Awani Review

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Titres en action: Hexo, Rogers Sugar, Alstom, Philips

Stocks in progress: Toyota, Severstal, TD Bank, CIBC Bank

Here is a selection of the ads that have (or will) move the prices of these companies:

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Toyota (TM, $181.38) announced Thursday that it is ready to sell 100% “zero emissions” vehicles (electric or hydrogen) starting in 2035 in Western Europe. The world’s leading manufacturer has not joined the COP26 commitment in Glasgow: about thirty countries and a few car manufacturers (Ford, Mercedes, General Motors, Volvo) are committed to “working” to ensure that all new cars sold are emission-free by 2040 and by 2035 in major markets. Toyota announced on Thursday that it would “stand ready to reduce CO2 emissions of all its new cars by 100% by 2035 in Western Europe,” in line with European Commission proposals to ban combustion engines that same year. Matt Harrison, Europe’s president of manufacturer, said “zero-emissions” sales would gain momentum “subject to the establishment of adequate infrastructure for electric recharging and hydrogen refueling, as well as the necessary increase in renewable energy capabilities”, by then. While most manufacturers have already expanded their electric range, the group hopes to begin marketing the bZ4X, the first 100% electric SUV, from mid-2022 worldwide. In September, he announced that he would invest the equivalent of more than 11 billion euros in developing batteries by 2030 for electric and hybrid vehicles. It also plans to launch 15 100% electric models by 2025.

Russian steel maker Severstal (CHMF.ME, 1,564.40 RUB), owned by Russian billionaire Alexei Mordashov, on Thursday announced the sale of Coke assets to reduce its carbon footprint, as Russian groups recently ramped up initiatives to “clean up” their activities. This deal appears to allow Severstal to “clean up” its own assets on paper while continuing to collaborate with the group for coal. Dans un communiqué, Severstal a “annoncé avoir signé un accord contraignant avec le groupe Russkaya Energiya pour la vente de ses actifs dans le charbon à coke”, nommés “Vorkutaugol” pour 15 milliards de roubles (1,8 milliard au t’eurosaux au current). With this sale, Severstal wants to “reduce our carbon footprint,” while specifying that “in the medium term, coal will remain an integral part of steel production.” Not much is known about the group’s purchase of these assets, Russkaya Energiya. The sale must be completed in the first quarter of 2022, following an antitrust service agreement, Severstal determines. Severstal says Vorkutaugol, located in the Arctic, is responsible for 14% of annual greenhouse gas emissions.

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TD Bank Group (TD.TO, $91.98) said Thursday that fourth-quarter net income fell significantly year-on-year, from $5.143 billion to $3.781 billion, but over the same period, adjusted net income declined. The last three months of 2020 to $3.866 billion this year. The financial institution adds that diluted earnings per share as shown were $2.04 in the fourth quarter compared to $2.80 in the fourth quarter of 2020. Over the same period, adjusted earnings per share increased from $1.60 to $2.09. TD Bank Group explained the 26% year-over-year decline in net income due to the effects of selling the bank’s stake in TD Ameritrade. For the full year of 2021, net income was $14.298 billion, or $7.72 per diluted share, compared to $11.895 billion, or $6.43 per diluted share, in fiscal year 2020. During the same period, adjusted net income was $US. $14.649 billion, or $7.91 per adjusted dilutive share, compared to $9.968 billion, or $5.36 per adjusted diluted share in 2020. TD Group Bank announced a dividend increase of $0.10 per common share for the quarter ending January 31, 2022 , an increase of 13%.

The bank CIBC (CM-PQ.TO, $24.51) reported net income of $1.44 billion in the fourth quarter of the current fiscal year, or $3.07 per diluted share, up 42% from the total of $1.016 billion, or $2.20 per diluted share. In the corresponding quarter of fiscal year 2020. Adjusted net income for the quarter ended October 31 increased 23% over the same period, from $1.28 billion to $1.573 billion. CIBC reported that fourth-quarter 2021 results were significantly impacted by a $109 million cost of consolidating the mortgage portfolio. For the year ended October 31, CIBC reported net income of $6.4 billion and adjusted net income of $6.7 billion, compared to net income of $3,8 billion and adjusted net income of $4.4 billion for 2020. CIBC also announced an increase Quarterly dividend, $1.46 to $1.61 per common share for the quarter ending January 31.

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