Thunderous Week for EM ADRs
Another boomer that has surged close to 100% within the past one month or so is Spreadtrum Communications (SPRD). The fabless semiconductor company continued its strong run this week as well, piling on another 20.6%. The stock witnessed a host of rating revisions over the week in view of the bullish sentiment for the ticker.
Indian ADRs were not far behind. The entire IT pack comprising Satyam Computer Services (SAY) (+10.9%), Cognizant Technology Solutions (CTSH) (+8%), Wipro (WIT) (+7.6%), iGate Corp (IGTE) (7%), and Infosys Technologies (INFY) (+5%) registered impressive gains.
Indian mining major Sterlite Industries' (SLT) stock was up 7.8% during the week. The stock closed 6% higher in trade on the Indian market on Friday.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV