Brazilian Stock Movers: CPFL Energia, Embraer, Hypermarcas
The following companies had unusual price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as of the close. Preferred shares are usually the most-traded class of stock.
The Bovespa index rose 0.9 percent to 59,198.77.
CPFL Energia SA (CPFE3) (CPFE3 BS) rose 4.1 percent to 22.60 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) (EMBR3 BS) gained 3.2 percent to 11.95 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) (HYPE3 BS) slid 8.6 percent to 7.68 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.
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