October 7, 2022
Ultrapar shares jump 9% with succession plan while Vale shares fall 1% in the "ex-dividend" session;  Advance "Petrobras"

Ultrapar shares jump 9% with succession plan while Vale shares fall 1% in the “ex-dividend” session; Advance “Petrobras”

SÃO PAULO – Ultrapar’s shares (UGPA3) was the most notable gain in the index, advancing 9% amid a succession plan for key CEOs and a change at the helm of its largest business unit, the Ipiranga gas station network.

Meanwhile, Vale shares (VALE3), which is trading without dividend, which was R$8.19, From this date onwards, they are down in this session, between 0.7% and 1.3%, after rising 3.5% yesterday and even with the most positive scenario for iron ore Amid expectations from operators that peak Chinese demand in the fall will help the recovery of raw materials. Investors also continue to monitor the Evergrande case.

Usiminas has a new earnings session, around 2%, while Gerdau (GGBR4) and CSN (CSNA3) works between the slight highs and lows.

Already working Petrobras (PETR3;PETR4) rises about 1% on a day of a slight rise in oil, after the fallout from the fall in US commodity inventories above expectations and with renewed risk appetite.

Check out the highlights:

Ultrapar (UGPA3)

Ultrapar announced on Wednesday The process of succession to key executive positions begins and change to head its largest business unit, Ipiranga Gas Station Network.

The company stated in its Market Facts that Ipiranga’s commercial vice president, Leonardo Remião Linden, has been elected as the chain’s new CEO, instead of Marcelo de Araújo, who will take over the corporate and equity holding position. Changes will be implemented in October.

BBI estimates that Ultrapar shares can react positively to the news, as the market sees the need for strategic changes in Ultrapar. The bank says the biggest challenge will be increasing profitability at Ipiranga and notes that Marcos Lutz is a strong name to do the job. Bradesco BBI maintains its neutral assessment of Ipiranga, and says it appreciates that the margin outlook for Ipiranga remains highly uncertain. The bank’s target rate is R$21.

The Federal Court of Rio de Janeiro decided that Petrobras Organizing the recruitment process for foreign law firms. The matter is for the state-owned company to start asking for the stands to be registered with the Brazilian Bar Association (OAB).

The injunction was signed by Judge Maria Amelia Sinos de Carvalho, of the 23rd Federal Court of Rio, and is valid for all executed and scheduled contracts, with or without a bidding process.

“These rules are required to be respected by any and all contractors on the national territory, including mixed capital companies,” the judge wrote.

Hapveda Board of Directors Received a letter of resignation from the position of commercial vice president and Candido Pinheiro’s relationship with Corinne de Lima Jr., one of the company’s observers, as of December 2021.

To take on this role, Licio Tavares Angelo Sintra has been selected, a member of the company’s board of directors since April 2021.

Cintra has worked for over 14 years with the São Francisco Group. During this period, he led the business district for 5 years, as well as being CEO of the São Francisco Group from 2009 until its sale to Hapveda in 2019.

Hypera’s board of directors agreed to pay R$194.77 million in interest on equity, or R$0.30808 per common share.

Interest on equity will be paid by the end of fiscal year 2022, on a date to be determined by the Company in due course, based on the shareholding position in the Company’s records at the end of September 27, 2021, with the Company’s issue shares being traded “without interest on equity” as of September 28. 2021 inclusive. Between the date of this notification to shareholders and the date of payment, no cash re-statement will be applied to the declared amount, he told.

Carrefour Brazil (CRFB3)

Carrefour Brazil has informed its shareholders and the market in general that Luis Moreno (CEO – Carrefour Variejo) and Win Wang (CEO – Carrefour Properties) will be leaving their positions in the group.

Stefan Maquier, CEO of Carrefour Brazil Group, will take over as CEO of Carrefour Varigo and Stefan Engelhard, Executive Director of Corporate Relations, will take on the role of CEO – Carrefour Properties.

Irani Papel e Embalagem has said it will invest R$70.2 million in the company’s facilities, including a new printer, according to a market-related fact.

The resources will be applied to “the process information management system, expansion of the Vargem Bonita paper mill effluent treatment plant (SC), and a new printer and packaging plant (SP) automation system,” the company said.

Credit rating agency Fitch has upgraded Gol’s rating from CCC+ to B-, with a stable outlook.

Multiplan (MULT3)

Multiplan has agreed to issue R$450 million in bonds maturing over seven years. The amount should be used to pay general expenses, short and long-term debt, investments, and manage cash flow.

Eve Urban Air Mobility, an Embraer company, and the Bristow Group, the UK’s global leader in vertical flight solutions, announced Thursday that Memorandum of Understanding (MOU) to work on developing an Air Operator Certification (AOC) for the Eve electric vertical takeoff and landing (eVTOL).

As Embraer explained in a statement, the joint work will develop an operating model for urban air mobility (UAM) using Bristow’s expertise in the safe transportation of passengers and cargo around the world.

In addition, Bristow has announced an order for up to 100 eVTOLs with deliveries expected to begin in 2026.

“Collaboration builds on each partner’s strengths, Bristow has more than 70 years of experience in global transportation operations, while Eve, with its unique value proposition, offers a comprehensive range of UAM products, services and solutions for different regions. The UAM operating environment will focus on areas such as Vehicle design, vertical port design, operating environment regulatory development, eVTOL certification and autonomous operation, Embraer emphasizes in its statement.

According to the Brazilian company, the companies plan to develop service-based capabilities to support and improve the performance and use of operating eVTOLs and existing air traffic management systems, as well as new drones and unmanned traffic management systems.

Mining company Vale has pulled out of all mining operations on indigenous lands in Brazil, realizing that activity in these areas can only occur with the free, prior and informed consent (CLPI) of the indigenous people themselves and legislation that allows and appropriately regulates, the company said in a memo.

The company, which does not conduct any mineral research or mining activities on indigenous lands (TIs) in Brazil, has already given up 89 mining operations — which include research and mining requirements — interfering with indigenous lands in the country, with the agency. National Mining (ANM), between 2020 and 2021.

Clapin announced Wednesday the death of Chairman Armando Clapin, 89, in Rio de Janeiro. The CEO is considered one of those who led the company in the early 2000s to focus on the packaging industry.

Klabin is currently the largest producer of paper for packaging in the country, having also entered into pulp production. The company did not report the cause of death.

Our Lady (GNDI3)

Yesterday, the Brazil Journal highlighted that Bain Capital is looking for advisors to sell 50% of its stake in GNDI. Bain Capital owns 11.2% of GNDI’s capital, and according to the news, it is already in advanced negotiations with potential advisers for the deal.

According to XP, the event should not affect the company’s stock much more than yesterday’s 3.9% drop, since (1) the ongoing merger will actually reduce Bain Capital’s stake to about 5%, and (2) the transaction amount, roughly. R$2.7 billion, which would be close to 6 times the company’s estimated average turnover after the merger. “We reiterate our buy recommendation, as we see no relevant change in fundamentals,” the analysis team confirmed.

Cora Health (KRSA3)

Itaú BBA started coverage of Kora Saúde with a superior valuation (the valuation perspective is above the market average) and a target price for 2022 of R $ 12. R $ 12. It is the third largest hospital group in Brazil, set up to standardize the sector, serving the demands of high healthcare service demand Quality in Brazil.

The company has a strong organic and inorganic expansion agenda, aiming to triple in size by 2025, according to estimates, with steady returns on capital.

(with Bloomberg, Estadão Content, and Reuters)

Top 3 short-term profitability analysts share it Exclusive way on the stock exchange