Mercadolibre Inc (NASDAQ:MELI) shares jumped 24.29% and closed at $82.68 in the last trading session. The company last week posted second-quarter net income of $25.38 million or $0.57 per share, up from $14.82 million or $0.34 per share in the previous-year quarter. Consolidated net revenues for the quarter rose 28 percent to $88.84 million from $69.38 million in the comparable quarter last year. Analysts expected the company to earn $0.49 per share on revenue estimate of $88.02 million.
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Additionally, JPMorgan Chase upgraded shares of MercadoLibre from a neutral rating to an overweight rating in a report issued last week.
Interpublic Group of Companies, Inc. (NYSE:IPG) shares climbed 13.33% and closed at $10.97 in the previous trading session. French advertising and communications firm Publicis SA yesterday denied it had approached Interpublic Group of Cos. IPG+13.33% with a view to a merger. Publicis said that it denied having engaged in any discussions with Interpublic Group of Cos and confirms that it has not commissioned any bank to undertake any such discussions.
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Mechel OAO (ADR) (NYSE:MTL) shares increased 9.68% and closed at $6.80 in yesterday’s session. The company last week said that steel production in the first-half of 2012 rose 13% to 3.39 million tonnes, while coal production for the period increased 7% to 13.38 million tonnes. Pig iron production for the first-half surged 10% to 2.02 million tonnes.
Foster Wheeler AG (NASDAQ:FWLT) shares jumped 8.86% and closed at $19.66 in the last trading session. Research analysts at Citigroup increased their target price on shares of Foster Wheeler from $20.00 to $21.00 in a report released on August 2, 2012.
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Additionally, the company last week said that a subsidiary of its Global Engineering and Construction Group has been awarded a contract by Samsung Engineering Co. Ltd. (Samsung) for a waste heat recovery unit for PTT Public Company Limited's (PTT) Power Generation and Heat Recovery project at the Map Ta Phut Industrial Complex in Thailand.
Kodiak Oil & Gas Corp (USA) (NYSE:KOG) shares climbed 7.94% and closed at $8.16 in the previous trading session. The company last week reported second-quarter net income of $93.1 million, or $0.35 per share, as compared to $14.0 million or $0.08 per share in the comparable quarter last year. Total revenue for the quarter rose to $85.77 million from $22.11 million in the year ago quarter. Analysts expected the company to report earnings of $0.10 per share on revenues of $99.88 million for the quarter.