This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Emerging Market ADRs: Winners and Losers

Stocks in this article: FFHLNWDCAEI

iGate (IGTE) gained 3% during the past week on the news that the company, in partnership with Apax Partners, could be the frontrunner to buy a 60% stake in Patni Computers (PTI) valued at around $1 billion. iGate seeks to make an open offer for another 20% of Patni. Meanwhile, Oppenheimer initiated coverage on iGate assigning an outperform rating to the stock with a price target of $27, a 32.7% upside from current levels.

HDFC Bank (HDB) was up 2.1% while Infosys Technologies (INFY) gained 1.7%. Infosys is looking for a 7.4% growth rate in 2011 earnings, according to a research report from BusinessLine.

Dr. Reddy's Laboratories (RDY) shed 5.7% pulled down by reports of a gas leakage in the company's facility at Hyderabad, India. Also, Mahanagar Telephone Nigam (MTE) declined 2% during the past week. It was revealed that India may prevent telecom firms to offer non-voice third generation mobile services unless the telecom companies prove that these facilities can be tapped live.

Brazil: Winners and Losers

Vivo Participacoes (VIV) emerged as the top gainer with an increase of 5.3% on a ratings upgrade. Last week, analysts at Sanford C. Bernstein upgraded the stock to outperform from market perform. Meanwhile, the company revealed that it has approved the interests' payment on its own capital for 2010 amounting to BRL 220 million ($130 million).

Braskem (BAK), a petrochemical company, was up 4.9%. Brasil Foods (BRFS) increased 4.2% after the company said it plans to raise investments by almost 80% to $940 million to $1.1 billion in 2011 driven by increasing demand for poultry and pork products.

Gafisa (GFA) and Brasil Telecom (BTM) gained 4.1% each, mainly driven by expanding volumes during the last week.

Companhia de Bebidas das Americas -- AmBev (ABV) was up 3.9%. The leading beer and soda distributor said that it is scheduled to split its stock 5-for-1 on Tuesday. Meanwhile, AmBev also has a franchise to produce, sell and distribute PepsiCo (PEP) outside the US. Also, it has a significant 70% share in the Brazilian beer market.

Among the major losers, Companhia Energetica de Minas Gerais (CIG), the largest integrated electric utilities in Brazil, declined the most with a fall of 7.4%. Recently, the company received board approval for a payment of a special dividend totaling $900 million.

2 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • 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 Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,195.42 +221.11 1.30%
S&P 500 0.00 -2.75 -0.14%
NASDAQ 4,566.1380 +16.9120 0.37%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs