Four Emerging Market ADRs Outperform
The other gainer this week is India's Patni Computer Systems (PTI) which develops software and provides information technology services and business solutions. The stock is up 3.6% this week on reports that the company is mulling a majority stake sale potentially worth $1 billion. Potential suitors include Japan's NTT Data Corp, Fujitsu and the IT arm of India's Larsen and Toubro.
Last week, the company reported a two-fold jump in its net profit to $33.3 million for the first quarter of 2010, on revenue growth of 10.0% year over year to $172.31 million. Among the significant ADR losers this week was Chinaâ¿¿s solar energy pack. Stocks including, Solarfun Power Holdings (SOLF), LDK Solar (LDK) and Trina Solar (TSL) lost 23.1%, 24.6% and 26.1%, respectively.
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