CPFL, Eletrobras, Socotherm Americas, SQM: Latin Equity Preview

By William Freebairn and James Attwood

Aug. 13 (Bloomberg) -- The following companies may have unusual price changes in Latin America trading. Stock symbols are in parentheses, and share prices are from the previous close. Preferred shares are usually the most-traded class of stock in Brazil.

The MSCI Latin America Index fell 1.3 percent to 3,882.89.

Argentina

Socotherm Americas SA (STHE AF): The Buenos Aires-based oil and natural gas pipe-coating company signed a preliminary agreement to coat pipes for a unit of Exxon Mobil Corp. in Angola. Socotherm signed a letter of intent with Esso Exploration Angola (Block 15) for a $19.5 million contract to coat 142 kilometers (88 miles) of steel pipes, the Buenos Aires-based company wrote in a statement posted on the stock exchange yesterday. Socotherm fell 9.4 percent to 11.05 pesos.

Brazil

CPFL Energia SA (CPFE3 BS): Brazil's largest private-sector power supplier said second-quarter profit fell 11 percent to 329 million reais ($202.9 million) from a year earlier as the government reduced electric rates. Results missed the 338 million reais average estimate of four analysts surveyed by Bloomberg News. Net sales rose 3.9 percent to 2.31 billion reais, the company said in a statement to Brazil's securities regulator yesterday. CPFL fell 1.8 percent to 33.73 reais.

Cia. de Transmissao de Energia Eletrica Paulista (TRPL4 BS): The electricity distributor in Brazil's richest state named Marcio Lopes Almeida chief financial officer, it said in a regulatory filing yesterday. CTEEP fell 2 percent to 49.06 reais.

Centrais Eletricas Brasileiras SA (ELET6 BS): Latin America's largest utility said it had second-quarter consolidated net profit of 142.8 million reais, or 13 centavos a share, compared to a loss of 14 centavos a share a year earlier. The government-controlled utility announced quarterly results in a statement e-mailed yesterday. Eletrobras, as the company is known, fell 1.5 percent to 24.15 reais.

Chile

Sociedad Quimica y Minera de Chile SA (SQM/B CC): Chile's biggest fertilizer maker said second-quarter profit more than doubled as higher prices for crop nutrients increased revenue. Net income rose to $125.7 million from $51 million a year earlier, the Santiago-based company said in a statement distributed yesterday. That beat an average estimate of $104.5 million from three analysts surveyed by Bloomberg News. SQM rose 0.3 percent to 16,792 pesos.

To contact the reporters on this story: William Freebairn in Mexico City at wfreebairn@bloomberg.net; James Attwood in Santiago at jattwood3@bloomberg.net.