Technical Analysis – 10 October 2024
United States | Singapore | Hong Kong | Earnings
Norwegian Cruise Line Holdings Ltd. (NCLH US) 
Shares closed at a 52-week high with a surge in volume.
MACD just turned positive, RSI is at an overbought level.
- Long – Entry 22.5 Target 25.5, Stop 21.0
Airbnb, Inc. (ABNB US)
Shares closed at a high since Aug 2024. 20dEMA just crossed the 50dEMA.
MACD is positive, RSI is constructive.
- Long – Entry 134 Target 150, Stop 126
iFAST Corp Ltd. (IFAST SP)
Shares closed at a high since Feb 2024 with a surge in volume. 20dEMA recently crossed the 50dEMA.
MACD is positive, RSI is at an overbought level.
- Long – Entry 7.70, Target 8.30, Stop 7.40
Pacific Radiance Ltd. (PARCA SP)
Shares closed higher above the 5dEMA with a surge in volume.
MACD is positive, RSI is constructive.
- Long – Entry 0.050 Target 0.056, Stop 0.047
BOC Hong Kong Holdings Ltd (2388 HK)
Shares closed at the 5dEMA with an increase in volume.
Both RSI and MACD are constructive.
- Long – Entry 25, Target 27, Stop 24
Pop Mart International Group Ltd (9992 HK) 
Shares closed above the 5wEMA.
MACD is constructive, while RSI is at an overbought level.
- Long – Entry 55.4, Target 61.0, Stop 52.6
PepsiCo Inc (PEP)
- 3Q24 Revenue: $23.32B, -0.6% YoY, miss estimates by $460M
- 3Q24 Non-GAAP EPS: $2.31, beat estimates by $0.02
- FY24 Guidance: Revised organic revenue growth to a low-single-digit increase from previously approximated 4% growth. Maintain expectations of at least 8% increase in core constant currency EPS, core annual effective tax rate of 20%, total cash returns to shareholders of approx. $8.2B, comprised of dividends of $7.2B and share repurchases of $1B and a core EPS of at least $8.15.
- Comment: PepsiCo’s third-quarter revenue fell by 0.6% YoY to US$23.32bn, partly due to a 13% sales slump at Quaker Foods following product recalls and a drop in demand for its snacks and drinks, with volume for its food and beverage divisions declining 2%. Despite the revenue drop, the company maintained profitability through price hikes and cost controls. It delivered earnings of US$2.31 per share above estimates of US$2.29. PepsiCo lowered its annual sales growth forecast for 2024 due to reduced consumer spending on sodas and snacks in North America, as inflation and higher borrowing costs lead customers to opt for cheaper private-label brands. The company anticipates low single-digit organic sales growth, down from its previous 4% estimate. International markets, including Latin America, China, and Europe, are also seeing declining volumes, with geopolitical tensions and economic pressures expected to continue affecting performance. Pepsi recently announced the purchase of Siete Foods for US$1.2bn, to expand its portfolio and appeal to more health-conscious consumers. However, the company faces the ongoing challenge of balancing profitability with consumer affordability, while navigating a challenging economic landscape. 4Q24 recommended trading range: $160 to $180. Neutral Outlook.
百事公司 (PEP)
- 24财年第三季营收：233.2亿美元，同比跌幅0.6%，逊预期4.6亿美元
- 24财年第三季Non-GAAP每股盈利：2.31美元，超预期0.02美元
- 24财年指引：将有机收入增长从之前的约4%调整为低个位数增长。保持核心固定汇率每股收益增长至少8%的预期，核心年度有效税率为20%，股东现金回报总额约为8%。82亿美元，包括72亿美元的股息和10亿美元的股票回购，核心每股收益至少为8.15美元。
- 短评：百事公司第三季度收入同比下降0.6%，至233.2亿美元，部分原因是桂格食品公司在产品召回后销售额暴跌13%，零食和饮料需求下降，其中食品和饮料部门的销量下降了2%。尽管收入下降，但该公司通过提高价格和控制成本保持了盈利能力。其每股收益为2.31美元，高于预期的2.29美元。由于通货膨胀和更高的借贷成本导致消费者选择更便宜的自有品牌，百事公司下调了2024年的年度销售增长预测，原因是北美消费者在苏打水和零食上的支出减少。该公司预计有机销售额将以较低的个位数增长，低于此前4%的预期。包括拉丁美洲、中国和欧洲在内的国际市场销量也在下降，地缘政治紧张局势和经济压力预计将继续影响业绩。百事最近宣布以12亿美元收购Siete Foods，以扩大其产品组合，吸引更多注重健康的消费者。然而，在充满挑战的经济环境中，该公司面临着平衡盈利能力与消费者负担能力的持续挑战。24财年第四季度建议交易区间：160至180美元。中性前景。