Brazilian Stock Movers: Hypermarcas, MRV Engenharia, Souza Cruz

The following companies are having unusual price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as of 10:03 a.m. New York time. Preferred shares are usually the most-traded class of stock.

The Bovespa Index fell 0.1 percent to 64,332.32.

Hypermarcas SA (HYPE3) (HYPE3 BS) plunged 8.7 percent to 18.49 reais. The consumer-goods company tumbled after it said that first-quarter net income fell 40 percent from a year earlier to 32.9 million reais ($20.4 million). The average estimate of eight analysts surveyed by Bloomberg was for net income excluding some items of 129.3 million reais.

MRV Engenharia & Participacoes SA (MRVE3 BS) advanced 1.8 percent to 13.54 reais. It led gains by homebuilders as traders pared bets for higher borrowing costs in Brazil, boosting the outlook for companies that depend on credit growth.

OGX Petroleo & Gas Participacoes SA (OGXP3 BS) rose 0.5 percent to 14.78 reais. The oil company controlled by billionaire Eike Batista posted a first-quarter net loss of 33.9 million reais. A year earlier, the net loss was 56.9 million reais, OGX said in a regulatory filing May 6.

Souza Cruz SA (CRUZ3) (CRUZ3 BS) climbed 1.6 percent to 18.65 reais. Brazil’s biggest tobacco company reported first-quarter net income of 415 million reais, a 24 percent increase from a year earlier, according to a statement on the company’s website.

To contact the reporter on this story: Ney Hayashi in Sao Paulo at ncruz4@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos in New York at papadopoulous@bloomberg.net

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