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SÃO PAULO – The news of the company move on Thursday (17), the market turning to Taurus Armas after the recent fall, while Petrobras won the victory in the STJ and Folha announced that the joint venture agreement between Embraer and Boeing is expected to employ 9,000 people. Check out the highlights of corporate news this Thursday:
With a brutal fall of nearly 40% after the signing of Jair Bolsonaro's decree on facilitating the possession of weapons, Taurus demonstrated behind the scenes the measure of the new government, according to the newspaper's Coluna do Broad informs O Estado de S. Paulo.
According to the publication, the president of the Bull, Salesio Nuhs, would have hinted that he was not satisfied with the measure. He believes that there are not many attractions in arms manufacturing in Brazil and that this poses above all regulatory and tax problems. Therefore, the ideal would be to produce abroad and export to Brazil, importers do not have to undergo any approval, which takes on average three years between prototype construction and launch. In addition, the tax burden is not the same.
Advocates of the flexibilization of possession and possession of arms felt the government measures shy, as they also expected a reduction in prices and a bureaucracy in the purchase of goods. # 39; s equipment.
The President of the Superior Court of Justice (STJ), Minister João Otávio de Noronha, yesterday overturned a decision of the Federal Court preventing the sale of Associated Gas Carrier (TAG), a subsidiary company of Petrobras.
The sale of the subsidiary was hampered by the Regional Regional Court of the 5th region, based in Recife, as part of a popular suit filed by the Federal District Court of Appeal.
On appeal to STJ, AGU argued that, contrary to the union's claim, the Federal Court of Auditors had recognized the regularity of the sales process (TCU) and observed the best market practices. According to the public company, the sales process is part of the third of Petrobras' internal divestment program, which was budgeted at R21 billion.
In deciding the matter, the President of STJ understood that the continuation of the suspension would be serious. damage to the economy and public order. After the decision, Petrobras announced the resumption of the TAG sales process.
In addition, the ANP (National Agency for Petroleum, Natural Gas and Biofuels) released Wednesday the U-200 (atmospheric distillation unit) of the refinery Paulínia (Replan), one of three units affected by the accident occurred at the refinery in August 2018. In a note, the agency indicates that Petrobras has responded to all requests from the agency. "In this way, the refinery has all its processing capacity again," reports the ANP.
Embraer (EMBR3)
Embraer saw its ADR (American Depositary Receipt) downgraded to equal weight by Morgan Stanley, the target price being reduced to $ 24, 50 to $ 23.70.
The aircraft manufacturer has reduced its operating profit forecast from 2018 to $ 200 million the day before, compared to a previous estimate of a profit ranging between $ 270 and $ 355 million. The company also revised the estimate for EBITDA (EBITDA before interest, taxes, depreciation and amortization), as well as EBITDA and operating margins.
According to the company, the changes are due to the reduction in debt lowering the volume of deliveries in business aviation and the reduction of revenues of the defense and security sector
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According to the newspaper Folha de S. Paulo, the new company created following the redemption Embraer's commercial aviation line by Boeing is expected to employ around 9,000 people in Brazil.
Cosan (CSAN3)
Cosan launches a similar application to Alipay, widely used in China, for payments and money transfers by smartphone. The bet may allow the group companies to save millions of reais in bank fees and, as a result, place the sugar and alcohol giant on the fintech market in Brazil.
The initial goal is to eliminate the need for credit and cardboard machines in some of the 6,300 service stations it owns in partnership with Royal Dutch Shell. Over time, the company wants to create a broader ecosystem of users and businesses on the platform.
Localiza (RENT3)
Localiza announced that she was evaluating the possibility of a main tender for
shares. The company claims to have "hired advisers and is currently evaluating the possibility of making a public offering of primary distribution of shares
".
As stressed by Thiago Salomão, an badyst at Rico Investimentos, in a message sent to subscribers. in the Rico Premium Portfolio, equities posted significantly above average during the last two trading days, indicating that the rumor is already on the horizon. He points out that the competitor Locamerica / Unidas has recently followed up to improve the capital position and drive growth in a market situation where the leader is Localiza.
Even (EVEN3)
Even disclosed the fourth quarter of 2018, with a net business turnover of $ 333 million (even part) over the period, of which $ 190 million related to sales of quarterly launches. In the same quarter of 2017, sales amounted to R $ 273 million.
"The only negative highlights were a slowdown in sales launches and sales cancellations still high," says Itaú BBA. Analysts maintain market performance recommendation at Even with a fair price of $ 6.40 per share for 2019. However, despite the limited rise in current prices, badysts believe that this solution could be a good choice in a market scenario. macroeconomic recovery.
Banco do Brasil (BBAS3)
Itaú BBA also revised the fair price of Banco do Brasil from R $ 48 to R $ 56 per share for 2019, mainly due to a lower cost of capital [19659005]] Analysts reiterated the stock's outperformance recommendation when they felt that, despite strong recent performance, the valuation remained relatively cheap.
"The factors that underlie our decision are: (ii) slightly higher earnings due to better efficiency, (iii) long-term ROAE remaining around 16%," badysts said.
Educational
BBI Bradesco started coverage for the education sector by designating Estácio (ESTC3) as the first choice, with a purchase recommendation and an indicative price of R $ 40, which represents a potential for appreciation. 38% compared to the closing of last Wednesday. Analysts estimate that Estácio is better prepared for the short and medium term challenges while continuing to use its efficiencies to overshadow the FIES student base.
Also among the stocks with a recommendation for outperformance are Anima (ANIM3), a target price of $ 23 and Educational Being (SEER3) with a target price of $ 25. The recommendation for Kroton (KROT3) is neutral, with a target price of $ 11.
Oi (OIBR3; OIBR4)
Itaú BBA updated the estimates for Oi taking into account the new macroeconomic badumptions and the latest results of the telephone company. Analysts have maintained a recommendation for outperformance and raised the target price for 2019 for OIBR3 to 2 USD, against 4 USD in 2018.
"Oi goes out of the process of bankruptcy (RJ), leaving behind a The last step will be the completion of the capital increase of Oi for a capital injection of 4.0 billion rubles, but the company still faces significant operational and financial challenges, "they said. .
Analysts believe that the discounted cash flow method of valuation suggests that the outperformance recommendation is warranted. "However, we do not underestimate the complexity inherent in Oi's execution of its investment strategy and its commercial approach in a still limited financial framework."
Copel (CPLE6)
Copel's new leadership will focus on recovering the company's DNA, focusing on production, transmission and distribution activities. A possible privatization is not in the plans of the government, said Valor Econômico, the new president of the company, Daniel Pimentel Slaviero.
Goal (GOLL4) and Blue (AZUL4)
Attention, a news that may have an impact on stock market shares. Avianca Brazil has announced that it will cut its most important international flights and return two A330s to leasing companies. As of March 31, the company is closing its daily flights from Guarulhos to Santiago, New York and Miami.
"Gol is the main beneficiary of Avianca Brasil's capacity reduction, given the overlapping routes of more than 90% of both companies," says Bradesco BBI.
Steel Manufacturers
The countries of the European Union decided yesterday to impose new barriers against Brazilian steel and other steel, in accordance with this that US President Donald Trump had already done. All steel imports will be subject to a quota until July 2021. The volume exceeding this ceiling will be taxed at 25%.
Brazil exported 14 million tons of steel products in 2018, which represents 8.9 billion US dollars. Of this total, 2.1 million tonnes of steel products were exported to the European Union, or about $ 1.4 billion.
According to the proposal of the European Commission, a total of 26 steel products would be taxed. China will be limited to 16 different products, against 17 in Turkey and 15 in India. In the case of Brazil, seven out of 26 possible products will constitute target barriers, including plates, leaves and some tubes.
(With Agência Brasil and Agência Estado)
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