ADRs End Mostly Higher; ABB Rises
April 20 2016 - 6:34PM
Dow Jones News
International stocks trading in New York closed mostly higher
Wednesday.
ABB Ltd. (ABB, ABBN.EB, ABB.SK) was among the companies with
ADRs that traded actively.
The BNY Mellon index of American depositary receipts rose 0.10%
to 128.69. The European index edged up 0.03% to 126.27, the Asian
index increased 0.31% to 137.50, the Latin American index eased
0.15% to 187.25 and the emerging markets index edged down 0.15% to
240.92.
ADRs of ABB rose 3.1% to $20.88 after the Swiss power-grid and
automated-equipment maker reported that its first-quarter net
profit fell less than expected, despite declining energy prices and
slower economic growth in China.
ADRs of ARM Holdings PLC (ARMH, ARM.LN) fell 2.3% to $40.98
after the British chip-reported that its first-quarter revenue and
profits grew strongly but warned that economic uncertainty could
slow the industry the rest of the year.
ADRs of ASML Holding NV (ASML, ASML.AE) fell 3.3% to $96.43
after the Dutch semiconductor-equipment maker reported that its
first-quarter net sales fell 18%. The company added that it expects
net sales for the second quarter to be higher but expects margins
to weaken.
German business software provider SAP SE (SAP, SAP.XE) reported
a 38% jump in net profit for the first quarter of 2016, indicating
the company's focus on Internet-based cloud software is starting to
deliver results. ADRs fell eight cents to $80.55.
Syngenta AG (SYT, SYNN.EB) Chief Executive John Ramsay said
regulatory reviews of the Swiss seed and pesticide company's $43
billion acquisition by ChemChina are on track so the deal should
close by the end of the year. Syngenta also reported that
first-quarter sales fell 7% to $3.7 billion, a decline driven by
the stronger U.S. dollar. ADRs fell 69 cents to $83.71.
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
April 20, 2016 18:19 ET (22:19 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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