9:39 am – Movida (MOVI3): Impressive performance continues, says XP
Analysts point out that Movida presented good results in 1Q22, with net income 19% above estimates. The main positives were the continued strong margin performance of the rental segments, reflecting sequentially higher average rates, with RaC and GTF Ebitda margins of 62.8% and 71.8%, respectively, reflecting a positive average rate performance ; and another set of positive numbers from Used Cars, sustaining high EBITDA margins.
XP reiterates a positive view of the sector and a buy recommendation for Movida, with a target price of BRL 26.
9:33 am – Movida (MOVI3): fleet strategy is bearing fruit, says BBI
Net revenue was in line with BBI estimates, driven by the average daily rental price in the segment rent-a-car jumping to R$ 127.50. Average monthly revenue reached a new record of R$1,557 per car and there was also a 20% growth in used car revenue in the quarter, as the number of used cars sold improved by 22% in the period.
According to BBI analysts, efficient revenue management, full use of PIS/Cofins tax credits and a disciplined cost structure, raised the Ebitda margin in RAC and GTF, while the Used Car segment remains a positive highlight, boosting moved.
Bradesco BBI reiterates assessment outperform and target price of BRL 28.
9:29 am – Rumo (RAIL3) and Hidrovias do Brasil (HBSA3) should have better quarterly results, predicts BBA
Itaú BBA analysts expect both Rumo and Hidrovias to show significant annual improvements in the first quarter of this year. For Rumo, they project adjusted EBITDA of R$989 million (increase of 19% YoY), driven by strong volumes in the North operations and despite the negative impact of the increase in diesel prices on margins.
For Hidrovias do Brasil, analysts project Ebitda of R$166 million, an increase of 20% due to strong volume performance in the Northern Corridor and increased efficiency in the Southern Corridor. Rumo and Hidrovias do Brasil are scheduled to report results on May 5 and 16, respectively.
9:26 am – BBI expects more weak results for the healthcare sector in 1Q22
The pandemic and inflation should reflect on company results, notes Bradesco BBI. Highlight for the impact of Omicron on health operators/hospitals and on inflation in general, but especially on pharmacies.
According to analysts, the only positive numbers should come from Viveo ([ativo=VVEO]), Oncoclinics (ONCO3) and Hermes Pardini (PARD3).
On the other hand, drugstores (Raia Drograsil, Panvel and Pague Menos) and health plan operators (Hapvida and SulAmérica) should be the negative highlights, due to margin pressures.
9:14 am – Movida (MOVI3) records mixed trends in Q1, says BBA
Movida’s 1Q22 results were marked by some sequentially positive operational trends (especially in RAC tariffs), with key figures coming in slightly below BBA’s strong estimates and slightly above consensus.
Although the car rental segment (RAC) utilization rate dropped to 76.1% (from 80.8% in 4Q21 and 79.3% in 1Q21), its rates increased 56% year-over-year, with the fleet average operating income growing 16% year-on-year, resulting in net revenue growth of 63%.
The Ebitda margin increased, in part due to higher yieldsbut mainly due to a more positive effect of PIS and COFINS tax credits (which were first captured in December 2021).
The bank maintains rating outperform for paper, and a target price of R$ 26 compared to the quotation on Friday (29) of R$ 18.15.
9:07 am – Commercial dollar rises 0.94%, to BRL 4,988 in purchases and BRL 4.989 in sales
9:05 am – Futures indices in New York lose strength and zero gains
Dow Jones futures are now down 0.09%, while the S&P 500 is down 0.33%. Nasdaq accentuates losses and falls 0.56%. The futures Ibovespa also has zero gains and operates close to stability, with a slight increase of 0.07%.
9:02 am – IBC-Br rises 0.34% in February after falling 0.99% in January; Refinitiv consensus projected 0.50% advance
9:02 am – Futures Ibovespa opens higher and rises 0.49% to 109,480 points
9 am – Braskem: J&F, owner of JBS (JBSS3), makes a proposal to buy a stake in Petrobras (PETR3;PETR4) and Novonor in Braskem, says newspaper
Negotiations for the acquisition of Petrobras and Novonor’s stakes in Braskem by J&F advanced, according to a report by columnist Lauro Jardim.
According to the columnist, the Batista brothers’ holding has already submitted a proposal to both the creditor banks and Odebrecht.
8:48 am – Raízen (RAIZ4) completes acquisition of Shell’s lubricant business
Raízen informed that the acquisition of the entire lubricant business from Shell Brasil Petróleo Ltda.
The lubricants plant in Ilha do Governador, in Rio de Janeiro, the base oils terminal in Campos Elíseos, in Duque de Caxias (RJ), the Shell Marine marine lubricants division and the supply businesses became part of Raízen’s portfolio. and distribution of Shell brand lubricants in the country.
8:44 am – Movida (MOVI3) starts the year with “strength”, says Credit Suisse
For Credit’s analysts, Movida presented good results in 1Q22, in line with its Ebitda estimates, while net income was slightly above the bank’s projections.
Credit Suisse maintains a neutral recommendation for Movida and a target price of BRL 21.
8:28 am – Bolsonaro: there are almost 30 Russian fertilizer ships coming to Brazil
8:22 am – Petrobras (PETR3;PETR4) starts production of the FPSO Guanabara in the Mero field
Petrobras (PETR3;PETR4) reported having started production of oil and natural gas last Saturday (30th) through the floating platform (FPSO) Guanabara, the first definitive production system installed in the Mero field, in the pre-salt layer of the Basin. from Santos.
The platform has the capacity to process up to 180 thousand barrels of oil and 12 million cubic meters of gas, which represents 6% of the production operated by Petrobras, thus contributing to the expected growth of the company’s production. Mero is the third largest pre-salt oil field (behind Búzios and Tupi).
In the first stage, 6 production wells and 7 injectors will be connected to the FPSO. The platform is expected to reach peak production by the end of 2022.
According to Petrobras, the Mero 1 project is part of one of the most robust programs for capturing, using and geologically storing CO2 in the world – called CCUS. These initiatives are in line with Petrobras’ commitment to a 32% reduction in carbon intensity in the Exploration and Production area by 2025.
The Mero unitized field is operated by Petrobras (38.6%), in partnership with Shell Brasil Petroléo (19.3%), TotalEnergies EP Brasil (19.3%), CNODC Brasil Petróleo e Gás (9.65% ), CNOOC Petroleum Brasil (9.65%) and Pré-Sal Petróleo SA -PPSA (3.5%), representing the Union in the non-contracted area.
8:21 am – Movida (MOVI3) profits 135.7% more in the 1st quarter of 2022, at R$ 258 million
8:26 am – Hermes Pardini (PARD3): 60% purchase of IACS is approved
8:11 am – InfoMoney Radar – CPFL (CPFE3) will distribute BRL 3.7 billion in dividends and more companies announce earnings; other highlights on the radar
8:10 am – FGV Business Confidence Index rose 2.7 points in April
The ICE rose to 94.5 points and reached the highest level since November last year. “With the second increase in a row, the ICE reverses the downward trend observed between September 2021 and February 2022 and recovers 30% of the 11.2 points lost in the period”, says Aloisio Campelo Jr., Superintendent of Statistics at FGV IBRE.
He highlights that the service sector made the biggest contribution to the rise, especially those provided to families, a sign of normalization of the economy in a post-pandemic context. The other highlight in the month is industrial confidence, which rose 2.4 points after eight consecutive declines.
8:02 am – IPC-S, from FGV, advances 1.08% in the fourth four weeks of April
Index accumulates high of 10.61% in the last 12 months. Five of the eight classes of expense that make up the IPC-S registered a decrease in their rates of change. On the other hand, Education, Reading and Recreation (1.86% to 2.51%), Health and Personal Care (0.80% to 1.14%) and Clothing (1.11% to 1.26%) groups showed progress in their rates of change.
7:50 am – JBS (JBSS3) buys two plants in the Middle East and announces CEO for the region
7:47 am – Oil falls sharply after reduced activity in China
The Chinese are the main importers of the raw material and face a new outbreak of Covid-19 that is already starting to reflect on economic activity. Concerns about a drop in Chinese demand weigh on prices, which, on the other hand, could reflect a potential embargo on Russian oil by the European Union.
See the oil price now:
- WTI oil, -3.09% at $101.46 a barrel
- Brent crude, -2.66% at $104.29 a barrel
7:40 am – Cryptos today: Bitcoin and Ethereum rise, Solana has 7-hour “blackout” and DeFi protocol suffers new hack
7:37 am – New York index futures rise awaiting Federal Reserve decision
After a negative week and month of April, the pre-market on Wall Street is rehearsing a recovery, even if there is no concretely positive news to sustain gains. Tomorrow begins the monetary policy meeting of the American Central Bank (Federal Reserve) and the expectation is that US interest rates will be raised by 0.5 percentage point.
The prospect of monetary tightening is good for fixed income (as it increases their profitability), dollar and bad for riskier markets. The New York Stock Exchanges were also strongly impacted by the latest results of companies, referring to the first quarter, especially companies in the technology sector.
Here’s how futures indices operate right now:
- Dow Jones Futures (USA), +0.47%
- S&P 500 Futures (US), +0.45%
- Nasdaq Future (US), +0.56%
7:32 am – European stocks operate lower with fear of new bottlenecks and weak indicators in Germany
The day is also of reduced liquidity on the European Stock Exchanges, as today is a bank holiday in the United Kingdom and the markets do not operate there. However, the indices decline with the prospect of new bottlenecks in the production chain, a reflection of a new wave of Covid-19 and lockdowns in China.
This morning, the PMI’s for Germany, which dropped to 54.6 in April, and the Euro Zone, which dropped to 55.5, came out. Still on the German economy, the country’s retail sales fell 2.7% year-on-year in March, more than expected. The monthly change was negative by 0.1%, while the expectation is that there would be a high of 0.3%.
The market tracks tensions over the war in Ukraine, with new bombings and cities being evacuated. Germany and other European Union countries are preparing to stop buying Russian oil.
See how European exchanges operate at the moment:
- FTSE 100 (UK), closed for public holidays
- DAX (Germany), -0.65%
- CAC 40 (France), -1.31%
- FTSE MIB (Italy), -0.83%
7:20 am – Asian markets start week on a low; Chinese stocks did not open due to the holiday
Monday was of reduced liquidity for Asian stock exchanges, with Chinese stock exchanges closed until next Thursday, due to the Labor Day holiday. Still, it was news from the Asian dragon that impacted the markets. April’s official manufacturing Purchasing Managers’ Index fell to 47.4, a second straight month of contraction after March’s reading of 49.5, data from the Chinese National Bureau of Statistics showed on Saturday.
A private survey also showed contraction in Chinese manufacturing activity, with the Caixin/Markit manufacturing PMI reaching 46, down from the previous month’s reading of 48.1.
The current outbreak of Covid-19 in the country and the lockdowns cast a shadow over the future of the Chinese economy and some economists believe that the country’s Gross Domestic Product (GDP) could grow less than that of the United States in 2022.
See how the main Asian stock exchanges closed this Monday:
- Shanghai SE (China), closed for public holidays
- Nikkei (Japan), -0.11%
- Hang Seng Index (Hong Kong), closed for public holidays
- Kospi (South Korea), -0.28%
Looking for a good buying opportunity? XP Strategist Reveals 6 Cheap Stocks to Buy Today.