MONEY MASTER

Quick Summary Coca-Cola  issued a  2026 sales outlook that slightly missed market expectations , sending shares lower despite continued strength in zero-sugar products. What Happened Coca-Cola guided for  organic sales growth of 4%–5% in 2026 Street expectation:  ~ 5.01% , putting the  lower end below estimates Shares fell  up to 4.1% in premarket trading Key Points to Watch 2026 sales outlook disappointed  on the lower end of guidance Zero-sugar products remain the growth engine , but not enough to fully lift sentiment Policy and regulatory pressure  is emerging as a new overhang Zero-Sugar Still the Bright Spot Coca-Cola continues to benefit from shifting consumer preferences: Coca-Cola Zero Sugar:   +14% growth in 2025 Diet Coke:  +2% in Q4, flat for the full year Demand for  full-sugar sodas continues to decline , while sugar-free, sports drinks, and water gain share This reinforces Coca-Cola’s long-term strategy to diversify be...

Summary PepsiCo  is planning  price cuts of up to 15%  on popular snacks like  Lay’s, Doritos and Flamin’ Hot Cheetos , responding to growing consumer frustration over high food prices. The move signals a broader shift among big food brands as shoppers trade down to cheaper alternatives. What’s Driving the Decision Consumers pushed back hard : PepsiCo received a surge of emails and voicemails complaining snack prices were too high Snack inflation has been steep : Salty snack prices were  ~38% higher in 2024 vs 2020 , according to Jefferies Sales momentum slowed  as shoppers increasingly chose  private-label brands “ Consumers told us they need more value ,” said Rachel Ferdinando, CEO of PepsiCo’s US food business. What Prices May Look Like Lay’s 8oz bag : from  US$4.99 → ~US$4.29 Doritos ~9.25oz bag : price cut by  ~80 cents to US$5.49 Same pack size , but clearly marketed as  lower price (Retailers set final prices, but PepsiCo expects...

Maintain Neutral with unchanged target price (TP) of RM0.88 NTPM’s 2HFY17 revenue came in at RM315.6 m (+6.6% YoY), while net profit dipped to RM25.4m (-15.1% YoY). The higher revenue was driven by increase in sales of tissue products, meeting 44.1% of our revenue forecast for FY17F. The lower net profit which met 35.9% of our FY17F net profit forecast awas dragged by the continued losses incurred in the post commencement of Vietnam's initial tissue operations resulting in margin deterioration from higher energy and labour costs. Vietnam’s operations have affected the Group’s overall performance for the year, however this quarter’s higher sales revenue and margin improvement as a result of favourable product mix recorded boosted overall performance. We are expecting the easing of cost pressures from Vietnam’s operations as contributions become more visible in the medium term, and thus to breakeven by FY18. We are maintaining our Neutral view with a unchanged TP of...