S&P 500
7,588.60
+0.51%
Dow Jones
52,758.90
+0.47%
Nasdaq 100
29,885.70
+0.46%
Russell 2000
2,982.51
-0.27%
FTSE 100
10,543.60
+0.61%
Nikkei 225
69,317.20
+0.42%

Investing

As Korean & European Fears Calm, Only Some ADRs Soar (ALU, RYAAY, MPEL, PKX, SKM, AIB, TTM)

Photo of Jon C. Ogg
By Jon C. Ogg Updated Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Invalid Image
Wednesday was a strong day for U.S. stocks as at least some fears are waning on overseas pressure.  South Korea rallied as the skirmish between the two Koreas did not escalate and as trading partners urged a cooling off.  Ireland appears closer to a bailout even if Portugal and the United Kingdom had demonstrations in the streets.  Even a rating cut in Ireland failed to topple the apple cart, mostly as it is a day late and euro short… We wanted to take a look at some key ADR winners on the day to indicate levels after European markets had closed but right before the end of the trading day here in America.  Alcatel-Lucent (NYSE: ALU), Ryanair Holdings plc (NASDAQ: RYAAY), Melco Crown Entertainment Limited (NASDAQ: MPEL), POSCO (NYSE: PKX), SK Telecom Co. Ltd. (NYSE: SKM), Allied Irish Banks, plc (NYSE: AIB), and Tata Motors Ltd. (NYSE: TTM) were the obvious winners shortly before the closing bell.  We added some color in on each to see if there is more to come or if this is just another trading day.

Ryanair Holdings plc (NASDAQ: RYAAY) was obviously happy about austerity measures since corporate tax rates in Ireland are not being changed (at least so far).  ADRs for the discount airliner were up 3% at $31.00 late in U.S. trading.  Allied Irish Banks plc (NYSE: AIB) was a surprise winner today with shares higher by more than 16% at $1.04 late in U.S. trading.

POSCO (NYSE: PKX), the South Korean steel giant, was higher after the Koreans decided to not try to work toward an end of days outcome.  The ADR was higher by 4.1% at $99.24 late in the trading day.  SK Telecom Co. Ltd. (NYSE: SKM) was higher as well with ADRs up nearly 3% at $18.50 very late in the trading day.

Alcatel-Lucent (NYSE: ALU) almost never seems to win anymore, yet here we showed a 4.3% gain to $2.90.

Melco Crown Entertainment Limited (NASDAQ: MPEL) got a breather as the Korean incident is not likely to slow Macau gambling.  Shares were up a hair under 5% at $6.32 late in the day.  Tata Motors Limited (NYSE: TTM) on high sales projections.  The ADRs were up almost 10% at $35.70 late in the trading day.

Major markets are set to be open for trading Thursday while America is busy eating turkey for Thanksgiving.

JON C. OGG

Contact [email protected] for any questions or corrections.

Disclaimer: Energy Exploration Technologies, Inc. ("EnergyX") has engaged 24/7 Wall St to publish this communication in connection with EnergyX's ongoing Regulation A offering. 24/7 Wall St has been paid in cash and may receive additional compensation. 24/7 Wall St and/or its affiliates do not currently hold securities of EnergyX.

This compensation and any current or future ownership interest could create a conflict of interest. Please consider this disclosure alongside EnergyX's offering materials. EnergyX's Regulation A offering has been qualified by the SEC. Offers and sales may be made only by means of the qualified offering circular. Before investing, carefully review the offering circular, including the risk factors. The offering circular is available at invest.energyx.com/.

Comparisons to other companies are for informational purposes only and should not imply similar results. Past performance is not indicative of future results. Market shortfall are forward‑looking estimates and are subject to substantial uncertainty. Investments in private placements, and start-up investments in particular, are long-term, illiquid, speculative and involve a high degree of risk and those investors who cannot afford to lose their entire investment should not invest in start-ups

Follow 24/7 Wall St. on Google
Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

Featured Reads

Our top personal finance-related articles today. Your wallet will thank you later.

Could You Retire Like Royalty in Vietnam With $400,000?
Drew Wood |

Could You Retire Like Royalty in Vietnam With $400,000?
A Widow Turned Down the Survivor Check at 60 to Protect a Bigger One Later. The Wait Cost Her $50,000.
Gerelyn Terzo |

A Widow Turned Down the Survivor Check at 60 to Protect a Bigger One Later. The Wait Cost Her $50,000.

Continue Reading

Jon C. Ogg |

Eight of 2010’s Worst ADR Performers (ALU, AIB, IRE, NBG, BBVA, OTE, WMD, MPEL)

ADR investors have probably made money this year only if they were writing call options or if they were shorting…

Jon C. Ogg |

Top Day Trader Alerts (ACAS, BZH, BP, GMRN, ITMN, MPEL, MYGN, OSIR, RYAAY)

Many stocks are on the move this morning, and not all from earnings.  The top day trader and active trader…

Jon C. Ogg |

10 Major Stock Movers For Monday (AMRN, AMAG, AIB, IRE, NBG, DRYS, NLST, ALU, RYAAY, VOLT)

Amarin Corporation plc (NASDAQ: AMRN) is indicated up 50% at $5.35, well above the $3.85 52-week high, after its AMR101…

Jon C. Ogg |

Top Day Trader Alerts (ADCT, ALU, FRE, FNM, JDSU, MED, MPEL, NBG, QCOR, TGT)

There are many movers today, but a lack of the double-digit gainers and losers we have seen.  The movers on…

Douglas A. McIntyre |

Top Active Trader Alert Stocks (AIB, AIXG, IRE, MVIS, NFLX, OREX, RYAAY, VVUS)

Active traders and day traders have many stocks to choose from this Wednesday morning.  We are tracking news and moves…

Jon C. Ogg |

Austerity Vote Creates All Green in Irish Stocks (AIB, IRE, IRL, RYAAY, ELN, WCRX)

Allied Irish Banks plc (NYSE: AIB) and The Bank of Ireland (NYSE: IRE) are soaring on ahead of an expected…

Jon C. Ogg |

St. Patrick’s Day Stock Portfolio (AIB, IRE, IRL, RYAAY, ELN, WCRX, SAM, TAP, BUD, MO)

Kiss me, I’m Irish!  That is what you’ll be hearing a lot of after work if you go out for…

Jon C. Ogg |

Top Analyst Upgrades and Downgrades (ALU, BAC, BIIB, CSCO, C, DMND, GS, JPM, MPEL, PDLI, PCLN, SPWR)

Jon OggThese are some of the top analyst upgrades, downgrades, and initiations seen from Wall St. research firms this Thursday.…

Jon C. Ogg |

Rally Take: ADRs Show Where Real Moves Were (AIB, BBVA, STD, IRE, BCS, DAI, ING, PHG, REP, SI, TI, ALU, BP)

A 404-point move up in the DJIA and a near 49-point run in the S&P 500 sounds massive at 3.9%…

Top Gaining Stocks

Meta
META • Vol: 40,760,422
CarMax
KMX • Vol: 2,288,021
Weyerhaeuser
WY • Vol: 6,523,553
SBA Communications
SBAC • Vol: 1,443,801
NVIDIA
NVDA • Vol: 148,249,982

Top Losing Stocks

Moderna
MRNA • Vol: 9,176,778
Coterra Energy
CTRA • Vol: 73,319,495
CrowdStrike
CRWD • Vol: 9,269,567
Datadog
DDOG • Vol: 5,135,556
EPAM Systems
EPAM • Vol: 1,164,561