After a disappointing 3Q earnings announcement and a lackluster Investor Day, Embraer (ERJ, quote) may be shaping up for a good “trade”, and remains one of the highest quality companies in the world.
Petrobras (PBR, quote) stock on the move after earnings slump on higher import fuel costs. The stock has rocketed through the 200 day moving average this morning and hasn’t seen this type of strength through that average since January of 2012.
Recent polls out of Sao Paulo show that only 30% vs. 51% in last survey intend to vote for President Dilma’s in the Oct 2014 elections which suddenly are looming.
Last week, Emerging Market Equity Fund Flows were down for the 4th straight week with the largest outflows seen since the August 2011 bloodbath.
In Brazil they just conducted a swap operation to try and support t the currency as the Brazilian real moved to 2.16 intra-day lows before the operation.