Brazilian Stocks Movers: Marfrig, OGX, Diagnosticos da America

The following companies had unusualprice changes in Sao Paulo trading. Stock symbols are inparentheses, and prices are as of the close. Preferred sharesare usually the most-traded class of stock.

The Bovespa (IBOV) Index dropped 2.3 percent to 56,237.97.

Marfrig Alimentos SA (MRFG3) (MRFG3 BS) rose 5.3 percent to 9.62reais, the biggest gain on the Bovespa. Ricardo Florence, theinvestor relations director at Latin America’s third-largestmeat producer, stated rising beef demand is prompting the companyto open this quarter three of nine factories it had shut down.The company reported yesterday that net income rose to 34.5million reais ($17 million) in the first quarter from 23.5million a year earlier.

OGX Petroleo e Gas Participacoes SA (OGXP3 BS), the oilcompany controlled by Brazilian billionaire Eike Batista, fell7.8 percent to 12.03 reais, the lowest in seven months, afterreserve estimates at its first development fell short ofinvestors’ expectations.

Diagnosticos da America SA (DASA3 BS), known as Dasa, rose0.9 percent to 13.95 reais, after reporting first quarterrevenues rose 10 percent to 557 million reais over the sameperiod in 2011.

MRV Engenharia (MRVE3) & Participacoes (MRVE3 BS) and PDG Realty (PDGR3) SAEmpreendimentos & Participacoes (PDGR3 BS) led a plunge inBrazilian real-estate companies after reporting first-quarterprofit that fell more than forecast. MRV lost 15 percent to 9.43reais. PDG, the country’s largest homebuilder by sales, fell 9.8percent to 3.67 reais.

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Submited at Tuesday, May 15th, 2012 at 10:59 pm on Uncategorized by natalia
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