last one month and sequential results are expected to be better,” says Kim Eng Securities; has Buy call, $0.53 target. 30-day moving average, last at $0.435, tipped as support. On-year, maker of rubber, foam components for electronics, automotive sectors reported 13.2% rise in net profit on improved sales.