ADRs End Higher; ASML Trades Actively
January 17 2018 - 6:37PM
Dow Jones News
International stocks trading in New York closed higher on
Wednesday.
The BNY Mellon index of American depositary receipts rose 0.8%
to 162.03. The European index increased 0.5% to 148.75. The Asian
index rose 1.1% to 194.00. The Latin American index rose 1.5% to
270.01. And the emerging-markets index improved 1.2% to 349.47.
ASML Holding NV (ASML, ASML.AE) was among those with ADRs that
traded actively.
ASML said Wednesday that it will launch a 2.50 billion-euro
($3.06 billion) share buyback in 2018-2019 and reported record
sales and net income for 2017 after a strong final quarter. Its
ADRs rose 7% to $199.18.
Pearson PLC (PSO, PSON.LN) failed to impress investors with its
profit guidance. While Pearson's net-debt position is manageable at
around GBP500 million and it has a pension surplus, the education
publisher's emphasis on adjusted operating profit raises questions
over the quality of earnings, even if the quantity looks good, said
Russ Mould, investment director at AJ Bell. He said some allowance
can be made for disposals and changes to the corporate structure
but if Pearson wants to prove it is back on track it will have to
show an increase in profit and close the gap between stated and
underlying profit. ADRs fell 3.7% to $9.46.
ADRs of Ericsson AB (ERIC) rose 6% to $7.34 on Wednesday, a day
after the Swedish telecommunications-equipment maker said it
expects to write down another 14.2 billion Swedish kronor ($1.77
billion) in assets, as it struggles to retool itself in the face of
slowing sales and nimbler Chinese rivals.
(END) Dow Jones Newswires
January 17, 2018 18:22 ET (23:22 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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