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  • Pierre Fournier

Prof. Fournier Press Review: November 1 – November 5

By: Pierre Fournier

Agenda: Pfizer, Cenovus Energy, Hexo, Finnair, Molson Coors, Hertz & Tesla.

Pfizer continues to be a leader for the COVID-19 vaccine. According to Yahoo, American pharmaceutical company Pfizer has announced excellent news. Indeed, Pfizer is adjusting its annual revenue forecast upwards for its vaccine against COVID-19. The name of their vaccine is Comirnaty and the demand for this vaccine is very high outside of the United States. This announcement confirms Pfizer's leadership position in terms of a solution to the pandemic. This vaccine is developed in partnership with the German-born company BioNTech. For the year 2021, forecasts around the world seem to be very optimistic about the delivery of 2.3 billion vaccines.

Excellent results and increased dividend for the oil company Cenovus Energy. According to Energynow, Calgary-based Cenovus Energy has announced great news for its shareholders. In fact, following the disclosure of its third-quarter financial results, Cenovus announces that its dividend will double and that revenues for the quarter are $ 12.7 billion, a drastic increase from its previous year’s revenue of $ 3.7 billion. These excellent results were anticipated by shareholders given the increase in the price of oil over the past year.

Change in senior management at Hexo. Considering Canadian Cannabis-maker Hexo's problems that have already endured more than a year, the company's board of directors has decided to effect a change in senior management. Indeed, Hexo has announced the departure of its Co-Founder and CEO, Sébastien St-Louis. The company’s justification for Mr. St-Louis's departure is part of their new strategy to reorganize the company. According to a Hexo press release, the company also announced the resignation of its Chief Operating Officer, Donald Courtney, who will stay with Hexo until a replacement is found. In the last few years, Hexo’s growth strategy was to increase its acquisitions and to reach this goal, the company made several acquisitions including deals to buy out Redecan, 48North Cannabis and Zenabis Global. Unfortunately, despite these acquisitions, the company did not become profitable.

Finnair anticipates better profits in 2022. According to AerotimeAero, the Finnish airline company Finnair announces a decrease in its financial losses, which is linked to the coronavirus crisis, where these negative impacts are most significant in Asia. Finnair, whose business model is based on designing Europe-Asia routes, was particularly affected by the pandemic in March 2020, which led to several cancellations of flights, especially in China before hitting Europe hard and causing severe travel restrictions everywhere in the world. The good news is that Finnair anticipates that Asia will open up more to travellers in early 2022, which should have a positive impact on Finnair's next quarterly results and thus offer more destinations for Finnair customers.

The reopening of the economy has been good news for Molson Coors. According to Infotel, the reopening of bars and brasseries has benefited Molson Coors. Indeed, the brewer Molson Coors posted higher revenues for its third quarter. Two other factors that have contributed to the increase in the brewer's revenue include the rise in the prices of its products and the offering of a product that meets the needs of its customers very well.

Hertz will offer Tesla vehicles. The American company Hertz, which specializes in vehicle and truck rental, announces the objective of offering its customers the option of renting electric vehicles. According to Fortune, in order to achieve this goal, Hertz plans to order 100,000 vehicle units from Tesla. The deadline that Hertz has set for achieving this goal is before the end of 2022. From the beginning of November, it will be possible for Hertz customers to rent the Tesla Model 3, and this option will be available for a few Hertz branches located in the United States and Europe.


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