NEW YORK (TheStreet) -- Here are a few emerging market American depositary receipts winners and losers from last week.
Among China's ADRs, Gushan Environmental Energy (GU) and Noah Education Holdings (NED) were up 40% and 23.4%, respectively. Gushan, a leading biodiesel producer in China, announced a definitive agreement to acquire a 67% beneficial ownership interest in Mian Yang Jin Xin Copper.
Solar stocks like JA Solar Holdings (JASO) and LDK Solar (LDK) were up 13.5% and 10.3%, respectively. Both companies have signed a financial partnership agreement with the Shanghai branch of China Development Bank for 30 billion yuan ($4.48 billion) and 60 billion yuan ($8.95 billion), respectively. The credit will be used to fund the companies' long-term growth and corporate development plans.Baidu (BIDU), the largest internet service provider in China, rose 14.1% as Web site traffic has doubled since August 2009; the firm recorded 1 billion daily visits. The company said it plans to generate additional revenue through social games. Major losers for the week were eFuture Information Technology (EFUT) and New Dragon Asia (NWD), down 9.6% and 8.6%, respectively. India Indian ADRs trading on the New York Stock Exchange and Nasdaq added $5.12 billion to their market capitalizations last week, with IT majors Wipro (WIT) and Infosys Technologies (INFY) contributing toward the majority of the gains collectively adding $3.18 billion. Rediff.com (REDF) surfaced as the highest grosser for the second consecutive week, up 37.9% as its market cap soared by $45 million. Sify Technologies (SIFY) and Wipro were up 29.5% and 6.4%, respectively. Recently, Wipro was among the few IT companies handpicked by Oracle (ORCL) for the joint development initiative on next generation Oracle Fusion Applications. The sole loser was Satyam Computer Services (SAY), down 8.8%, as the company will be delisted from the NYSE on its inability to comply with U.S. market norms. The company's market cap slumped $3.15 billion last week. Brazil Among the Brazilian ADRs gainers, Vale (VALE) was up 7.9% as it has announced plans to roll out a fertilizer division in an initial public offering in 2011, according to Reuters The company expects the new fertilizer unit will be the second highest revenue earner after its iron ore unit. Petrobras Energia Participaciones (PZE) soared 6.4% and has emerged as the second-highest gainer. The company raised $70 billion last week through what is being termed as the biggest global share offering to finance its planned offshore oil exploration. This move could turn Brazil into a major energy exporter. Major losers for the week included Gerdau (GGB) and Companhia Energetica Minas Gerais (CIG), declining 6% and 4.3%, respectively.
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