Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Jollibee Falls, Ends Longest Win Streak in Two Months

Feb. 18 (Bloomberg) -- Jollibee Foods Corp., the nation’s biggest fast-food company, fell the most in two weeks in Manila trading on speculation a recent rally was excessive.

The stock sank 2.6 percent to 77.90 pesos at the 12 p.m. close of trading, snapping a five-day, 8.8 percent rally that pushed the share price yesterday above its 30-day moving average.

“Jollibee has gone up sharply, making it ripe for investors to sell the stock and make short-term gains,” said James Lago, an analyst at Manila-based PCCI Securities Brokers Corp. “The stock is also overvalued relative to the market.”

Jollibee trades at 25.4 times estimated earnings, compared with the benchmark Philippine Stock Exchange Index’s 12.5 times. The stock declined both times it closed above the 30-day average in January. The five-day rally was the longest since a seven-day streak in December.

To contact the reporter on this story: Ian C. Sayson in Manila at isayson@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.