March 4 (Bloomberg) -- The following stocks may make significant gains or losses in Latin American markets today. Stock symbols are in parentheses after company names. Prices are from the last session.

Argentina

Tenaris SA (TS AR): Tenaris, the world's biggest supplier of seamless steel pipes to the oil and gas industry, said its fourth- quarter profit fell to $13.7 million from $52.6 million a year earlier. Its share price yesterday fell 50 centavos, or 4.7 percent, to 10.10 pesos, its biggest drop in three weeks.

Brazil

Cia. de Bebidas das Americas (AMBV4 BS): Preferred shares of AmBev, as the Brazilian brewer is known, declined to a four-month low, after Belgium's Interbrew SA agreed to buy control of the Brazilian company to form the world's second-largest brewer. On the agreement, AmBev said will issue 9.5 billion common shares and 13.8 billion preferred ones to take Interbrew's North American unit Labatt. The preferred share fell 114.01 reais, or 15 percent, to 647.99 reais.

Chile

Lan Chile SA (LAN CC): Chile's biggest airline said this week that its fourth-quarter profit more than doubled to $35.3 million from the same period a year earlier, after higher passenger traffic boosted sales. Lan Chile yesterday rose 50 pesos, or 2.2 percent, to 2,300 pesos, its highest level since at least 1994, according to data compiled by Bloomberg.

Colombia

Bavaria SA (BAVAR CB): Belgian-based Interbrew SA agreed to buy control of Brazil's Cia. de Bebidas das Americas to create the world's second-largest beermaker, in a new challenge to Bavaria's plans to expand in Latin America. Bavaria shares fell 100 pesos, or 0.6 percent, to 16,900 pesos.

Almacenes Exito SA (EXITO CB): Colombia's largest retailer may decline as investors bet its 58 percent gain this year has outstripped its earnings growth potential, said traders such as Manuel Pineda of Profesionales de Bolsa SA brokerage in Medellin. The share price declined 150 pesos, or 2.7 percent, to 5,350 pesos.

Mexico

America Movil SA (AMXL MM): Gerardo Lozoya, who helps manage $450 million in stocks and bonds with Investra Consultores SA in Monterrey, said Latin America's largest mobile telephone company is one of the most attractive stocks in Mexico stock market, despite yesterday's decline as investors pocketed previous gains. The stock fell 6 centavos, or 0.3 percent, to 20.02 pesos.

Empresas ICA Sociedad Controladora SA (ICA* MM): Mexico's largest builder may rise after investors such as Lozoya expect the company will benefit from road construction programs from the government. The stock fell 12 centavos, or 3.3 percent, to 3.53 pesos.

Peru

Southern Peru Copper Corp. (PCU/C PE): Peru's biggest copper miner may rise after the Energy and Mines Ministry said the company's copper production rose 17 percent in January to 30,850 metric tons from the same period a year ago. The stock fell 93 U.S. cents, to 2.4 percent, to $38.

To contact the reporters on this story: Telma Marotto in Sao Paulo at tmarotto1@bloomberg.net; Inti Landauro in Lima at ilandauro@bloomberg.net.

Last Updated: March 4, 2004 06:15 EST