Emerging-Market ADRs: Winners and Losers
NEW YORK (Thestreet) -- Global market indices lost ground last week because of Japan's crisis. Among emerging-market indices, only Brazil's Bovespa edged higher, gaining 0.3%. Others, such as India's Nifty and China's Shanghai Composite Index declined. The Nifty was down 3.1%, and the Shanghai Composite lost 0.9%. At the end of the week, the Dow Jones and the S&P 500 had declined 1.5% and 1.9%, respectively.
China: Winners and Losers
China Architectural Engineering (CAEID) topped the gainers' list, rising 14.7% last week. A-Power Energy Generation Systems (APWR) followed, advancing 12.6%. The company recently signed a $30.5 million contract with Guangchao Biomass Power Generation to develop a biomass power generation plant consisting of two 15 MW power generation units. The project's in-service date is mid-2012.
Longtop Financial Technologies (LFT) rose 10% after Deutsche Bank reaffirmed its buy rating on the stock with a price target of $45. The company recently announced a share repurchase program to buy up to $50 million in total value. Longtop has also entered into a definitive agreement to acquire 100% of FNDSoft, a provider of core insurance solutions for property insurance companies in China.
China's solar stocks continued to rise, benefiting from events in Japan. Industry analysts believe that with the rising capital costs of building new nuclear reactors, natural gas and renewable sources like solar and wind will find favor.Among solar stocks, Yingli Green Energy Holdings (YGE) saw the biggest gains, rising 9.8%. Trina Solar (TSL) rose 9.6% past week. The latter company's CEO recently said that the nuclear crisis in Japan has positive implications for the solar industry, because solar power is safe and environmentally friendly. LDK Solar (LDK) increased 7.8% last week. The company recently unveiled plans to expand its wafer capacity to 4 gigawatts by the end of 2011, driven by strong demand and pricing stability. In its latest quarterly earnings, LDK reported a 202.3% increase in total revenue and swung to net income of $145.2 million, vs. a net loss of $16.1 million in the year-ago quarter.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
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.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
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.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV