ADRs End Lower; ABB, Baidu and Cemex SAB Trade Actively
February 08 2018 - 7:01PM
Dow Jones News
International stocks trading in New York closed lower on
Thursday.
The BNY Mellon index of American depositary receipts dropped
2.7%, to 149.29. The European index decreased 2.4%, to 136.56. The
Asian index fell 3.4%, to 178.30. The Latin American index dropped
3%, to 259.78. And the emerging-markets index declined 3.4%, to
324.94.
ABB Ltd. (ABB), Baidu Inc. (BIDU) and Cemex SAB de CV (CX) were
among those with ADRs that traded actively.
ABB's fourth-quarter net profit fell compared with the same
period a year ago, largely because of charges associated with
organizational changes announced late December, the company said
Thursday. Net profit at the Swiss industrial conglomerate was $393
million, down from a restated figure of $425 million a year
earlier, the company said. Revenue for the quarter rose 3%, to
$9.28 billion, from $8.99 billion in the year-earlier period, ABB
said. ADRs of ABB fell 7.1%, to $24.29.
Chinese internet giant Baidu announced that the Unicode
Consortium has added three Chinese cultural hallmarks designed by
Baidu's Facemoji Keyboard team to a list of 157 new emojis recently
revealed that will be added to version 11 of the Unicode Standard
in 2018. The emojis are a red envelope (hong bao), a firecracker
(bian pao) and a moon cake (yue bing). The new emojis will become
part of the emoji dictionary shared across almost all smartphones
and computer platforms worldwide. ADRs of BIDU fell 4.7%, to
$212.07.
Mexican cement and building-materials company Cemex SAB swung to
a net loss in the fourth quarter, its first in more than two years.
Cemex said Thursday that lower operating profit, higher expenses
and taxes, and lower foreign exchange gains contributed to a $105
million net loss in the three months ending December, which
compared with a net profit of $214 million in the fourth quarter of
2016. Net profit for all of 2017 rose 8%, to $806 million, the most
since 2007. Fourth-quarter sales rose 8%, to $3.4 billion, bringing
sales for the full year to $13.7 billion. ADRs fell 5.6%, to
$7.36.
(END) Dow Jones Newswires
February 08, 2018 18:46 ET (23:46 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
Baidu (NASDAQ:BIDU)
Historical Stock Chart
From Apr 2024 to May 2024
Baidu (NASDAQ:BIDU)
Historical Stock Chart
From May 2023 to May 2024