Posts for Ticker ‘WIT’

India Election Winners By ETF & Shares (PIN, EPI, IIF, IFN, INP, INFY, IBN, REDF, SAY, SLT, TTM, WIT)

India MapIt is rare that you see an election have this large of an impact, but the Indian stock market surged on the new election results.  The Congress Party won a decisive victory in India and this sent Indian stocks up 17% on average.  The move was so large that the Bombay Stock Exchange had to close after already seeing one halt.  This had a huge impact on stocks, which you can see reflected in the share prices in the high pre-market indications of the major ETF’s, closed-end funds, and active ADR’s listed below.

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Posted on: May 18, 2009 – 8:19 am in ADR, ETF, Emerging Markets, Index, Mutual Funds, Politics, Trading Alert, , , , , , , , , , ,

Early Bird Analyst Downgrades (CTSH, INFY, NEM, TKC, WIT, WGOV)

burning-money-picThese are the top pre-market analyst downgrades we have seen very early this Monday morning with well over two hours until the open:

Cognizant Technology (CTSH) Cut to Underperform at Wachovia.
Infosys Technologies (INFY) Cut to Underperform at Wachovia.
Newmont Mining (NEM) Cut to Neutral at JPMorgan.
Turkcell (TKC) Cut to Neutral at HSBC.
WIPRO (WIT) Cut to Underperform at Wachovia.
Woodward Governor (WGOV) Cut to Neutral at Baird.

JON C. OGG

Posted on: March 2, 2009 – 7:10 am in Analyst Calls, , , , , ,

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, , , , , ,

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, , ,

Early-Bird Analyst Upgrades & Downgrades (DKS, IDXX, MA, WIT, ACS, ADP, CHT, FMCN, NT, PTI, TSS)

These are some of the upgrades and downgrades we are seeing from Wall Street this Tuesday morning:

  • Dick’s Sporting Goods (DKS) Raised to Outperform at Baird.
  • IDEXX Laboratories (IDXX) Started as Buy at Piper Jaffray.
  • Mastercard (MA) Raised to Buy at Goldman Sachs.

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Posted on: August 19, 2008 – 6:32 am in Analyst Calls, , , , , , , , , , ,

Many Monday Pre-Market Downgrades (CEG, FIS, FISV, DNA, KBW, NKE, PSO, SHW, SWIR, SWK, WERN, WIT)

These are among the top analyst Downgrades or negative analyst calls affecting shares this Monday morning in pre-market trading:

  • Constellation Energy (NYSE: CEG) Downgraded to Underperform at Jefferies.
  • Fidelity National (NYSE: FIS) Cut to Perform at Oppenheimer.
  • Fiserv (NASDAQ: FISV) Cut to Perform at Oppenheimer.
  • Genentech (NYSE: DNA) Raised to Overweight at Lehman.
  • KBW (NYSE: KBW) Cut to Market Perform at FBR.
  • Nike (NYSE: NKE) Cut to Neutral at HSBC.
  • Pearson plc (NYSE: PSO) Cut to Sell at Deutsche Bank.
  • 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.
  • Sierra Wireless (NASDAQ: SWIR) Target cut to $20 from $25 at CIBC.
  • Stanley Works (NYSE: SWK) Cut to Hold at Deutsche Bank.
  • Werner Enterprises (NASDAQ: WERN) Cut to Sell at UBS.
  • WIPRO (NYSE: WIT) Cut to Underperform at Credit Suisse.

Jon C. Ogg
July 21, 2008

Posted on: July 21, 2008 – 7:52 am in Analyst Calls, , , , , , , , , , , ,

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, , , , , , ,

Top 10 Pre-Market Analyst Calls (BAX, BRK/A, BRK-A, EAT, GU, HTX, INFY, ISRG, SAT, SBUX, WIT)

These are not the only impact analyst calls this Tuesday, but these are the ones 247WallSt.com is focusing on in early pre-market trading:

  • Baxter (BAX) raised to Buy from Hold at Citigroup.
  • Berkshire Hathaway (BRK-A) started as HOLD at Citigroup.
  • Brinker (EAT) downgraded to Underweight from Hold at Keybanc.
  • Gushan Environmental Energy (GU) started as Buy at Soleil.
  • Hutchison Telecom (HTX) raised to Buy from Sell at Citigroup.
  • Infosys (INFY) raised to Overweight from Equal-Weight at Lehman.
  • Intuitive Surgical (ISRG) downgraded to Market Perform from Outperform at Wachovia.
  • Satyam Computer (SAY) raised to Overweight from Underweight at Lehman.
  • Starbucks (SBUX) raised to Neutral from Sell at Banc of America.
  • Wipro (WIT) raised to Overweight from Underweight at Lehman.

Jon C. Ogg
January 8, 2008

Posted on: January 8, 2008 – 7:44 am in Analyst Calls, , , , , , , , , , ,

Pre-Market Stock News (July 19, 2007)

(AMTD) TD Ameritrade trading up 1% after beating and raising target.
(AVCI) Avici Systems trading up 29% on higher revenue guidance after earnings.
(BAC) $1.28 EPS vs $1.20 estimate.
(CAL) Continental $2.10 vs 1.84 estimate.
(CTXS) Citrix trading up 11% after beating revenues and two upgrades so far.
(EBAY) eBay trading down 1% after beating earnings, but lower listings.
(F) Ford bids due today for Rover and Jaguar units.
(HOG) Harley Davidson $0.14 EPS vs $0.13 estimate.
(IBM) IBM traded up 4% after beating earnings.
(JNPR) Juniper Networks trading up 8% after earnings and upgrade.
(LOGI) Logitech $0.14 EPS vs $0.16e.
(NAFC) Nash Finch $0.70 EPS vs $0.63 estimate.
(MOT) Motorola $0.02 EPS vs $0.00 estimate, but had already lowered.
(SAP) SAP trading up 8% after earnings rose 8% and a gain in market share.
(SCHL) Scholastic Corp. $0.93 EPS vs $1.02 estimate; sees 2008 $2.35-2.85 vs. $2.67 estimate.
(SPWR) SunPower $0.25 EPS vs $0.21e; down from $0.29 last year.
(UNH) UnitedHealth $0.87 vs $0.81 estimate.
(UNP) Union Pacific $1.65 EPS vs $1.62 estimate.
(VMC) Vulcan Materials lowerials lowered guidance.
(WIT) Wipro $0.12 EPS vs $0.12e.
(WMT) Wal-Mart is reportedly interested in acquiring China’s largest retailer Beijing Hualian, although companies have denied this.

Jon C. Ogg
July 19, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers. 

Posted on: July 19, 2007 – 7:23 am in Pre-Market Activity, , , , , , , , , , , , , , , , , , , , ,