Mead Johnson shares vaulted higher after its first-quarter earnings beat the analysts’ estimate by 3 cents on the strength of rising revenues in emerging markets.
Brazil has replaced China as the favorite market for emerging private equity deals, as big names race to get a share of the market. Nearly 70 percent of investors in private equity funds now see Brazil as the most attractive market for deal-making over the next year, while less than 60 percent of investors said the same about China.
Renren Inc. broke below its initial public offering price of $14 Wednesday, plunging 12 percent to $13.04 in midday trading before closing at $13.49, posting a negative total return of 4 percent. The first week’s dismal performance for Renren following its IPO has aroused concerns about other Chinese IPOs waiting in the pipeline.