ADR Shares End Mixed; Teva, Carnival Decline

International stocks trading in New York closed mixed on Monday.

The BNY Mellon index of American depositary receipts increased 0.12% to 147.47. The European index edged up 0.02% to 143.99, the Asian index rose 0.46% to 157.60, the Latin American index eased 0.47% to 222.79 and the emerging markets index increased 0.25% to 272.10. Teva Pharmaceutical Industries Ltd. (TEVA, TEVA.TV) and Carnival PLC (CUK, CCL.LN) were among the companies with ADRs that traded actively.

Teva agreed to pay $512 million to settle a class-action lawsuit alleging that Cephalon, a brand-name drug maker that the Israel-based Teva purchased four years ago, delayed the availability of the generic version of sleep-disorder drug Provigil. The payment, which must be approved by a federal court, resolves a lawsuit filed in 2006 by a group of retailers and wholesalers, including RiteAid and CVS Health. They accused Cephalon--before it was bought by Teva--of paying the generic drug makers $136 million in cash and other forms of compensation to delay generic launches, according to court documents. Teva ADRs fell 2.5% to $63.29.

Carnival's ADRs fell 1.4% to $47.31 after rival Royal Caribbean Cruises Ltd. cut its 2015 outlook and issued second-quarter guidance well below expectations as the cruise ship company was hit by impacts from a strong U.S. dollar and higher fuel prices.

Two big questions will hang over shares of Petroleo Brasileiro SA (PBR, PETR3.BR, PETR4.BR) even if the state-run oil company manages to report audited earnings as expected on Wednesday, says BBT Asset Management. The first is whether Petrobras can get good deals from its $13.7 billion divestment plan in 2015 and 2016, the firm says. The other is whether Brazil's government will allow Petrobras to overhaul corporate governance, leaving it more transparent and accountable to minority shareholders. Petrobras ADRs fell two cents to $8.77.

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