Emerging Market ADRs: Winners and Losers

NEW YORK (TheStreet) -- During the past week, global markets remained lower as the fears of the contagion effect from the Irish sovereign debt crisis spreading to Europe heightened, and China's measures to combat spiraling inflation panicked investors. The Dow Jones and the S&P 500 lost 0.8% and 0.6%, respectively. Among emerging markets, Brazilâ¿¿s Bovespa was the major loser, down 3.8%. Indiaâ¿¿s Nifty followed, dropping 3.4%. The Shanghai Composite Index lost 0.6%.

China: Winners and Losers

China Shenghuo Pharmaceutical Holdings (Shenghuo) ( KUN) advanced 22% past week, extending its gains for the second consecutive week. The company swung to net income in its third quarter. Synutra International ( SYUT) accumulated 20.8% during the week. The company holds an impressive cash balance of $52.33 million in the current quarter.

China Digital TV Holding ( STV) gained 19.4%, after announcing a special dividend of $2 per ordinary share and per ADR. The dividend payout amounts to $117.4 million, equivalent to almost half the cash and short-term investments it had as of Sept. 30. Sinovac Biotech ( SVA) scaled up 12% last week.

Meanwhile, Canadian Solar ( CSIQ) jumped 7.2% after the company reported impressive third quarter results. Revenue for the quarter stood at $377.2 million, as compared to $213.1 million in the year-ago quarter. Boosted by demand from photovoltaic solar modules, net income multiplied several times sequentially to $20.3 million, or 47 cents per share, beating analyst estimates.

Spreadtrum Communications ( SPRD) increased 8.6% after reporting higher third quarter profit and sales. Net income for the quarter stood at $19.5 million, or 37 cents per share, as compared to $630,000 a year ago. Meanwhile, revenue jumped 151% to $96.2 million as against analysts' estimation of $92.6 million. For the fourth quarter, the company estimates revenue to range between $118 and $125 million, exceeding analysts' forecast of $102.6 million.

WSP Holdings ( WH) topped the losers' list, plummeting 20.5% after the company reporting a net loss of $26.84 million from $11.71 million recorded in the year-ago period.

Telestone Technologies ( TSTC) and LJ International ( JADE) lost 15.4% and 12.2%, respectively. Telestone said it has priced its public offering of 1.68 million shares at $12 per share, and the proceeds would be used to fund a new manufacturing and research and development center and for working capital purposes.

eFuture Information Technology ( EFUT) tumbled 12.6% after net loss for the third quarter widened, compared to the year-ago period.

India: Winners and Losers

iGATE ( IGTE) was the top gainer, up 9% during the past week. Tata Motors ( TTM) followed second in the advancers' list, gaining 7.7%. In pursuit of its strategy to tap rising disposable income levels in the country, the company is planning to set up 10 Jaguar Land Rover dealerships for the luxury car brand. Tata is following the footsteps of companies like Daimler, Bayerische Motoren Werke, and Volkswagen Audi division to capture the growing demand for premium brands in India.

WNS Holdings ( WNS) advanced 6.7%. Past week, the company inaugurated its new European headquarters in London, directed toward supporting the rapid expansion in the region. The company believes that the new headquarters will support penetration and growth in the U.K. market as it derives 60% of revenue from the European markets.

Among the major losers, Mahanagar Telephone Nigam ( MTE) slumped 13.1%. Tata Communications ( TCL) plunged 11.4%. Both the telecom majors experienced a value erosion of $141.79 million and $245.92 million, respectively. Meanwhile, Tata Communications announced new investments in Africa in order to expand into Nigeria, Ghana, Morocco, and Egypt. Further, MTE is focusing on converged services to mobile operators in order to allow them to become next generation carriers.

Sterlite Industries ( SLT) and Rediff.com ( REDF) slipped 9.9% and 5.9%, respectively. Rediff.com shareholders have approved the purchase of Vubites, a TV advertising firm founded by Rediff Chairman and CEO Ajit Balakrishnan, at an estimated $3.37 million. The acquisition would be completed before Dec. 10, 2010.

Brazil: Winners and Losers

Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP) ( SBS), water and sewage services provider, was the top gainer, up 1.9% past week. The company is planning to raise $350 million through a debenture issue, which has been approved by the board of Sao Paulo state's networks and the proceeds will be used to pay for its outstanding commercial papers. The company appointed Banco Santander ( STD), BB Investimento, and HSBC Holdings ( HBC) to coordinate the issue.

Another utility company, Companhia Energetica de Minas Gerais ( CIG) rose 1.8%, standing second in the gainers' list. Additionally, TAM ( TAM) and Companhia Brasileira De Distribuicao ( CBD) trimmed 1% and 0.8%, respectively.

Among major losers, Gafisa ( GFA), a diversified national homebuilder, recorded the highest decline of 7.5% last week. Brasil Telecom ( BTM) narrowed 6.7%. The company revealed last week that its board of directors has approved a proposal of interest payment on its own capital for an amount of about $231.5 million (BRL 400 million).

Among others, Gerdau ( GGB) continued its downtrend, falling by a further 6%.The company had narrowed its net income outlook for the year 2010. Banco Itau Holding Financeira ( ITUB) slumped 5.3% during the week.

More from Stocks

Trump, China Trade, Target and Las Vegas Casinos - 5 Things You Must Know

Trump, China Trade, Target and Las Vegas Casinos - 5 Things You Must Know

Quick Read: 3 Things for Investors to Know Before Wednesday's Trading Session

Quick Read: 3 Things for Investors to Know Before Wednesday's Trading Session

Replay: Jim Cramer on the Markets, Oil, General Electric, Zillow and Micron

Replay: Jim Cramer on the Markets, Oil, General Electric, Zillow and Micron

Pegasystems Founder Explains Why He Has One of the Hottest Tech Stocks Around

Pegasystems Founder Explains Why He Has One of the Hottest Tech Stocks Around

Micron Shares Soar; Chipmaker Is 'Managing for Profitability' Now, Says Analyst

Micron Shares Soar; Chipmaker Is 'Managing for Profitability' Now, Says Analyst