Bloomberg News

Brazilian Stock Movers: CPFL Energia, Embraer, Hypermarcas

November 07, 2011

Nov. 7 (Bloomberg) -- The following companies are having unusual price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as of 12:25 p.m. local time. Preferred shares are usually the most-traded class of stock.

The Bovespa index rose 1 percent to 59,254.35.

CPFL Energia SA (CPFE3 BS) rose 3.3 percent to 22.42 reais. The utility was rated “outperform” as Banco Itau BBA SA resumed coverage, according to a research note. The 2012 share- price forecast is 29 reais and the stock was included in the bank’s top-pick list, Itau BBA said.

Embraer SA (EMBR3 BS) gained 1.7 percent to 11.78 reais. The world’s fourth-largest aircraft maker said it received 10 firm orders for its Embraer 190 and Embraer 195 jets from CIT Group Inc. Separately, Chief Executive Officer Frederico Curado said a bribery investigation by the U.S. Securities and Exchange Commission won’t hinder its bid for a $950 million contract with the U.S. Department of Defense, Folha de S.Paulo reported, citing an interview.

Hypermarcas SA (HYPE3 BS) slid 7.7 percent to 7.75 reais. The consumer-goods company posted a third-quarter loss of 190.5 million reais ($109 million), larger than forecast by analysts, and cut its guidance for full-year earnings before interest, taxes, depreciation and amortization by 22 percent to 700 million reais.

--Editor: Brendan Walsh, Marie-France Han

To contact the reporter on this story: Alexander Cuadros in Sao Paulo at acuadros@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


Monsanto vs. GMO Haters
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus