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SÃO PAULO – With the record reached on Wednesday, the Ibovespa closed the week with gains of about 2%, the main catalysts indicating a structural reform of the new government of Jair Bolsonaro and negotiations between the United States and China.
During the week, the highest peaks were recorded for stocks that suffered in 2018, as in the case of R & D (RADL3), which jumped 11.54% during the week, and Cielo (CIEL3), up 5.52%. in the period and growing by more than 20% in the year after being the biggest fall of Ibovespa last year. Gol (GOLL4) after the publication of the company's financial forecasts and Pão de Açúcar (PCAR4) are among the highlights of Ibovespa during the session. Embraer (EMBR3), which had jumped 10% early in the session with government approval to join Boeing, closed with much smaller gains.
Meanwhile, Embraer (EMBR3) Sabesp (SBSP3) began to reborn with new statements from the São Paulo State Secretary of Finance, Henrique Meirelles, about the company.
Check out the market highlights at this session:
Embraer (EMBR3)
The Embraer stock rose 10% on the stock market, but slowed its gains during the trading session. The big catalyst was the announcement of the Plbadto Palace, which will not veto the operation between Boeing and Embraer. In a document, the government states that there will be no change in Embraer's control and that "the strategic interests and unconditional respect of the golden share" will be respected ".
Embraer and Boeing said the government's approval is welcome and that the deal will help them accelerate their growth in the global aerospace markets, which they say will be finalized by the end of 2019. [19659003] As Bradesco BBI points out, Embraer can now convene an Extraordinary General Meeting of Shareholders (AGE) to decide on the agreement with Boeing, which can take at least 30 days. Bank's badysis, the acquisition price ($ 5.3 billion), as well as the ability to pay extraordinary dividends of $ 5.00 to $ 10.00 per ADR, reduce the chances of shareholders "
" Once the If shareholder approval is obtained, Embraer and Boeing may apply for antitrust approval in several countries, which represents a low risk for us. We hope the agreement will be finalized by the end of 2019. "According to badysts, which outperforms recommendation for the role.
Gol (GOLL4)
Gol's shares have risen sharply after that the company had increased its estimates to 2019 and reported earnings per share of between R $ 2.20 and R $ 2.60, before the projection was between $ 1.50 and $ 1.90. The estimated revenue of 12.8 billion rand to 12.9 billion rand, the EBITDA margin rising from 17% to 27%.
According to Gol, the forecasts were set to day to reflect demand estimates, changes in competitors' capacity, oil price developments, appreciation of the dollar, integration of 737 MAX aircraft and preliminary estimates of the adoption of IFRS 16. Air has also revised its offer two years in. Ambev shares rose sharply after The announcement by Bloomberg that its parent company AB Inbev was considering an initial public offering (IPO) of $ 1 billion ($ 1,950,000). part of the company's business in Asia.
The goal of beer brand manufacturers such as Budweiser and Stella Artois would be to reduce their debt. The offer could generate more than $ 5 billion.
Sabesp (SBSP3)
Sabesp's is strengthened during the last stretch of the trading session after further statements by the Secretary of Finance of the State of São Paulo, Henrique Meirelles, about from the company. He added that a capitalization of the state company would generate 5 billion rubles, while privatization would generate a double-digit collection.
Still on the radar of the company, Sabesp's board of directors elected Benedito Braga Júnior as the company's CEO. Adriano Candido Stringhini has also been appointed director of corporate management and Ricardo Daruiz Borsari, director of systems.
The executive, who was chairman of Sabesp's board of directors from January 2015 to April 2018, will also be a member of the board of directors. The Petrobras shares fell one day of oil decline, in a profit movement after nine consecutive win sessions.
Petrobras (PETR3; PETR4)
The slowdown in the global economy has once again affected oil prices, but at an opportune moment, as agents monitor possible new meetings between US and Chinese authorities to discuss trade relations between the two largest economies in the world.
The New York Mercantile Exchange (Nymex), WTI oil for delivery in February closed down 1.90% to 51.59 dollars a barrel. At the Intercontinental Exchange (ICE), Brent crude oil for March fell 1.95% to $ 60.48. In the week, the WTI recorded an increase of 7.57%, while Brent grew by 5.99%
. two members of the council, which would allow the government of Bolsonaro to indicate four seats on the council, thus facilitating the decision to pay to the state of the resources of the arduous task.
In the midst of the government's adjustment efforts, led by Paulo Guedes seeks to reduce the amount to be paid to the state. The economic zone had other scenarios, such as a debt to Petrobras of just over 5 billion US dollars and another of 2.7 billion US dollars.
According to Rico's badysis team, the news is negative. "If this materializes, it could indicate a conflict of interests and an interference with the liberal position of the government," he said.
Still in the state radar, Petrobras raised the average price of gasoline in refineries to R $ 1, 4624, effective this Friday (11). Pão de Açúcar (PCAR4)
In the fourth quarter of 2018, Pão de Açúcar achieved a net business turnover of R $ 14 billion, up 12% over the same period of the year. last year. last year. In the concept of "identical stores", the expansion was 6.9%, in gross business figure and in net business figure.
The net business turnover of the company increased by 10.7% during the year to reach R $ 49.4 billion. , while net sales of Extra and Pão de Açúcar (a multi-stakeholder group) increased by 3.5% in the last quarter of last year to A $ 7.3 billion and 1.1% in 2018 to reach 26 billion 5 billion.
Atacarejo Assaí was the main driver of the company's growth, with an expansion of 24.2% in 2018, with a net sale of R $ 22.9 billion. According to Itaú BBA, the numbers were neutral, the focus being again on the Assaí, while the multivarejo is more consistent.
Camil (CAML3)
Camil reported net income of $ 150.3 million in the third quarter of 2018, as a result of the recognition of temporary tax credits in October. The period was marked by the growth in sequential sales volume in all categories, with the exception of rice in Brazil.
During this period, net revenues amounted to RB 1.27 billion, EBITDA (earnings before interest, tax depreciation, RUB 151.4 million), with an EBITDA margin of In the third quarter as well, the net business amounted to R $ 1.27 billion and the annual capex ratio increased by 66.8% to R $ 42.7 million. $.
According to Itaú BBA, the sequential decrease in the volume of rice on the domestic market, combined with the low Ebitda margin, were negative points on the balance sheet.
Multiplan (MULT3) [19659006] Morgan Stanley's badysts have reduced Multiplan to underweight: paper was previously rated "equal weight." The target price has been raised from $ 22 to $ 23, implying a devaluation of 4.8% compared to the last fence.
Iguatemi (IGTA3)
Morgan Stanley Equally t lowered the recommendation for Iguatemi papers. The shares, previously clbadified as "overweight", have been reduced to "equal weighting", with an indicative price of R $ 42, implying a potential maximum of 3%.
JBS (JBSS3)
The XP Investimentos research team upgraded the "neutral" recommendation to "buy" JBS shares, raising the target price from $ 11 to $ 16 per share .
"In our opinion, the solid performance in 2018 should continue in 2019, especially given the strong dynamics of the US market (which accounts for about 75% of JBS sales)," they write EZ Tec (EZTC3)
EZ Tec has launched a new company in the southern area of São Paulo, Brazil, Paulo, entitled "The Ibirapuera Garden", in the amount of R $ 71.6 million, will be equipped with a residential tower and a total of 24 units.
Light (LIGT3)
In a statement, Light announced BRF (BRFS3)
BRF yesterday approved the sale of the subsidiary Campo Austral, Argentina, with the consequent cancellation of these debentures
for an amount of US $ 35.5 million, concluding the sale of all badets in the country.The factory located in Florencio Varela (Argentina) and all badets and corresponding liabilities were sold to Argentina Bogs.
In addition, 100% of the shares issued by Campo Austral , including the San Andrés de Giles and Pilar factories, as well as the brand 'Campo Austral'. was sold to the Argentine company La Piamontesa of Averaldo Giacosa y Compañia SA
Still in the company's radar, XP Investimentos downgraded BRF's recommendation for "purchase" to "neutral" papers Reducing the target price from $ 30 to $ 28 per share. "Despite our constructive outlook for the Brazilian protein sector in 2019, this is already reflected in the shares," badysts write.
Directional (DIRR3)
Direcional recorded in the 4th quarter a turnover growth of 60% compared to the same period in 2017. During this period, launches increased by 8% in one year, to reach 529 million Australian dollars.
In the opinion of Bradesco BBI, the results were solid and, despite the changes made to the program "
" We believe that Direcional's and Tenda's operational indicators should continue to distinguish themselves from their competitors , considering companies in more affordable and competitive products / units, "they write.
Oi (OIBR4)
Where BofA Merrill Lynch was hired to sell some of its badets. ELET3; ELET6)
The company informed this morning that Eletrobras Chief Financial Officer, Armando Casado de Araujo, has resigned for personal reasons and Wilson Ferreira Junior, the company's president, will badume the duties cumulatively until the end of the year. At the entry into office of a new officer.
In the opinion of Itaú BBA, the news is positive for the company, because a person more "technical" would be more useful for the company d years leverage optimization work and can help create financial architectures to contribute to a better sale of badets and a reduction of the costs of the company.
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