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ADR Report: Downbeat Solar News Drags Shares Lower

By Mia Lamar and Anna Prior International companies trading in New York closed lower Monday, following a slew of downbeat news from solar companies and a big Friday runup in the broader index. The Bank of New York index of ADRs closed down 0.04% to 120.17. A trio of solar stocks ranked as the weakest performers of the day, led by a 15% drop in Suntech Power Holdings Co. (STP, K3ND.SG). Suntech said Monday it may have been a victim of fraud in a financing deal involving 560 million euros ($686.4 million) in German government bonds that a third-party investor provided as collateral. The company said its attorneys came across the problem at Global Solar Fund as part of an effort to "monetize its investment," or sell assets held by Global Solar Fund. The Asian index fell 0.8% to 116.50. Trina Solar Ltd. (TSL, K3KD.SG) ended solidly in the red after the solar company cut its second-quarter guidance, citing an overcapacity-induced deflationary-pricing environment and lower-than-expected shipment volume. Shares slumped 11% to $4.84. Another solar decliner, China's Yingli Green Energy Holding Co. Ltd. (YGE), ended the day down 11% at $1.83. The European index ticked up 0.3% to 112.20. Shares of Nokia Corp. (NOK, NOK1V.HE) rose 2.8% to $2.17 after the struggling Finnish handset maker unveiled a plan aimed at retaining key talent during its turnaround effort. The plan boosts the maximum number of stock options Nokia can hand out to certain senior level employees by 35%. "None of these additional stock options will be granted to the CEO and the Nokia Leadership Team members but rather to key senior level employees who are critical in carrying forward Nokia's strategy," the company said. Credit Suisse Group AG (CS, CSGN.VX) bucked the index's slight gains after Barclays lowered its target price on the stock to roughly $15.84 from about $17.37, saying challenges remain for Credit Suisse despite progress with its additional capital measures. Shares dropped 4.2% to $17.14. The Latin America index slipped 0.1% to 323.35, while the emerging-markets index fell 0.4% to 271.58. Brazilian state-run energy giant Petroleo Brasileiro SA (PBR, PETR3.BR, PETR4.BR), or Petrobras, will spend $5.6 billion through 2016 to reverse declining output at the company's oldest offshore oil fields, company officials said Monday. U.S-listed shares fell a penny to end at $20.46. Write to Mia Lamar at mia.lamar@dowjones.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Petroleo Brasileiro (PBR)
DateTimeHeadline
04/28/201501:10:22Moody's Confirms Ratings for Brazil's Petrobras
04/27/201520:34:46Petroleo Brasileiro Petrobras SA Downgraded to Sell at Vetr Inc...
04/27/201516:36:50Petroleo Brasileiro Petrobras SA Downgraded to "Sell" at TheStreet...
04/27/201507:33:46Petroleo Brasileiro Petrobras SA Receives "Underperform" Rating...
04/27/201504:19:28Petroleo Brasileiro Petrobras SA Lowered to "Underweight" at...
04/24/201517:42:52Petroleo Brasileiro Petrobras SA Stock Rating Reaffirmed by Deutsche...
04/24/201515:21:50Petroleo Brasileiro Petrobras SA PT Set at $11.50 by Cowen and...
04/24/201508:10:13Avoid These Stocks at All Costs
04/23/201518:21:48ADR Shares End Higher; Ericsson Drops, Logitech Rises
04/23/201513:19:50Petrobras Preferred Shares Open Lower
04/23/201513:18:34Petrobras Preferred Shares Open Lower in São Paulo -- Update
04/22/201516:30:13Judge Convicts Eight in Petrobras Probe
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04/21/201520:33:46FMC Technologies Inc. Earnings: Better Than You Might Expect
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04/20/201520:34:16ADR Shares End Mixed; Teva, Carnival Decline
04/16/201510:50:16Brazil's Grupo OAS Seeks Protection of U.S. Court
04/16/201510:27:30Brazil's Grupo OAS Seeks Protection of U.S. Court
04/15/201514:37:12Brazil Police Arrest Workers' Party Treasurer Joao Vaccari Neto

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