...John Molson School of Business, Concordia ACCO 310: Section AA Fall 2012 Annual Report Project Husky Energy Inc. Vs. Suncor Energy Inc. Presented by: Brittany Weekes - 6323677 Victoria Zillic - 9235477 Kwun Chung - 6290337 Ye Zhang - 5894352 Submitted to: Professor M. Sellors Date: November 27, 2012 Table of Contents Introduction 1 The Companies 2 Husky Energy Inc. 2 Investments 2 Suncor Energy Inc. 3 Investments 3 The Industry 4 Stock Performance 6 Ratio Analysis 8 Risk Factors 10 Commodity price risk 10 Regulatory risk 10 Sovereign risk 11 Earnings per Share (EPS) 12 Conclusion 14 References 16 Appendices 17 Appendix 1: Husky's Production - December 31st, 2011 17 Appendix 2: Suncor's Production – December 31st, 2011 18 Appendix 3: Ratio Interpretation 19 Appendix 4: Husky’s Basic EPS – December 31st, 2011 20 Appendix 5: Suncor’s Basic EPS – December 31st, 2011 20 Appendix 6: Husky's Financials 21 Appendix 7: Suncor's Financials 24 Introduction The purpose of this report is to carry out a financial analysis on Husky Energy Inc. and Suncor Energy Inc, to determine which of these two companies make up the appropriate energy-related exposure for our client’s stock portfolio. Thus, a financial analysis evaluation will be presented for the above mentioned companies as well as a reasoned investment recommendation to support our proposal. Acting as financial analysts, our team will reveal the macro and micro...
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...Husky Energy Inc; Foreign Exposure, Portfolio Analysis Phillip Oliveira Sheridan College FINA30065 March 22, 2015 Husky Energy; Foreign Exchange Exposure Husky Energy is Canadian, vertically integrated oil and gas retailer, operating “555 gas stations in Canada” (Hoover’s Inc, 2015), along with oil refining operations in the Canadian oil sands and off-shore Newfoundland and Labrador refineries. They are also operating the Liwan Gas Project, which consists of a 40% “working interest in the Wenchang oil field in the South China Sea”. (Husky Energy Inc., 2015) They are also planning further offshore developments in Indonesia. Husky itself, is actually controlled by Hutchison Whampoa Lmt, a Chinese investment holding company. (Hoover’s Inc, 2015) While Husky is an international oil extraction company. As the majority of Husky’s operations are located in Canada, it is primarily a Canadian company. Its operations in both China and Indonesia though, it faces exchange rate exposure from both the Chinese Yuan and the Indonesian Rupiah. This is because it currently owns a 40% stake in the Chinese Wenchang oil field extraction operation, and has plans to develop oil fields in Indonesia. Assuming that local Chinese labour will be used for the construction and operation of these facilities, all labour cost will be incurred in local currencies. Also, it can be assumed that materials suppliers and contractors will be acquired from local suppliers in order to cut down on transportation...
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...stock versus their competitors 5 BMO 5 Husky Energy 6 Rogers 7 BlackBerry 8 Google 9 Why each stock in the portfolio increased or decreased in price 10 BMO 10 Husky Energy 10 Rogers Communication 10 BlackBerry Limited 11 Google 11 Final value of each stock and compare to your original cost per share. Holding period return 11 BMO 11 Husky Energy 12 Rogers Communications Inc. 12 BlackBerry Ltd 13 Google 13 Weekly price table and a graph for each. 14 BMO 14 Husky Energy 14 Rogers Communications 14 Total return for group’s portfolio. 16 Bibliography 18 Portfolio Portfolio as date of purchase of February 5th, 2015 Company Name | Stock Symbol | # of Shares | Exchange Rate | Price | Price in CDN | Commission | Total Cost | Bank of Montreal | BMO.TO | 259 | 1 | $76.91 | $76.91 | $20.00 | $19,939.69 | Husky Energy | HSE.TO | 710 | 1 | $28.13 | $28.13 | $20.00 | $19,992.30 | Rogers Communication Ltd | RCI-B.TO | 444 | 1 | $45.00 | $45.00 | $20.00 | $20,000.00 | BlackBerry | BB.TO | 1595 | 1 | $12.52 | $12.52 | $20.00 | $19,989.40 | Google | GOOG.Q | 47 | 0.80 | $527.58 | $422.06 | $20.00 | $19,857.01 | | | | | | | | | Portfolio Total | | | | | | | $99,778.40 | Date of sale of portfolio as of April 2nd, 2015 Company Name | Stock Symbol | # of Shares | Exchange Rate | Price | Price in CDN | Commission | Total Cost | Bank of Montreal | BMO.TO | 259 | 1 | $76.40 | $76.40 | $20.00 | $19,807.60 | Husky Energy | HSE.TO | 710 | 1 | $26.62 | $26.62...
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...their daily energy needs. From a toddler playing with his plastic toys to an old man with his hearing aid; everyone has some sort of dependency on the oil industry. This is due to the fact that many household items are either...
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...Shipbuilders * Alta Newspaper Group * Alterra Power * Angoss Software Corporation (software) * Appnovation * Arc'teryx (outdoor apparel/equipment) * Atimi Software Inc * Aritzia (clothing) * Army & Navy Stores (Canada) * Arsenal Pulp Press (publisher) * ATI technologies (semiconductors) * Atmosphere Visual Effects (movie special effects) * AVI Sound International (audio/visual equipment manufacture) B * Ballard Power Systems * Banff Lodging Co * Bank of Montreal * Bank West * Barrick Gold * Bard Ventures Company * BBC Kids (television) * BC Biomedical Laboratories Ltd. * BC Hydro * BC Research Inc * Becancour Silicon (silicon manufacture) * Bell Canada * Bennett Environmental * Becker's * Ben Moss Jewellers * Big Blue Bubble (software firm) * BigPark (software firm) * Biovail * BioWare (video games) * Bison Transport Inc. (Transportation) * Black Diamond Cheese Limited * Black Hen Music (record label) * Black Photo Corporation * BlackBerry (wireless devices) * Blake, Cassels & Graydon (law firm) * Blackburn Radio * Bleeding Art Industries (special effects) * Blenz Coffee * Blue Water Studios (recording studio) * Bombardier Inc. * Bombardier Recreational Products spun off as an independent company in 2003 * Boeing Canada * Boston...
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...The ABC’s of Failure – Getting Rid of the Noise in Your System For the past 40 years, I have observed many companies, including DuPont (where I spent 27 years) pursuing planned maintenance with the standard tools of planned maintenance: inspections, planning, scheduling, materials procurement, CMMS systems, etc. with the same results. They succeed for a while and get their percent planned and scheduled maintenance up to the 80+ only to see that drop back later to 60 I am amazed how many of the companies we work with have had this experience. This pattern of behavior has led us to conclude that the reason for this experience is that only 60% of the normal work of maintenance is inherently plannable. The rest of the work is created by random acts of what we are now calling care-lessness. The sites where we see people break this pattern and achieve 92% to 96% planned maintenance for the long term without regressing, are the ones who eliminate the inherently unplannable work. Of course, this cannot be done by maintenance alone. Everyone who does work at a site contributes to the defects that create the unplannable work, and therefore everyone must participate in eliminating the defects that create the 40% of the work that is unplannable. In the diagram below we attempt to more clearly articulate the true significance of Defect Elimination by outlining the ABC’s of failure. Fundamentally, failures happen because things that exist are not perfect. To reduce failures we must eliminate...
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...America. The company has it’s headquarter at the Georgia, in Greater Atlanta. Home Depot Canada is the Canadian unit of the Home Depot and one of Canada's top home improvement retailers. The Canadian operation consists of 180 stores and employs over 35,000 people in Canada. Home Depot Canada has stores in all ten Canadian provinces and serves territorial Nunavut, Northwest Territories, and Yukon through electronic means (Online sales). SWOT ANALYSIS Exhibit 1 Exhibit 1 shows the internal and external factors affecting the market opportunities for the Home Depot. Stated briefly, this SWOT analysis highlights the great strides taken by the company in this demographic market. According to the company internally favor are its strength of an energy saving products, board of directors, excellent acceptance of the lines in the three metropolitan markets in which it competes, and a strong manufacturing and distribution system to serve these markets. Favorable external factors (opportunities) include the increasing appeal of the strength of the upscale market for the company products and technological breakthrough that makes it easier for customer to do-it-yourself. The strength of the home depot lies in the brand image whereas the weakness lies in the price effectiveness of the product. Many key factors are considered effective to deal with the strong competitor in the home improvement industry such as low prices of the product, brand reputation, executive management, technology, supply...
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...10 Largest Stock Exchanges from Asia, Europe, Africa and America: 1. Asia: i. Bombay Stock Exchange: The Bombay Stock Exchange is the oldest exchange in Asia. It traces its history to the 1850s, when four Gujarati and one Parsi stockbroker would gather under banyan trees in front of Mumbai's Town Hall. The location of these meetings changed many times, as the number of brokers constantly increased. The group eventually moved to Dalal Street in 1874 and in 1875 became an official organization known as 'The Native Share & Stock Brokers Association'. In 1956, the BSE became the first stock exchange to be recognized by the Indian Government under the Securities Contracts Regulation Act. The Bombay Stock Exchange developed the BSE SENSEX in 1986, giving the BSE a means to measure overall performance of the exchange. In 2000 the BSE used this index to open its derivatives market, trading SENSEX futures contracts. The development of SENSEX options along with equity derivatives followed in 2001 and 2002, expanding the BSE's trading platform. The equity market capitalization of the companies listed on the BSE was US$1 trillion as of December 2011, making it the 6th largest stock exchange in Asia and the 14th largest in the world.[1] The BSE has the largest number of listed companies in the world. As of December 2011, there are over 5,112 listed Indian companies and over 8,196 scrips on the stock exchange,[3] the Bombay Stock Exchange has a significant trading volume...
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...ANNUALREPORT2009 Dear Shareholders: In 2009, our comp sales declined by 6.6 percent, with total sales down 7.2 percent. Earnings per share from continuing operations were up 13.1 percent from last year, but on an adjusted basis declined 6.7 percent. At the end of 2008, the U.S. economy was in the most severe recession it has experienced since the great depression. We planned for this tough economic environment, and we executed well against our plan, exceeding the sales and earnings targets we set forth at the beginning of the year. We gained over 100 basis points of U.S. market share in 2009, a notable accomplishment on a base of fewer stores. We saw sequential improvement in our performance during the year and exited the year with a positive comp in the fourth quarter. We also saw signs of stabilization in some key macroeconomic indicators, such as Private Fixed Residential Investment as a percent of GDP. In Canada, the demand for home improvement products is showing improvement. And our Mexican team delivered positive comps for the year in a very tough economic environment. As we look to 2010, we believe we will see modest economic recovery in the markets we serve and expect our performance to continue to improve as the economy undergoes a steady, though slow, recovery. As a company, we made significant progress against our strategic imperatives in 2009. We enhanced customer service in our stores, introduced new and innovative products with compelling values...
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...416-364-0193 E-mail: Jason Adlam Director, Sales and Customer Service CHEP Canada Inc. 7400 East Danbro Crescent Mississauga ON L5N 8C6 Phone: 905-789-4213 Fax: 905-789-4279 E-mail: Stephen Aikman Sr. Manager, Client Strategy RBC Royal Bank 320 Front Street West, 4th Floor Toronto ON M5V 3B6 Phone: Fax: E-mail: Thomas Aldred General Manager Schenker Logistics Inc. 1920 Albion Road Rexdale ON M9W 5T2 Phone: 416-798-8070 x235 Fax: 416-798-4416 E-mail: Desmond Ali Warehouse Manager USANA, Canada Co. 1 & 2 - 361 Rowntree Dairy Road Woodbridge ON L4L 8H1 Phone: 905-264-7549 Fax: 905-264-9873 E-mail: Sabina Ali Customs & Traffic Manager Conair Consumer Products, Inc. 100 Conair Parkway Woodbridge ON L4H 0L2 Phone: 905-265-4533 Fax: 905-265-4595 E-mail: Anthony Allwood President Systems Logic 4 - 62 Plant Farm Blvd. Brantford ON N3S 7W3 Phone: 519-758-5426 Fax: E-mail: Jay Amer VP, Business Development OEEDC - Greater Peterborough 210 Wolfe Street Peterborough ON K9J 2K9 Phone: 705-743-0777 x2125 Fax: 705-743-3093 E-mail: Jill Anderson Senior Managing Consultant IBM Canada 127 Wimbleton Road Etobicoke ON M9A 3S4 Phone: 416-567-2046 Fax: E-mail: Sandy Andrews Logistics Manager Tilley Endurables, Inc. 900 Don Mills Road North York ON M3C 1V6 Phone: 416-441-6141 Fax: 416-444-3860 E-mail: Robert Antenucci Director PowerStream Inc. 161 Cityview Blvd. Vaughan ON L4H 0A9 Phone: 905-532-4558 Fax: E-mail: Arthur...
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...C H A P T E R 7 Work-Related Stress and Stress Management Learning Objectives AFTER READING THIS CHAPTER , YOU SHOULD BE ABLE TO : I Define stress and describe the stress experience. I Outline the stress process from stressors to consequences. I Identify the different types of stressors in the workplace. I Explain why a stressor might produce different stress levels in two people. I Discuss the physiological, psychological, and behavioural effects of stress. I Identify five ways to manage workplace stress. S ylvia Noreen thought that working at a small hospital in Prince Edward Island would reduce the stress she had experienced as a nurse in Ontario for 17 years. Instead, she discovered that Stewart Memorial Hospital nurses in Tyne Valley also experience unacceptable stress levels due to budget cuts and staff shortages. “There can be a lot of demands made on you,” says Noreen. “The workload can get quite strenuous at times.” With no vacations during her first year at Stewart, Noreen’s scheduled days off were precious time to recharge her batteries. Unfortunately, those moments were fewer than she had hoped. “We’re faced with being called back on our days off,” Noreen says. “It is trying at times.” Canadian nurses and other health care workers are feeling some of the highest levels of stress and burnout of any occupation across the country. With Montreal-area emergency rooms filled to 167 percent, nurses at St. Luc Hospital in Montreal recently...
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... 6th Edition Instructor’s Manual Chapter 2 Suggested Solutions to Questions and Problems 1. P.V. Ltd. Income Statement for Year 2 Accretion of discount (10% × 286.36) $28.64 P.V. Ltd. Balance Sheet As at Time 2 Financial Asset Cash $315.00 Shareholders’ Equity Opening balance Net income Capital Asset Present value 0.00 $315.00 $315.00 $286.36 28.64 Note that cash includes interest at 10% on opening cash balance of $150. 2. Suppose that P.V. Ltd. paid a dividend of $10 at the end of year 1 (any portion of year 1 net income would do). Then, its year 2 opening net assets are $276.36, and net income would be: P.V. Ltd. Income Statement For Year 2 Accretion of discount (10% × 276.36) $27.64 Copyright © 2012 Pearson Canada Inc 11 Scott, Financial Accounting Theory, 6th Edition Instructor’s Manual P.V.’s balance sheet at time 2 would be: P.V. Ltd. Balance Sheet As at Time 2 Financial Asset Cash: (140 + 14 + 150) $304.00 Chapter 2 Shareholders’ Equity Opening balance: $276.36 (286.36 - 10.00 dividend) Capital Asset, at Present value 0.00 $304.00 $304.00 Net income 27.64 Thus, at time 2 the shareholders have: Cash from dividend Interest at 10% on cash dividend, for year 2 Value of firm per balance sheet $10.00 1.00 304.00 $315.00 This is the same value as that of the firm at time 2, assuming P.V. Ltd. paid no dividends (see Question 1). Consequently, the firm’s dividend policy does not matter to the shareholders under ideal conditions. It may...
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...Annual Review 2009 06 Our performance 08 Our market 10 Our strategy bp.com/annualreview Operating at the energy frontiers How a revitalized BP is driving efficiency, momentum and growth Meeting the energy demands of today and tomorrow Oil Natural gas Wind Solar Biofuels Efficiency BP Annual Review 2009 Reconciliation of profit for the year to replacement cost profit The Annual Review for the year ended 31 December 2009 includes the summary financial statement (on pages 1-7 and 10-33), which comprises summaries of the Directors’ Report and the Directors’ Remuneration Report and a summary of the information in the consolidated financial statements. The summary financial statement complies with the information requirements under the Companies (Summary Financial Statement) Regulations 2008. It does not contain sufficient information to allow as full an understanding of the results and the state of affairs of BP and of its policies and arrangements concerning directors’ remuneration as BP Annual Report and Accounts 2009. Shareholders may obtain a copy of BP Annual Report and Accounts 2009 online or on request, free of charge (see page 33). Outside the summarized financial statements (see pages 24-28), references within BP Annual Review 2009 to ‘profits’, ‘result’ and ‘return on average capital employed’ are to those measures on a replacement cost basis unless otherwise indicated. The table below reconciles profit for the year to replacement...
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...The Home Depot 2008 Annual Report Dear Shareholders: In 2008, our retail sales declined by 7.8 percent, with comp sales down 8.7 percent. Our adjusted earnings per share from continuing operations declined 22 percent. In ordinary times, these would be very disappointing results. But 2008 was not an ordinary year. Despite the difficult economic environment, we continued to improve our retail business, through investing in our associates and our stores, rebuilding our supply chain and improving customer service. We also made several strategic decisions to optimize our capital allocation, concentrating our efforts on our core business. In the first quarter, we closed 15 underperforming stores and reduced our pipeline of new stores by 50. In the third quarter, we renegotiated our private label credit card agreement, capping our cost of private label credit. In the fourth quarter, we announced our decision to exit EXPO and related businesses. These actions will make the Company stronger. On the financial side, we ended the year with a solid operating profit and $41 billion in assets. We generated cash from the business of approximately $5.5 billion, which allowed us to invest in the business where necessary and reduce our debt obligations while maintaining a healthy dividend. On the operational side, we implemented an “Aprons on the Floor” initiative, which deployed over $200 million in annualized savings onto the floor of the stores for customer service...
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...4 Main Idea • • • • • What is a main idea? What is a topic? How do you recognize the difference between general and specific ideas? What is a stated main idea? What is an unstated main idea? Everyday Reading Skills: Selecting a Book Copyright ©2010 by Pearson Education, Inc. 118 CHAPTER 4 Main Idea What Is a Main Idea? The main idea of a passage is the core of the material, the particular point the author is trying to convey. The main idea of a passage can be stated in one sentence that condenses specific ideas or details in the passage into a general, allinclusive statement of the author’s message. In classroom discussions, all of the following words are sometimes used to help students understand the meaning of the main idea. thesis main point central focus gist controlling idea central thought Whether you read a single paragraph, a chapter, or an entire book, many experts agree that your most important single task is to understand the main idea of what you read. Topic Main Idea Major Detail Major Detail Major Detail Minor Detail Minor Detail Minor Detail Minor Detail Minor Detail Recognize General and Specific Words The first step in determining the main idea of a selection is to look at the specific ideas presented in the sentences and try to decide on a general topic or subject under which you can group these ideas. Before tackling sentences, begin with words. Pretend that the sentence ideas in a selection have been reduced...
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