CPFL, Magnesita, Vitro and Credicorp: Latin Equity Preview

By [bn:PRSN=1] James Attwood [] and Alexander Ragir

Nov. 6 (Bloomberg) -- The following companies may have unusual price changes today 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.

Brazil's Bovespa Index futures dropped 2.1 percent to 37,650 at 7:56 a.m. in New York. The MSCI Latin America Index fell 5.3 percent yesterday to 2,249.03. Argentine markets are closed for a bank holiday.

Brazil

Cia. de Bebidas das Americas (AMBV4 BS): Latin America's biggest brewer reported third-quarter net income in the three months ended September surged to 949 million reais ($447 million), or 1.55 reais per share, AmBev, as the unit of InBev NV is known, said. Three analysts in a Bloomberg News survey forecast an average profit of 657 million reais.

CPFL Energia SA (CPFE3 BS): Third-quarter net income fell 21 percent to 339 million reais ($159 million) from 428 million reais a year earlier, Brazil's largest private-sector power supplier said. The median estimate of four analysts surveyed by Bloomberg was 303 million reais. The stock fell 6.1 percent to 30.69 reais.

Gol Linhas Aereas Inteligentes SA (GOLL4 BS): Brazil's second-biggest airline was raised to ``hold'' from ``sell'' at Citigroup Inc., which said the stock has been ``punished.'' Gol fell 5 percent to 9.17 reais.

Magnesita Refratarios SA (MAGG3 BS): Latin America's largest producer of specialty tiles used in steel blast furnaces said it plans to sell $228 million worth of new shares to boost its capital by 24 percent. The company will issue 23.4 million common shares, according to a regulatory filing. Magnesita fell 4.4 percent to 8.89 reais.

Marcopolo SA (POMO4 BS): The Brazilian maker of bus parts said it plans to buy back up to 1 percent of its outstanding preferred stock by Nov. 20. The company hired Banco Bradesco SA to handle the 4.8 million reais ($2.27 million) buyback. Marcopolo fell 8.7 percent to 3.87 reais.

MMX Mineracao e Metalicos SA (MMXM3 BS): The mining and pig- iron company controlled by billionaire Eike Batista plans to produce 200,000 metric tons a year of iron-ore from Chilean mines by 2011. The magnetite ore is of the type used by many Chinese steelmakers and can be shipped there more cheaply than from Brazil, Batista said yesterday in a Bloomberg Television interview. MMX rose 25 percent to 6.12 reais.

Tecnisa SA (TCSA3 BS): The Brazilian commercial and residential real estate developer plans to repurchase as much as 10 percent of its common stock, according to a note posted on the Web site of Brazil's securities regulator. Tecnisa fell 5.3 percent to 2.70 reais.

Cia. Vale do Rio Doce (VALE5 BS): Contract prices for benchmark Australian iron ore for the year starting April 1 may fall to 122.96 cents per dry metric ton unit, or about $78 a metric ton, from a record 144.66 cents, according to the median estimate of 11 analysts surveyed by Bloomberg News. Vale, the world's biggest producer of iron ore, fell 7 percent to 25.77 reais.

Mexico

Vitro SAB (VITROA MM): Mexico's largest glassmaker said it received $100 million from a development bank after placing its headquarters complex and another ``non-productive'' real estate asset in a trust for future sale. The $100 million is an initial payment under a trust structure that allows Vitro to gain access to cash immediately and divest the properties later when they may fetch a higher price, the company said. Vitro rose 2.6 percent to 7.08 pesos.

Peru

Credicorp Ltd. (BAP PE): Peru's largest financial-services company posted a 2.5 percent increase in third-quarter profit to $92.6 million on more lending. Net income was $1.16 per American depositary receipt compared with $90.3 million, or $1.13, a year earlier, Credicorp said. Credicorp was expected to earn $1.34, the average estimate of five analysts in a Bloomberg survey. The shares fell 2 percent to $42.45.

To contact the reporters on this story: James Attwood in Santiago at jattwood3@bloomberg.net; Alexander Ragir in Rio de Janeiro at aragir@bloomberg.net;