Technical Analysis – 16 October 2023

Shares closed higher above the 20dEMA with a surge in volume. 5dEMA just crossed the 20dEMA.
MACD is positive, RSI is turning constructive.
Long – Entry 4.70, Target 5.10, Stop 4.50

Shares closed higher above the 50dEMA with constructive volume. 5dEMA just crossed the 20dEMA.
MACD is positive, RSI is constructive.
Long – Entry 15.60, Target 16.60, Stop 15.10

Shares closed at a high since Aug 23 with constructive volume. 5dEMA just crossed the 200dEMA, 20dEMA is about to cross the 50dEMA.
MACD is positive, RSI is constructive.
Long – Entry 3.67, Target 3.87, Stop 3.57

Delta Air Lines Inc (DAL)

3Q23 Revenue: $15.49B, +10.8% YoY, beats estimates by $360M
3Q23 Non-GAAP EPS: $2.03, beat estimates by $0.08
4Q23 Guidance: EPS in the range of $1.05 to $1.30 vs. consensus of $1.09 and FY23 EPS in the range of $6 to $6.25 vs. consensus of $6.01
Comment: Delta Air Lines reported a nearly 60% increase in profit for Q3 due to strong travel demand, especially for international trips. Despite a rise in fuel prices, the company indicated optimism about travel demand continuing in 4Q23. However, the airline revised its FY23 earnings forecast down to $6 to $6.25 a share, from the previous estimate of $6 to $7 a share. It also noted strong demand for premium seats and a surge in international travel. Delta faced some customer backlash for changes to its frequent flyer program and airport lounges, prompting plans to potentially revise these policies in response to customer feedback. Despite the anticipated year-end travel season in Q4, high oil prices are expected to impact Delta’s operating costs. 4Q23 recommended trading range: $33 to $37. Neutral Outlook.

达美航空 (DAL)

23财年第三季营收：154.9亿美元, 同比增幅10.8%，超预期3.6亿美元
23财年第三季Non-GAAP每股盈利：2.03美元，超预期0.08美元
23财年第四季指引：每股收益在1.05美元至1.30美元之间，而市场预期为1.09美元；23财年每股收益在6美元至6.25美元之间，而市场预期为6.01美元
短评：达美航空报告称，由于强劲的旅游需求，尤其是国际旅行需求，该公司第三季度利润增长了近60%。尽管燃油价格上涨，但该公司表示对旅游需求在23年第四季度继续保持乐观。然而，该航空公司将其23财年每股收益预期从此前的6至7美元下调至6至6.25美元。该公司还指出，高端座位需求强劲，国际旅行激增。达美航空对常飞旅客计划和机场贵宾室的改变遭到了一些客户的强烈反对，促使该公司计划根据客户的反馈可能修改这些政策。尽管预计第四季度将是年终旅游旺季，但高油价预计将影响达美航空的运营成本。23财年第四季度建议交易区间：33美元至37美元。中性前景。

Domino’s Pizza Inc (DPZ)

3Q23 Revenue: $1.0B, -6.5% YoY, misses estimates by $50M
3Q23 GAAP EPS: $4.18, beat estimates by $0.89
4Q23 Guidance: Based on actual results for the three fiscal quarters of 2023 and the Company’s outlook for the remainder of fiscal 2023, the Company expects its 2023 global net store growth to trend at or slightly below the low-end of its 5% to 7% two- to three-year outlook. Additionally, the Company expects its 2023 global retail sales growth, excluding foreign currency impact, to trend modestly below the mid-point of its 4% to 8% two -to three-year outlook.
Comment: The company reported a better than expected earnings as higher prices, and new delivery fees, offset a pullback in U.S. sales over the hot summer months. The company has been pushing out their initiatives to drive sustainable growth, such as forming partnerships with delivery companies like UberEats, so as to bring more awareness to Domino’s reward loyalty program, increase deliveries to new customers, and boost market share. The company highlighted that Dominos’ rewards has already engaged more customers, and their integration with Uber’s marketplace is on track. While consumer’s confidence has fallen slightly and sentiments remain mixed, upcoming festive seasons such as thanksgiving and christmas are also expected to drive sales for the company. 4Q23 recommended trading range: $320 to $380. Positive Outlook.

达美乐比萨 (DPZ)

23财年第三季营收：10亿美元, 同比跌幅6.5%，逊预期5,000万美元
23财年第三季GAAP每股盈利：4.18美元，超预期0.89美元
23财年第四季指引：根据23财年前三个季度的实际业绩和公司对23财年剩余时间的展望，公司预计其2023年全球净门店增长率将趋向于或略低于其两到三年展望的5%至7%的低端。此外，该公司预计其2023年的全球零售销售增长率（不包括外汇影响）将略低于其两到三年展望的4%至8%的中间点。
短评：该公司公布的盈利好于预期，因为价格上涨和新的配送费用抵消了美国夏季炎热月份销量下降的影响。该公司一直在推出推动可持续增长的举措，例如与UberEats等快递公司建立合作伙伴关系，以提高达美乐奖励忠诚度计划的知名度，增加新客户的送货量，并提高市场份额。该公司强调，达美乐的奖励已经吸引了更多的客户，它们与优步市场的整合正在进行中。虽然消费者信心略有下降，市场情绪依然喜忧参半，但即将到来的感恩节和圣诞节等节日预计也将推动该公司的销售。23财年第四季度建议交易区间：320美元至380美元。积极前景。