Boston, MA 10/16/2014 (wallstreetpr) – Banco Santander, S.A. (ADR) (NYSE:SAN) stock was down by nearly 5.2 percent in spite of Moody’s Investors Service upgrading the Spanish sovereign rating to Baa2. Previously the Spain rating had been pushed back to Baa3. The sovereign rating upgrade was coupled with local-currency bench mark being upped to A1 from previous A3. The rating agency in its investor note had indicated that the upgrade in the overall ratings came on the back of improvement in the strength of the banking institutions of Spain, coupled with decreased exposure to risks associated with “lower government liquidity.” The stock of Banco Santander, S.A. (ADR) (NYSE:SAN) was trading at $8.55 at close of business on 15th October.
Private educational services provider New Oriental Education & Tech Grp (ADR) (NYSE:EDU) issued ADR plummeted by an additional 5 percent yesterday. The stock has been receding ever since it reported earlier this month that it has received communication form the Securities and Exchange Commission that the ongoing investigation by the authority into its operations has been concluded. New Oriental Education & Tech Grp (ADR) (NYSE:EDU) goes on to assert that any further action is unlikely by SEC at this stage. The company had first gone public with news of SEC investigations way back in July 2012.
Quiksilver, Inc. (NYSE:ZQK) has announced a slew of changes in the top echelons of its management team recently. Current chief executive officer has been elected as the chairman of the board of directors. Former boss Bob McKnight, who had stayed back to complete the handover process in January 2013, has decided to retire from his role of senior executive, while continuing to serve on the board as a director. Mr.Pierre Agnes has been given a promotion and will take over as the next president of Quiksilver, Inc. (NYSE:ZQK). The company in its press note indicated that all these appointments will become effective as of November 1, 2014.