International stocks trading in New York were mixed Monday, with
the Bank of New York index of American depositary receipts rising
0.14% to 154.19. The European index decreased 0.04% to 154.55, the
Asian index improved 0.75% to 145.83, the Latin American index fell
0.21% to 279.93 and the emerging markets index increased 0.31% to
280.52. Among the companies with shares that actively traded was
Teva Pharmaceutical Industries Ltd. (TEVA, TEVA.TV).
Teva unveiled an organizational revamp that includes slashing
the size of its executive committee and appointing a global
quality-control chief. The Israel-based drug maker plans to combine
its generic operations into a global generic medicines unit that
will be led by Sigurdur Olafsson, who has been named president and
chief executive of the business effective July 1. Mr. Olafsson's
experience includes serving as president of Actavis PLC. Teva
shares rose 2.9% to $51.95.
ARM Holdings PLC (ARMH, ARM.LN), whose chip designs are found in
more than 90% of mobile phones, is gearing up to develop chips for
wearable devices, which are expected to be a high-growth market in
coming years. U.K.-based ARM said Monday it is building a design
center in Taiwan, the company's fourth world-wide, to develop chips
for accessories like watches and glasses and for electronic devices
that connect with one another and with the Internet. Shares fell
0.3% to $46.08.
A combination of two experimental AstraZeneca PLC (AZN, AZN.LN)
drugs, olaparib and cediranib, held ovarian cancer at bay for 17.7
months in a clinical trial, compared with nine months in patients
who received olaparib alone. Results of the study, conducted by the
National Cancer Institute, were presented over the weekend at the
American Society of Clinical Oncology meeting. AstraZeneca, which
has been developing each drug individually, says it supports
National Cancer Institute's plan to further test the combination in
additional trials. AstraZeneca shares rose 1.6% to $73.37.
Australian mining giant BHP Billiton (BHP, BHP.AU) says that it
is living proof that big companies aren't doomed to fail in shale.
BHP says it faced a steep learning curve when it bought shale
producer Petrohawk in 2011 for $12 billion. "The first year was
tough. I mean, our costs were high," said Rod Skaufel, BHP's shale
president. But a more nimble strategy and scientific approach has
helped the company slash costs by 25% in some areas, he says. BHP
Billiton shares rose 0.4% to $68.16.
Write to Tess Stynes at tess.stynes@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires