India: Winners and Losers
emerged top gainer last week, up 5.4%. The company reported an 18% increase in global vehicle sales during October, as compared to the same month a year ago. Overall, Jaguar Land Rover operations rose 12%, with Jaguar declining 19% and Land Rover growing 22%.
(IGTE - Get Report)
was second in the gainers' list, increasing 3.7%.
Cognizant Technology Solutions
(CTSH - Get Report)
advanced 3.2% at the end of last week. For the fourth quarter, the company expects revenue to come in at $1.27 billion, as compared to $1.21 billion during the third quarter. For the full year, net income is seen at $4.55 billion, or $2.35 per share, up 38.8% from 2009 levels.
Among the major losers,
(WIT - Get Report)
fell 6.5% last week. Through its subsidiary InfoCrsossing, Wipro is planning to set up a new data center in North Carolina, in order to support its growing business, including cloud computing services.
(SYNT - Get Report)
dipped 5.1%. The company recently finalized its secondary public offering by announcing the price offer for the 2.61 million shares, held by the company's founder and chairman. The public offering is $47.5 per share, and the proceeds will be completely transferred to the seller and not the company.
Mahanagar Telephone Nigam
slipped 4.5% and 4.3%, respectively past week.
Brazil: Winners and Losers
, engaged in providing scheduled air transportation through its operating subsidiaries, was the top gainer, up 6.2% in the past week. For the third quarter, the company recorded a 31.6% increase to $170.7 million in adjusted net income, while adjusted revenue escalated 23.4% to $1.65 billion. A substantial increase in airfare increased net income, while passenger and cargo revenues led revenue growth.
Companhia Brasileira De Distribuicao
(CBD - Get Report)
, a Brazil-based food retailer, rose 5% last week. Additionally,
(BAK - Get Report)
, a petrochemical company, accumulated 4.6%. The company recently entered into a strategic partnership with Ineos Technologies, a petrochemical technology developer, to acquire licenses for Innovene S slurry and Innovene G gas-phase technologies for producing high-density PE and linear low-density PE in its future petrochemical projects. Besides, Braskem would also conduct joint research and development programs for the same technologies.
The other gainers were
(ELP - Get Report)
, up 4.6% and 4.2%, respectively.
Among major losers,
(GGB - Get Report)
, producer of long-rolled steel, recorded the highest decline of 3.1% last week. Diversified national homebuilder
(GFA - Get Report)
narrowed 2.5%, after posting an 83% jump in third-quarter net profit, surging 140% in the total number of launches of projects or phases. However, looking ahead into fiscal 2010, the company's net income narrowed.
(VIV - Get Report)
fell 1.2% during last week.
Companhia Siderurgica Nacional
(SID - Get Report)
, a leading Brazilian steel maker, dipped 1.2% after Zacks Investment Research downgraded the stock's rating to underperform from neutral, after the company posted weak quarterly results. The research firm believes that rising manufacturing costs and mounting debt levels could hamper the company's future growth.