Many investors make the mistake of not paying enough attention to international companies as they may be missing out attractive investment opportunities.
Here is a roundup of some of the more notable pieces of news affecting international companies.
Alibaba Expands Presence In Security
China-based ecommerce giant Alibaba Holdings (NYSE: BABA) said that it will collaborate with Europe-based Gemalto to provide connective and security to Alibaba’s cloud-based, data and services oriented Internet of Things (IoT) operating system called YunOS.
Alibaba is positioning itself beyond its status as an e commerce giant and wants to dominate the IoT market which will be used in connected cars, smart home appliances, mobile devices and many other technologies.
As of May of this year, more than 70 million smartphone users and over 100 million smart terminals operate under YunOS’ brand.
Teva Pharmaceuticals Slumps To A New 52-Week Low
Israel-based Teva Pharmaceutical (NYSE: TEVA) saw its stock lose nearly 3 percent and hit a new 52-week low of $41.67 on Monday.
Teva said in a joint press release with Regeneron Pharmaceuticals (NASDAQ: REGN) that the U.S. Food and Drug Administration placed an ongoing Phase 2b study in chronic back pain on clinical hold and also requested an amendment of the study protocol.
The FDA said that it observed a case of arthropathy in a patient receiving high dose of the therapy being tested, fasinumab.
The company noted that its study thus far demonstrated clear evidence of efficacy with improvement in pain scores in the patients involved. Based on Teva’s stock price performance, investors have lost a certain degree of confidence in the international company.
Regeneron’s stock also traded low on Monday and lost 1.33 percent to close the day at $366.73.
Management Shakeup Erases Monday’s Gains At This Canadian Telecom Giant
In conjunction with Rogers Communications (NYSE: RCI)’s third quarter earnings report, the Canadian-based telecommunications company announced that its CEO Guy Laurence will step down immediately.
Shares of Rogers opened for trading at $41.30 on Monday and quickly soared to an intra-day high of $42.57 before reversing course and steadily declining throughout the remainder of the trading session.
Rogers also announced it has plans on hiring Joseph Natale to serve as CEO – eventually. There is no timeline when the former CEO of rival Telus will take over
A Bloomberg report questioned if the management change also signals a shift in Rogers’ strategy of offering sports and TV content to win customers will continue.