International stocks trading in New York closed mixed on
Monday.
The BNY Mellon index of American depositary receipts increased
0.12% to 147.47. The European index edged up 0.02% to 143.99, the
Asian index rose 0.46% to 157.60, the Latin American index eased
0.47% to 222.79 and the emerging markets index increased 0.25% to
272.10. Teva Pharmaceutical Industries Ltd. (TEVA, TEVA.TV) and
Carnival PLC (CUK, CCL.LN) were among the companies with ADRs that
traded actively.
Teva agreed to pay $512 million to settle a class-action lawsuit
alleging that Cephalon, a brand-name drug maker that the
Israel-based Teva purchased four years ago, delayed the
availability of the generic version of sleep-disorder drug
Provigil. The payment, which must be approved by a federal court,
resolves a lawsuit filed in 2006 by a group of retailers and
wholesalers, including RiteAid and CVS Health. They accused
Cephalon--before it was bought by Teva--of paying the generic drug
makers $136 million in cash and other forms of compensation to
delay generic launches, according to court documents. Teva ADRs
fell 2.5% to $63.29.
Carnival's ADRs fell 1.4% to $47.31 after rival Royal Caribbean
Cruises Ltd. cut its 2015 outlook and issued second-quarter
guidance well below expectations as the cruise ship company was hit
by impacts from a strong U.S. dollar and higher fuel prices.
Two big questions will hang over shares of Petroleo Brasileiro
SA (PBR, PETR3.BR, PETR4.BR) even if the state-run oil company
manages to report audited earnings as expected on Wednesday, says
BBT Asset Management. The first is whether Petrobras can get good
deals from its $13.7 billion divestment plan in 2015 and 2016, the
firm says. The other is whether Brazil's government will allow
Petrobras to overhaul corporate governance, leaving it more
transparent and accountable to minority shareholders. Petrobras
ADRs fell two cents to $8.77.
Write to Tess Stynes at tess.stynes@wsj.com
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