Action titles: Broadcom. Royal Bank, TD Bank, CIBC

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

(Come back to read us occasionally
so as not to miss an update)

Broadcom (semiconductors) bought VMware for US $ 61 billion

New York, – The American semiconductor manufacturer Broadcom (AVGO, US $ 540.71) will take over software and remote computing company (cloud) vmware (VMW, US $ 121.43) worth US $ 61 billion in the deal, according to a statement released Thursday.

Broadcom offers VMware shareholders to receive US $ 142.50 per share, or 0.2520 Broadcom share per VMware share. The cash value represents a premium of 49% compared to the closing price on Friday, before the first rumors of the acquisition were published in the press.

Royal Bank: net income of $ 4.3 billion in 2nd quarter

Ang bank maharlika ng Canada posted net income of $ 4.3 billion in the quarter ended April 30, up $ 238 million, or 6%, from the second quarter of fiscal 2021. The institution also reports diluted revenue growth per quarter of 7 % over the same period, reaching $ 2.96 this year.

Personal and Commercial Banking alone generated net revenue of $ 2,234 billion, up $ 326 million, or 17%, from the second quarter of 2021, mainly due to lower staffing in the provision for credit losses. On the other hand, the Capital Markets sector recorded net income of $ 795 million, down $ 276 million, or 26%, compared to the corresponding period last year.

Separately, Royal Bank’s board of directors declared a quarterly dividend increase on its common stock of $ 0.08 per share, or 7%, to $ 1.28 per share. TD Bank Group’s net income increased in the second quarter of the current financial year compared to the corresponding period of 2021.

From $ 3,695 billion, or $ 1.99 per diluted part, it became $ 3,811 billion, or $ 2.07 per diluted part. As for adjusted net income, it dropped over the same period by $ 3,775 billion, or $ 2.04 per adjusted share, to $ 3,714 billion, or $ 2.02 per adjusted share.

TD Bank Group: increase in net income in the 2nd quarter

banda bank TD reported that net income of the Canadian Retail segment was $ 2.236 billion, up 2% from the second quarter last year, while meanwhile, net sales revenue of the US Retail segment was C $ 1,367 billion, an increase of 4%.

Bharat Masrani, Group President and CEO of TD Bank Group, said he has seen strong revenue growth in the institution’s businesses. He said TD will continue to invest in technology and innovation to shape the future of banking. In addition, TD Bank Group is announcing a dividend of $ 0.89 per common share for the quarter ending July 31.

CIBC experienced a one -year decline of 8% in its net income in the second quarter, falling from $ 1,651 billion to $ 1,523 billion. Diluted earnings per share dropped 9%, from $ 1.78 to $ 1.62. The decrease was lower for adjusted net income, which dropped from $ 1,666 billion to $ 1,652 billion, or 1%. Per share, adjusted earnings became $ 1.77 from $ 1.79.

CIBC: 8% decrease in net income in 2nd quarter

Ang bank CIBC explained that its results for the second quarter of the current financial year were affected by the payment of $ 106 million in connection with the acquisition of Canadian credit card portfolio Costco, a $ 45 million increase in provisions for legal proceedings and an amount of $ 24 million for the amortization of intangible assets in connection with the acquisitions.

CIBC’s Canadian Small Business and Personal Banking segment reported net income of $ 496 million in the second quarter, down $ 107 million, or 18%, from the same period in 2021, mainly due to higher provision for credit losses and higher costs, partially compensated by higher income. CIBC President and CEO Victor G. Dodig said the institution still generated well-diversified growth in the second quarter.

CIBC also announced an increase in its quarterly dividend from $ 0.805 to $ 0.830 per common share for the quarter ending July 31.

Leave a Comment