Brazilian companies from JBS SA to Banco do Brasil SA are planning to buy back 2.4 billion reais ($1.2 billion) of stock, the most among the world’s four largest emerging economies, after shares faltered and earnings disappointed investors.
Multiplus SA, the frequent-flier unit of Latam Airlines Group SA’s Brazil subsidiary, rallied after the stock was raised to the equivalent of a buy at Raymond James & Associates Inc. on a stronger U.S. dollar.
BRF - Brasil Foods SA, the world’s largest poultry exporter, dropped the most in two months in Sao Paulo after fourth-quarter profit missed analyst estimates because of a one-time tax expense and higher costs.
Cia. Brasileira de Distribuicao Grupo Pao de Acucar , Brazil’s biggest retailer, posted the steepest two-day drop in four months as a dispute between its controllers spurred Raymond James & Associates Inc. to cut its rating.
BRF - Brasil Foods SA, the world’s largest poultry exporter, fell to the lowest in more than six months after a Brazil antitrust commissioner said the $3.8 billion deal should be blocked as it has too much market share.
Natura Cosmeticos SA , Brazil’s biggest cosmetics maker, rose after Raymond James & Associates Inc. increased its profit forecast for the company, citing disappointing results at competitor Avon Products Inc.