India: Winners and Losers
emerged top gainer last week, up 8%. Zacks Investment Research upgraded iGATE's shares to neutral from its earlier underperform rating last week.
Mahanagar Telephone Nigam
followed, adding 5.6%.
accumulated 4.4% during the past week, after announcing a partnership with U.S.-based Continuous Computing for providing solutions for 3G and Long Term Evolution network equipment makers.
gained 3.5% last week. Riding on the 3G services bandwagon, the bank expects to boost its mobile banking share in many Indian states and cities. The bank plans to open new branches by the end of the financial year in one of the Indian states namely Andhra Pradesh.
was up 3.4% after Zacks Investment Research reaffirmed the stock's rating at neutral with a price target of $72.
Cognizant Technology Solutions
increased 3% last week. The company said it is focusing on the growing outsourced testing services market in the UAE as the global industry for the same is estimated to grow at a five-year CAGR of 19%.
topped the losers' list last week, shedding 11.9%.
lost 6.1% last week. For 2011, the company estimates revenues of $600 to $630 million and earnings per diluted share in the range of $2.65 to $2.90, below market expectations.
Among other losers,
followed, declining 5.9%, while
Brazil: Winners and Losers
led the gainers' list, accumulating 9% last week, after reports said billionaire investor Warren Buffet's Berkshire Hathaway bought BRFS' shares. Meanwhile, utility stock
Companhia Paranaense de Energia-COPEL
Companhia de Bebidas das Americas - AmBev
were up 6.5% and 5.9%, respectively.
Meanwhile, banking stock
Banco Itau Holding Financeira
and steel producer
gained 5.8% and 5.4%, respectively during the past week.
Petroleo Brasileiro S.A. (Petrobras)
advanced 4.9% last week after the company restarted production from the Cherne II platform. The company reported another oil discovery in Brazil, located at a depth of 2,134 meters, approximately 244 kilometers off the coast of Rio de Janeiro State.
Heading the losers' list was
Net Servicos de Comunicacao
, sliding 1.9% last week. Analysts at Zacks Investment Research reaffirmed a neutral rating on the stock with an $11 price target. Major airline stock
Gol Linhas Aereas Inteligentes
declined 1.7% after oil prices surged in the aftermath of the Libyan crisis, affecting airlines earnings outlook.
edged 0.9% and 0.7% lower, respectively. However, Zacks Investment Research reaffirmed a neutral rating on BTM and upgraded Braskem from neutral to outperform last week.