KGI Research Singapore

Singapore's leading broker offering Futures, FX, Equities and Wealth Management.

Technical Analysis – 27 June 2024

United States | Singapore | Hong Kong | Earnings

Samsara Inc. (IOT US)

  • Shares closed higher above the 5dEMA with higher volume.
  • MACD just turned positive, RSI is turning constructive.
  • Long – Entry 30.6, Target 33.6, Stop 29.1
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Datadog, Inc. (DDOG US)

  • Shares closed higher above the 50dEMA. 5dEMA just crossed the 50dEMA.
  • MACD is positive, RSI is constructive.
  • Long – Entry 122, Target 132, Stop 117

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United Overseas Bank Ltd. (UOB SP)

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  • Shares closed at a 2-months high above the 5dEMA.
  • MACD just turned positive, RSI is constructive.
  • Long – Entry 31.0, Target 32.4, Stop 30.3

iFast Corp. Ltd. (IFAST SP)

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  • Shares closed higher above the 5dEMA. 20dEMA recently crossed the 50dEMA.
  • MACD is positive, RSI is constructive.
  • Long – Entry 7.30, Target 7.90, Stop 7.00

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Tingyi Cayman Islands Holding Corp (322 HK)

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  • Shares closed above the 5dEMA with rising volume.
  • RSI is constructive and MACD turned positive.
  • Long – Entry 9.9, Target 10.5, Stop 9.6
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Want Want China Holdings Ltd (151 HK)

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  • Shares jumped and closed above the 200dEMA with an increase in volume. The 5dEMA crossed the 20dEMA.
  • RSI is constructive and MACD is positive.
  • Long – Entry 4.66, Target 5.04, Stop 4.47

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Carnival Corp. (CCL)

  • 2Q24 Revenue: $5.78B, +17.7% YoY, beat estimates by $90M
  • 2Q24 Non-GAAP EPS: $0.11, beat estimates by $0.13
  • 3Q24 Guidance: Expect net yield to be up approx. 8 % YoY; Adjusted EBITDA of approx. $2.66bn, up 20% YoY; Adjusted net income of approx.. $1.58bn, up 35% YoY. FY24 Guidance: Expect net yield up approx. 10.25% compared to FY23, compared to a previous figure of 9.5%; Adjusted EBITDA of approx. $5.83bn, up nearly 40% YoY, and compared to a previous guidance of $5.63bn; Adjusted net income of approx. $1.55bn, compared to previous guidance of $1.28bn; adjusted ROIC approx. 10%.
  • Comment: Carnival Corp reported robust results and raised its FY24 guidance, driven by higher ticket prices, increased occupancy, and greater onboard spending. The company has also focused on reducing costs and lowering debts over the quarter. These efforts enabled Carnival to achieve profitability, surpassing market expectations of a quarterly loss. Additionally, the company noted a strong demand for cruises, with consumers seeking affordable “revenge travel” options. Carnival also reported that its advance bookings for FY25 are already higher than for 2024 in terms of both price and occupancy. This surge in advance bookings and firmer pricing for upcoming quarters indicate that the cruise industry’s recovery is accelerating beyond expectations. 3Q24 recommended trading range: $16 to $22. Positive Outlook.

埃森哲 (CCL)

  • 24财年第三季营收：164.7亿美元，同比跌幅0.5%，逊预期7,000万美元
  • 24财年第三季Non-GAAP每股盈利：3.13美元，逊预期0.02美元
  • 24财年第三季股息：埃森哲宣布每股1.29美元的季度股息，与之前一致。远期收益率1.81%；8月15日付息日；7月11日为股东登记日；7月11日为除息日。
  • 24财年第三季指引：预计营收在160.5亿美元至166.5亿美元之间，而市场预期为166.5亿美元。24财年指引：以当地货币计算，预计收入增长1.5%至2.5%，此前预期为1%至3%，市场普遍预期为1.64%；预计外汇对美元业绩的影响将同比下降0.7%。
  • 短评：埃森哲报告了较弱的业绩，但发布了强于预期的24年第四季度收入指引。今年迄今，该公司在生成式人工智能领域的销售额达到20亿美元，营收达到5亿美元，突显出其在人工智能领域的早期领导地位。生成式人工智能部门的新预订量环比增长了50%，24年第四季度的乐观前景表明，对其人工智能产品的需求持续强劲。该部门的增长速度超过了该公司的其他核心业务，尽管市场预期表明，随着企业支出趋于平稳，需求可能会放缓。24财年第四季度建议交易区间：280美元至360美元。积极前景。

FedEx Corp. (FDX)

  • 4Q24 Revenue: $22.1B, +0.9% YoY, beat estimates by $30M
  • 4Q24 EPS: $5.41, beat estimates by $0.04
  • FY25 Guidance: Expect revenue to grow at low to mid-single-digit rate and EPS of $20 to $22 vs consensus of $20.75. It will also conduct an assessment of FedEx freight in value-creation plans.
  • Share buyback: Expect to repurchase $2.5bn of common stock, including $1bn in the first fiscal quarter.
  • Comment: In the fiscal fourth quarter of 2024, FedEx reported revenue and earnings beat alongside a decline in capital spending. Despite challenges in its Express overnight delivery unit, FedEx reported a 7.2%YoY growth in earnings to US$1.34bn for the fourth quarter, with revenue slightly exceeding estimates at US$22.1bn amid persisting weak demand for package deliveries. The company announced its decision to terminate its unprofitable US Postal Service contract, which represented only US$1.75bn of FY24 revenue, on 29 September. Despite the lackluster macroeconomic environment, FedEx expects FY25 profits to reach US$20 to US$22 per share, surpassing analysts’ expectations of US$20.75, with revenue expected to grow in the low-to-mid single digits. The company also plans to potentially sell its US$2.3bn freight trucking business. Looking forward, FedEx’s cost-cutting measures and operational consolidation, such as downsizing its air fleet by retiring 22 Boeing 757-200 freighter aircraft, will continue to bolster the declining volumes of its deliveries. 1Q25 recommended trading range: $280 to $300. Positive Outlook.

克罗格 (FDX)

  • 24财年第一季营收：453亿美元，同比增幅0.3%，超预期1.8亿美元
  • 24财年第一季Non-GAAP每股盈利：1.43美元，超预期0.06美元
  • 24财年指引：公司重申其24财年指引；预计不含燃料的同款汽车销量将增长0.25%至1.75%；调整后的FIFO营业利润为46亿至48亿美元；调整后的摊薄每股净收益为4.30至4.50美元，而市场预期为4.43美元；调整后的自由现金流为25亿至27亿美元；资本支出34亿至36亿美元；调整有效税率为23%。
  • 短评：克罗格公布了强劲的业绩，这得益于其食品杂货业务的卓越表现，该业务通过可承受的价格和个性化的促销活动，在客户需求增加的时候创造了巨大的价值。该公司在最注重预算的家庭中看到了积极的势头，高端客户的支出也在增加。然而，克罗格在财报电话会议上表示，预计其制药业务的盈利压力将持续到2024年第二季度，导致24年第二季度调整后每股收益下降。挑战包括GLP-1药物的供应问题，以及对其他药物的意外监管限制，这些都增加了成本，压低了利润率。虽然克罗格计划继续支付季度股息，并预计随着时间的推移会增加股息，但它已经暂停了股票回购计划，以优先考虑与Albertsons合并后的去杠杆化。24财年第二季度建议交易区间：45美元至50美元。中性前景。