NEW YORK (
TheStreet) -- Several emerging market American depositary receipts managed to outshine indices across the world for the week up to Thursday.
Among China ADR gainers,
China Architectural Engineering
(CAEI) rose 41.9% during the past week after the company revealed it has completed a 60% ownership acquisition of Shanghai ConnGame Network in exchange for 25 million shares of the company's common stock.
(HOGS), a food processing company, rose 11.4%.
(HSW) gained 10.5%,
Guangzhou Global Telecom
(GZGT) was up 10% and
Qiao Xing Mobile Communication
(QXM) increased 7.9% during the week to Thursday.
(LONG - Get Report)
gained 7.8%. Brean Murray Carret initiated coverage on the stock and assigned a hold rating to the stock on Tuesday.
(PWRD - Get Report)
increased 6.8%. The company recorded an increase in its second-quarter revenue to $87.6 million from $76.3 million in the same quarter a year ago mainly on its acquisition of a majority stake in American game development company Runic Games. Roth Capital Partners on Tuesday assigned a buy rating to the stock with target price of $30, representing an upside of 13.2% over current levels.
Qiao Xing Universal Resources
, the Chinese telephone set maker, rose 6.5% after the company swung to net income of 12 cents a share in the first quarter ended March 31, from a year-earlier loss of 11 cents. Looking ahead, the company expects that its mining business during the second quarter will perform better than in the first quarter.
increased 5.4% in the week after the company reported second-quarter earnings of 52 cents a share, topping consensus estimates of 49 cents. Revenue for the quarter rose 147.7% to $370.8 million. For the full year, the company raised its PV module shipment guidance to 900 MW and 930 MW from the earlier range of 750 MW and 800 MW. On Wednesday, Credit Suisse reassigned a market outperform rating to the stock with the target price raised to $30 from $22.50. The stock currently trades at $24.75.
gained 4.6% during the past week.
Focus Media Holding
was up 4.2% after the company swung to net income of 17 cents a share from a year-earlier loss. Revenue surged 22% to $158.2 million. On Tuesday,
reassigned a buy rating to the stock with an increase in its target price to $21.70 representing an upside of 16.8% over current levels.
Among India ADR gainers,
was up 5.5% and