Jan. 26 (Bloomberg) -- The following companies had unusual price changes in Sao Paulo trading. Stock symbols are in parentheses. Preferred shares are usually the most-traded class of stock.
The Bovespa stock index slipped 1 percent to 68,709.22.
Direcional Engenharia SA (DIRR3 BS), a Brazilian homebuilder, dropped 1.8 percent to 13.74 reais. The company and its shareholders may raise as much as 528.8 million reais in a sale of as many as 37.8 million new voting shares. The company and its shareholders may raise that amount based on yesterday’s share price of 13.99 reais.
JBS SA (JBSS3 BS) dropped 3.4 percent to 6.75 reais. The world’s biggest beef producer told Sara Lee Corp. that it plans to make a takeover offer of about $21 a share, according to two people with knowledge of the matter.
Usinas Siderurgicas de Minas Gerais SA (USIM5 BS) dropped 3 percent to 18.91 reais. Brazil’s second-largest steelmaker faces a “perfect storm” of lower sales, declining prices in the local currency and higher-than-expected costs, Banco Santander SA said in a note to clients.
To contact the reporter on this story: Alexander Ragir in Rio de Janeiro at firstname.lastname@example.org
To contact the editor responsible for this story: David Papadopoulos at email@example.com