International stocks trading in New York closed lower Wednesday, with the Bank of New York index of American depositary receipts falling 0.4% to 152.11. The European index dropped 0.5% to 152.60, the Asian index fell 0.3% to 141.91, the Latin American index was essentially flat at 284.96, and the emerging markets index declined 0.6% to 277.66. Among the companies with shares that actively traded were Ericsson (ERIC) and ARM Holdings PLC (ARMH, ARM.LN).

Slack demand for mobile data networks in Japan and North America and stiff competition from rivals led Swedish wireless networks giant Ericsson to report a sharp decline in revenue over the first three months of the year. While the company expects a boost in the second half of the year due to new business awards, declining revenue from two large mobile broadband coverage projects in North America hurt the most recent results. Shares fell 5.5% to $12.28.

Computer chip designer ARM Holdings said first-quarter profit rose 20%, boosted by customers using its technology in a growing range of products from supercomputers to sensors. However, growth wasn't as robust as the previous year, which the company said reflected normal fluctuation as customers burned through a backlog of chips. Shares of the Cambridge, England, company fell 5% to $47.61.

Cnooc Ltd. (CEO, 0883.HK), China's biggest offshore producer of oil and gas by output, is selling multibillion-dollar bonds in three portions, partly to repay loans related to its $15.1 billion purchase of Canadian oil-sands operator Nexen Inc., according to The Wall Street Journal, which cited a person familiar with the matter. Cnooc shares slipped 1.5% to $163.48.

Write to Anna Prior at anna.prior@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

ARM Holdings (LSE:ARM)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more ARM Holdings Charts.
ARM Holdings (LSE:ARM)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more ARM Holdings Charts.