ADRs End Slightly Lower; PetroChina, Royal Philips, SAP Trade Actively
January 30 2018 - 6:21PM
Dow Jones News
International stocks trading in New York closed slightly lower
on Tuesday.
The BNY Mellon index of American depositary receipts dropped 1%
to 163.13. The European index decreased 1% to 149.33. The Asian
index fell 1% to 194.99. The Latin American index dropped 0.3% to
280.81. And the emerging-markets index decreased 1% to 358.79.
PetroChina Co. Ltd. (PTR), Royal Philips NV (PHG) and SAP SE
(SAP) were among those with ADRs that traded actively.
Chinese oil giant PetroChina said Tuesday it expects its 2017
net profit to rise 165% to 203% from 7.9 billion yuan ($1.25
billion) a year earlier, according to Chinese accounting standards.
The Chinese oil company said the expected jump in net profit for
the year ended December is partly due to the significant rise in
average realized prices of crude oil, natural gas, refined oil and
other products. Cost-cutting measures and improved efficiency also
helped the bottom line, PetroChina said. ADRs of PetroChina fell 6%
to $76.52.
Philips said Tuesday that net profit increased 37% to 860
million euros ($1.06 billion) in the fourth quarter, as it backed
its 2018 guidance and kept its dividend unchanged. The Dutch
electronics producer said comparable sales were up 5% on the back
of its personal-health division as well as its diagnosis and
treatment businesses. The company expects its markets to grow at 3%
to 5% on a comparable basis in 2018. ADRs of Philips dropped 3.7%
to $40.28.
SAP on Tuesday said it would buy Callidus Software Inc. for $2.4
billion, as part of the German software company's latest move to
bolster its cloud-computing business. The deal for the
California-based company, which sells software used by sales and
marketing teams, came as SAP reported fourth-quarter earnings. SAP
said net profit rose 21% to EUR1.85 billion ($2.29 billion) in the
quarter, as revenue rose 1% to EUR6.81 billion. For 2018, the
company is forecasting non-IFRS operating profit of between EUR7.3
billion and EUR7.5 billion, and non-IFRS total revenue of between
EUR24.6 billion and EUR25.1 billion. ADRs of SAP dropped 2.4% to
$110.81.
(END) Dow Jones Newswires
January 30, 2018 18:06 ET (23:06 GMT)
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