ADRs End Higher; Baidu, Criteo Trade Actively
February 14 2018 - 6:19PM
Dow Jones News
International stocks trading in New York closed higher on
Wednesday.
The BNY Mellon index of American depositary receipts rose 2.1%
to 155.12. The European index improved 1.9% to 141.08. The Asian
index rose 2.2% to 186.50. The Latin American index rose 2.8% to
274.74, and the emerging-markets index increased 2.8% to
343.59.
Baidu Inc. (BIDU, K3SD.SG) and Criteo SA (CRTO) were among those
with ADRs that traded actively.
Baidu's ADRs rose 5% to $235.89 a day after the Chinese search
giant reported strong quarterly results that analysts said showed
the company's progress on two fronts--providing a steady stream of
revenue while it transitions to new businesses such as self-driving
cars, and moving past a 2016 medical-advertising scandal that
forced it to curtail advertising for health care. Baidu also said
it had filed preliminary paperwork for its iQiyi video-streaming
service to debut on a U.S. stock exchange, which would help the
unit raise money as it pushes to stay ahead in the fiercely
competitive sector.
Credit Suisse Group AG (CS) posted its third-straight annual
loss Wednesday as the U.S. corporate tax overhaul forced the Swiss
banking giant to write down more than $2 billion in deferred-tax
assets and erased what would have been a healthy return to profit.
Before taxes, income for 2017, excluding the U.S. tax-law one-time
hit, jumped from the previous year on strong revenue growth in its
wealth management arm. ADRs rose 6% to $18.66.
Criteo's ADRs rose 29% to $30.25 after the company reported
better-than-expected financial results for the December quarter and
delivered a strong outlook.
(END) Dow Jones Newswires
February 14, 2018 18:04 ET (23:04 GMT)
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