URC Buys Australia Snack Brand

URC has dropped more than 10% since claims of LEAD in some of its drink product in Vietnam. LATEST NEWS Aug 17 Philippine snacks and beverage manufacturer Universal Robina Corp said on Wednesday it is buying the maker of Snack Brands Australia (SBA) for A$600 million ($460.86 million), expanding its portfolio in the Oceania region. URC chart shows four red volumes  followed by a green volume worth 4.2 M.  Will URC bounce  or it will fall near  0.5(174) FIBO.  Intraday chart is still sideways with a volume breakout near the end. EARNINGS In a disclosure to the Philippine Stock Exchange on Friday, the company said its net income went up to P12.2 billion from P9.6 billion year-on-year driven by unrealized foreign exchange gains on its New Zealand business and moderate growth across its segments, but was weighed down by the business in Vietnam. Net sales increased by 4.2 percent to P85.37 billion, mainly driven by branded food products in the Philippines, Indonesia, Griffin's, and renewables.