Titres en action: Well Fargo, Home Depot, BMO…

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

(Come back and read us from time to time
so as not to miss an update)

The American Bank Well Fargo (WFC, US $ 36.82) said on Tuesday it was selling its WFAM asset management business to investment funds GTCR and Reverence Capital Partners for $ 2.1 billion, according to a statement. This Wells Fargo Asset Management (WFAM) business unit manages some $ 603 billion in assets and employs 450 people in 24 offices. The American bank will retain 9.9% of the capital of this branch of asset management and will become “an important client” of this activity. “Operating as an independent portfolio management firm within GTCR and Reverence Capital will provide many benefits to clients, employees and strategic partners of WFAM, including Wells Fargo,” said Barry Sommers, who heads the management division. investments at Wells Fargo.

The American home improvement giant Home Depot (HD, US $ 262.59) posted some of the best results in Q4 and 2020 history as many Americans, forced to stay at home, indulged in DIY. The sign saw its quarterly net profit soar 16% to 2.9 billion dollars thanks to sales up 25.1% to 32.2 billion dollars, according to a statement released Tuesday. Adjusted earnings per share, the benchmark in North America, stood at $ 2.65, slightly above analysts’ forecast of $ 2.62. For the year, the DIY store chain’s sales jumped 19.9% ​​or $ 21.9 billion from 2019 to $ 132.1 billion. The net profit came to 12.3 billion, an increase of 15.2%. “Given the uncertainties related to the duration of the COVID-19 pandemic and its influence on consumers”, the group did not want to make forecasts for 2021. This caution has refreshed investors and the action, which is part of the index of flagship stocks of the Dow Jones, fell almost 6% in the morning on Wall Street.

Thomson Reuters (TRI, US $ 85.97) posted fourth-quarter profit of US $ 562 million on Tuesday, which was higher than expected, and announced an increase in its quarterly dividend. The company will now pay a quarterly dividend of 40.5 cents per share, up 2.5 cents from the 38 cents previously paid. Thomson Reuters reported earnings per share of US $ 1.13 for its quarter ended December 31, which compares to profit of US $ 1.32 billion, or US $ 2.64 per share, for the same period a year earlier – in which she had enjoyed a large one-time gain. Quarterly revenues totaled US $ 1.62 billion, up from US $ 1.58 billion in the fourth quarter of 2019. On an adjusted basis, Thomson Reuters achieved earnings per share of up to 54 cents US recent quarter, compared to 37 cents US for the same period a year earlier. Analysts on average expected an adjusted profit of 46 cents per share, according to forecasts collected by financial data firm Refinitiv.

BMO Financial Group (BMO.TO, $ 101.84) posted book net income of $ 2.02 billion, or $ 3.03 per share, for the first quarter ended Jan. 31, compared to net income of $ 1.6 billion in the corresponding quarter of fiscal 2020. During the same period, adjusted net income increased from $ 1.6 billion to $ 2 billion or $ 3.06 per share. BMO Capital Markets reported first quarter 2021 net book income of $ 483 million, up $ 127 million or 36% from a year ago, and after adjustment it was to $ 489 million, up $ 127 million, or 35%. Revenue growth was 6%.

The Banque Scotia (BNS.TO, $ 72.08) slightly increased its profits in the first quarter of 2021 compared to the corresponding period of the previous fiscal year. In one year, net income has gone from $ 2.3 billion to $ 2.4 billion. As for diluted earnings per share, it rose 1% during the same period, rising from $ 1.84 to $ 1.86. Adjusted net income was $ 2.4 billion and adjusted diluted earnings per share was $ 1.88, up 3% from the same quarter last year. Brian Porter, President and CEO of Scotiabank, reports that all four lines of business contributed to these results.

British banking giant HSBC (HSBC, US $ 29.98) on Tuesday pledged to accelerate its Asian refocus despite tensions between China and Western countries, reporting a 35% plunge in annual profit due to the pandemic . Annual net income in 2020 stood at $ 3.9 billion, down from $ 5.9 billion a year earlier, a decline explained by higher than expected credit losses and impairment charges. “The pandemic inevitably affected our performance,” explained Noel Quinn, who was confirmed in March as managing director after John Flint was ousted in August 2019. And added: “the shutdown of the Most of the global economy in the first half of the year led to a sharp rise in credit losses, and interest rate cuts reduced sales in interest rate sensitive sectors. “

British airline Easyjet (EZJ.L, 947.20 pence) reported a 337% surge in bookings from the UK within hours of government announcements about reopening the economy thanks to the ebb of the virus. Easyjet also notes in its press release published late Monday evening that reservations for stays have soared by 630% compared to recent weeks thanks to customers who want to “make up for lost time”. The British Prime Minister, Boris Johnson, said Monday to aim for a return to almost normal for the summer, by presenting a deconfinement strategy that he wants “prudent”, but “irreversible” and which will begin with the reopening of schools in early March. Shares in the travel sector were up sharply on the London Stock Exchange on Tuesday in the wake of the announcements.


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