ADRs End Lower; Cheetah Mobile Declines
May 19 2016 - 6:01PM
Dow Jones News
International stocks trading in New York closed lower on
Thursday.
Cheetah Mobile Inc. (CMCM) was among the companies with ADRs
that traded actively.
The BNY Mellon index of American depositary receipts fell 0.8%
to 120.64. The European index decreased 0.7% to 119.46; the Asian
index dropped 0.9% to 127.33; the Latin American index fell 1.3% to
169.53; and the emerging markets index declined 1% to 220.65.
Cheetah Mobile issued second-quarter guidance well below
expectations as the Chinese mobile utility and security app company
said its first-quarter earnings fell 65%. The Beijing company's
ADRs closed at $11.43 in New York, a decline of 18%, after hitting
an all-time low earlier Thursday.
National Grid PLC (NGG, NG.LN) reported a 15% rise in fiscal
2016 pretax profit and said the process for the sale of a majority
stake in its U.K. gas-distribution business is on track. The U.K.
natural-gas and electricity network operator's ADRs fell 60 cents
to $72.19.
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
May 19, 2016 17:46 ET (21:46 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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