Brazilian Stock Movers: Gerdau, Lupatech, Marisa, Odontoprev

The following companies had unusual price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as of 4:15 p.m. New York time. Preferred shares are usually the most-traded class of stock.

The Bovespa Index lost 1.1 percent to 63,615.50.

Gerdau SA (GGBR4) (GGBR4 BS) fell 1 percent to 17.72 reais. Latin America’s largest steelmaker had its 12-month price estimate lowered to 22 reais from 27 reais by Goldman Sachs Group Inc., which said it was “cautious on steel” in a May 3 research report.

Lupatech SA (LUPA3) (LUPA3 BS) tumbled 8.5 percent to 9.99 reais, the largest decline since July 2009. Brazil’s biggest provider of oil equipment and services had a first-quarter net loss of 8.9 million reais ($5.5 million), according to a statement on its website yesterday.

Marisa Lojas SA (AMAR3) (AMAR3 BS) declined 4 percent to 28.55 reais. The apparel retailer’s first-quarter expenses on bad consumer debt jumped 61 percent from a year earlier to 29.7 million reais ($18.5 million), according to a regulatory filing yesterday after the market closed. That prompted Raymond James & Associates Inc. to cut its rating to “market perform” from “outperform.”

Multiplus SA (MPLU3) (MPLU3 BS) rose 2.3 percent to 32.88 reais. The frequent-flyer unit of Brazilian airline Tam SA said first- quarter profit jumped more than ninefold from a year earlier to 70.9 million reais, according to a regulatory filing.

Odontoprev SA (ODPV3) (ODPV3 BS), Brazil’s largest provider of dental-care plans, gained 2.7 percent to 26.95 reais while bus manufacturer Marcopolo SA (POMO4) (POMO4 BS) climbed 2.4 percent to 6.96 reais. The companies are among 27 from Brazil and China that meet the acquisition criteria listed in Warren Buffett’s annual report, according to data compiled by Bloomberg.

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

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