Posts for Ticker ‘SAY’

Satyam Tries To Save Itself (SAY)

Burning_money_pic_2Satyam Computer Services Limited (NYSE: SAY) has become the Enron of India.  The troubles over its book-cooking are widely known, and there is very little tangible data about the real value of the company.  This is what happens when a company says most of its cash balance is a lie.  Somehow, some way, the company’s board of directors is trying to convey that it has things under control.

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Posted on: January 23, 2009 – 9:57 am in Emerging Markets, Technology Companies, Turnarounds,

Satyam Turns Out to be a House of Cards (SAY, INFY, WIT, PIN, EPI, IFN)

Burning_money_picIf you are one of those who cannot stand Indian IT-outsourcing firms, you probably just got another feather in your cap. India’s Satyam Computer Services Ltd. (NYSE: SAY) is turning out to be a house of cards.  Shares closed at $9.35 yesterday after many recent troubles, and that was already down two-thirds from their highs.  Things are worse this morning.  Much, much worse.

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Posted on: January 7, 2009 – 6:38 am in ADR, Accounting, Earnings Warning, Emerging Markets, Law, Shareholder Issues, , , , , ,

Pre-Market Analyst Downgrade/Negative Calls (AAPL, BK, BUCY, CCRT, EGO, JOYG, NOK, PALM, SAY)

Broken_money_merger_imageThese are some of the top pre-market analyst downgrades or cautious calls seen from Wall Street early this Thursday morning with more than two hours to the open:

  • Apple (NASDAQ: AAPL) Started as Hold at Canaccord.
  • Bank of NY Mellon (NYSE: BK) Cut to Market Perform at KBW.
  • Bucyrus International (NASDAQ: BUCY) Cut to Underweight at JPMorgan.
  • CompuCredit (NASDAQ: CCRT) Cut to Market Perform at KBW.
  • Eldorado Gold (NYSE: EGO) Cut to Outperform from Strong Buy at Raymond James.
  • Joy Global (NASDAQ: JOYG) Cut to Underweight at JPMorgan.
  • Nokia (NYSE: NOK) Started as Sell at Canaccord.
  • Palm (NASDAQ: PALM) Started as Sell at Canaccord.
  • Satyam Computer (NYSE: SAY) Cut to Sell at Goldman Sachs; Cut to Underweight at Morgan Stanley.

Jon C. Ogg
December 18, 2008

Posted on: December 18, 2008 – 7:20 am in Analyst Calls, , , , , , , , ,

The 52-Week Low Club (SAY)(KFN)(ZIXI)

Sad_clown_2Satyam Computer (SAY) Plans to buy another company send stock diving. Drops to $5.05 from 52-week high of $29.84.

KKR Financial (KFN) Plans to replace CEO on top of poor performance. Drops to $.60 from 52-week high of $16.78.

Zix (ZIXI) No news, just a bad day. Falls to $1.11 from 52-week high of $5.30.

Douglas A. McIntyre

Posted on: December 16, 2008 – 3:46 pm in Uncategorized, , ,

Satyam’s Diversification, A Bridge To Nowhere (SAY)

Burning_money_pic_3Satyam Computer Services Ltd. (NYSE: SAY) is seeing its stock crushed this morning after the company’s board of directors approved acquisitions of infrastructure development companies Maytas Infra Ltd. and Maytas Properties Ltd.  What is interesting is that this acquisition of the two Maytas was being sold as a view to remove the risk from its core business of software and IT-outsourcing services.  The purchase price is roughly $1.6 billion, and technically these are majority stakes being taken.

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Posted on: December 16, 2008 – 11:42 am in Emerging Markets, Infrastructure, Mergers and Buy Outs, Software,

Indian ADR’s Unphased By Terror Attacks (INFY, IBN, REDF, SAY, SLT, TTM, WIT)

India_map_imageFresh attacks that appear to be targeted against foreigners in Mumbai, India have failed to thwart a market rally today even in Indian stocks.  Reports have foreigners being taken hostage at premiere hotels frequented by the wealthy and by business travelers and some 60 deaths have been reported.  Interestingly enough, this has also failed to take out the wind of the Indian ETF’s and Indian ADR’s which are actively traded here in the US.  Stock Moves in ADR’s:

  • Infosys Technologies Ltd. (NASDAQ: INFY) up 6.3% at $24.61
  • ICICI Bank (NYSE: IBN) down 2.7% at $13.26 (had been up before)
  • Rediff.com India Ltd. (NASDAQ: REDF) up 5.6% at $2.06
  • Satyam Computer Services (NYSE: SAY) up over 3% at $12.78
  • Sterlite Industries (NYSE: SLT) up 7% at $4.80
  • Tata Motors (NYSE: TTM) down 2.3% at $4.59 (was down most of day)
  • Wipro Ltd. (NYSE: WIT) up 4.3% at $7.48

We also added in an after-report list to the ETF’s and closed-end funds we track to show a broad interest as well.

Jon C. Ogg
November 26, 2008

Posted on: November 26, 2008 – 3:17 pm in ADR, Emerging Markets, , , , , , ,

IT Outsourcing Income Altered By Dollar (Strength)? (INFY, SAY, WIT)

There may be an interesting trend in the IT outsourcing game, and one that will seem counter-intuitive if you have witnessed the currency trends and jobs migration trends since 2002.  This isn’t exactly breaking news now that we have seen the U.S. dollar rebound after a six-year pounding. 

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Posted on: September 12, 2008 – 7:48 am in China, Emerging Markets, Labor & Unions, , ,

Top 10 Early Bird Analyst Calls (AIG, CTAS, KBW, NTES, NKE, SAY, SHW, SWK, TEVA, WFMI)

These are only some of the early bird analyst calls that we have seen in early Monday pre-market trading, but these are some of the more active stock names:

  • American International Group (NYSE: AIG) Raised to Buy at Banc of America.
  • Cintas Corp. (NASDAQ: CTAS) Raised to Equal Weight at Morgan Stanley.
  • KBW (NYSE: KBW) Cut to Market Perform at FBR.
  • NetEase (NASDAQ: NTES) Raised to Outperform at Credit Suisse.
  • Nike (NYSE: NKE) Cut to Neutral at HSBC.
  • Satyam Computer Services (NYSE: SAY) Cut to Equal Weight at Morgan Stanley; Cut to Underperform at Credit Suisse.
  • Sherwin Williams (NYSE: SHW) Cut to Sell at Goldman Sachs.
  • Stanley Works (NYSE: SWK) Cut to Hold at Deutsche Bank.
  • Teva Pharmaceutical Ind. (NASDAQ: TEVA) Raised to Buy at Deutsche bank.
  • Whole Foods Markets (NASDAQ: WFMI) Raised to Equal Weight at Morgan Stanley.

Jon C. Ogg
July 21, 2008

Posted on: July 21, 2008 – 6:01 am in Analyst Calls, , , , , , , , , ,

Satyam Broadens GE Pact In Alliance (SAY, GE)

Satyam Computer Services Ltd. (NYSE: SAY) has partnered with General Electric Co. (NYSE: GE) unit GE Healthcare to support customers deploying healthcare IT solutions based on GE Centricity Enterprise software.

The companies will jointly plan, design, and implement infrastructures for global healthcare providers of all sizes, from small clinics to large hospitals, and they will perform
application integration and tailor solutions for providers.

Satyam will be the first global systems integrator to start enrolling consultants in new GE Healthcare certification exam programs for Centricity Enterprise Software in the fourth quarter of 2008. 

Satyam is one of the largest India-based outsource operations for global consulting and information technology services.  Normally, single contracts and ventures are one-off items for companies the size of Satyam.  But scoring GE Healthcare when it wants to expand its reach is likely a larger deal than most.  The companies have already worked with each other in the Middle East and India.

As far as wondering the size of Satyam now, it lists 51,127 people as its professionals.  On a weak day like today, Satyam shares are still down over 1.8% at $25.86; its 52-week trading range is $20.02 to $30.89.

Unfortunately, it doesn’t look financial terms of this alliance were not disclosed.

Jon C. Ogg
May 20, 2008

Posted on: May 20, 2008 – 1:08 pm in Healthcare, ,

ETF Launch: PowerShares India Portfolio (PIN, INFY, IBN, SAY, SLT, TTM, WIT)

We have now seen two Indian stock ETF’s successfully launch in the last few weeks.  This morning there was another ETF launch on NYSE, although you can see the February news release with the full details.  The PowerShares India Portfolio Fund Exchange Traded Fund listed under the ticker symbol "PIN" and began trading on NYSE Arca today.  This ETF is based on the Indus India Index and tracks the performance of the Indian equity markets as a whole with representation across the consumer products, information technology, health sciences, financial services, and heavy industry sectors.

According to the press release at NYSE, the following NYSE listed ADR shares are a part of the index currently included in the Indus India Index:

  • Infosys Technologies Ltd. (NASDAQ: INFY), ICICI Bank (NYSE: IBN) Satyam Computer Services (NYSE: SAY), Sterlite Industries (NYSE: SLT), Tata Motors (NYSE: TTM), Wipro Ltd. (NYSE: WIT)

As a reminder, because of percentage foreign ownership limitation rules and because of ADR conversions, many US-traded ADR’s actually trade at premiums to shares traded locally in India.  WisdomTree also recently launched an ETF that tracks Indians stocks at the local exchange level.

Jon C. Ogg
March 5, 2008

Posted on: March 5, 2008 – 12:58 pm in ETF, , , , , , ,