Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Rossi Residencial Sinks After Reporting Drop in Contracted Sales

Don't Miss Out —
Follow us on:

July 12 (Bloomberg) -- Rossi Residencial SA, Brazil’s sixth-biggest homebuilder by market capitalization, tumbled after reporting contracted sales fell 24 percent in the second quarter.

Rossi lost 7 percent to 3.99 reais in Sao Paulo, extending a four-day drop to 22 percent. The benchmark Bovespa index fell 0.3 percent today.

“Rossi’s figures were weak and should reinforce our more conservative stance on the stock,” Credit Suisse Group AG equity analysts including Guilherme Rocha wrote in a note to clients. “Rossi should face a challenging scenario in the short term consisting of contracting margins and potential execution risks on the back of a high volume of units to be delivered.”

To contact the reporter on this story: Denyse Godoy in Sao Paulo at dgodoy2@bloomberg.net

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

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.