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^ Thanks for the heads up. I held off getting into GNBT, because it's not really moving.
OFFICIAL STOCK MARKET & ECONOMY THREAD VOL. SCHOOL'S OUT
- Thread in 'General' Thread starter Started by dey know yayo,
- Start date
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I could not find the reason that's triggering IGNT. is it just being pumped? Anyway don't keep any shares overnight if you want to be safe.
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^ The charts look beautiful for IGNT...
I don't see any news driving it though.
I don't see any news driving it though.
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^ Glad to see youre doing well with it. Made like 4K today from my intital position at .0003. Still have 400,000 shares. I set my price target at a lofty .05
Its not looking too lofty now.
Its not looking too lofty now.
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NikeFlight. I don't think its being pumped. Production began for their new product earlier in the month and advertising feedback had come in post marketyesterday. Not sure why the huge jump though so i am somewhat weary. I was thinking last night that we may see 50-100% gains if we were lucky. Not 250-300%
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One of my friends at work (Hartford) found the company. I was working heavily with HEB & CTIC. Couple others like KERX & CVM. I wouldnt put a heavyreccomendation on any of them anymore with the run ups they have seen the past 2 months
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man that is crazy...at first i couldnt fathom the .0002 price range but you two made a killing. wish i could day trade already dammit! anything else to gettoday? should i go in at 11 cents?
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I've been playing IGNT and SAY today. I'm also looking to get back into SYNJ. My idiotic friend could've made $35K profit if he would've soldat HOD today.
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nice...hows the company synj? i want to check it out first, but its at the days low right now at .0022 should i cop?
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I would wait for SYNJ. It should dip a little more. It needs to fill the gap...
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Today has been a good day. Chi, if you want to throw me a pair of kicks for the heads up on IGNT, feel free
jk.
kinda
jk.
kinda
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Another good eod play I found is SQNM... got in on the run but up $3K on it right now
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hey chi and schae...any other stock picks before they actually go up? i feel like im always a day late...btw i cnt day trade yet...
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Watch GNVC, IGNT, SYNJ, and SQNM...these are all good for trading though. I don't know about holding them..
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Upon two days of fundamental analysis, my friend wants to LONG this stock. I bought a few shares to play with and it shot up. He's recommends we go in.
Thoughts on SAY for longterm though? It looks like a ten bagger. I usually don't mess with stocks this cheap, but the financials look nice.
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I'll assist on the hold side. I like to watch FDA approvals and work with the run up before the approval date. I usually sell before they get approved ordenied bc the companies tend to run up in the weeks before the date.
HEB for instance
Got in at .83
Out around 3.00
CTIC in at .08 and got out at varying times from .55 to 1.70
My thoughts are KERX & CVM as possibles but always do your own DD
You can always research and find a listing of upcoming approval dates.
HEB for instance
Got in at .83
Out around 3.00
CTIC in at .08 and got out at varying times from .55 to 1.70
My thoughts are KERX & CVM as possibles but always do your own DD
You can always research and find a listing of upcoming approval dates.
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I would also like some insight on SAY. Good looking numbers.
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Basically.
I want to know if this the real deal or a daytrader's wet dream.
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Numbers do look good, but I don't know much about the company. I wish I can tell you something, but I'm in to trade it. I look at the charts and ifthere is any news out, I jump on it. I'll see if I can pull out some info on lvl 2..
DJ 2nd UPDATE: Satyam Reports Surprise 3Q Profit;Shares Surge
(Adds details, analysts' comments)
By Deepali Gupta and Romit Guha
Of DOW JONES NEWSWIRES
MUMBAI (Dow Jones)--Satyam Computer Services Ltd. (500376.BY) - which is recovering from India's biggest-ever corporate scandal -Tuesday surprised the market after announcing it had eked out a profit in the third quarter.
Investors cheered as the software company said it chalked up an unaudited consolidated net profit of INR1.60 billion ($33.7 million)in the October-December quarter, and that it had a cash balance of INR3.73 billion on March 31.
Satyam shares hit their 10% upper limit at INR66.85 in intraday trade on the news, and ended at the same level in a strong broadermarket where the benchmark Sensex closed 3.1% higher.
"The company is still cash-positive, and it is not making losses as we were fearing, so this is good news," said ananalyst.
Satyam was plunged into turmoil on Jan. 7 when founder and then-chairman B. Ramalinga Raju confessed to cooking the company'sbooks, overstating profit and revenue, and creating fictitious cash balances.
Raju had said revenue for the July-September 2008 period was INR21.12 billion - rather than the INR27 billion the company hadreported - and that operating profit was INR610 million, not INR6.49 billion.
Revenue from exports during the October-December quarter was INR22.97 billion while that from the domestic market was INR1.18billion, said Satyam, adding that these figures were made available to bidders in March.
Satyam didn't provide year-earlier numbers - which are in the process of being restated - but it did give figures for the firsttwo months of the 2009 calendar year.
On an unconsolidated basis, February revenue was INR6.76 billion with net profit of INR520 million and an operating margin of 17.46%,compared with INR6.81 billion revenue, INR40 million profit and operating margin of 8.96% in January.
The company had outstanding loans from banks worth INR4.69 billion as on March 31.
As at March end, the company had forward and options contracts worth $164 million, with total mark-to-market losses estimated atINR1.10 billion ($22 million).
Satyam is currently in the process of restating its results for the last six years and has appointed Deloitte and KPMG for thepurpose.
The company said it has no audited results since June 30, 2000. Price Waterhouse, the Indian affiliate of PriceWaterhouseCoopers,audited Satyam's financial statements from the quarter ended June 30, 2000, through Sept. 30, 2008. It said Jan. 13 that its accounts shouldn't berelied upon.
Satyam said that since the results reported Tuesday haven't been verified by an independent auditor, "there can be noassurance that any such information is accurate."
It added that the final audited results may be "materially higher or lower than projected."
Satyam's financial figures boosted Tech Mahindra Ltd.'s (532755.BY) shares, which ended 25.5% higher at INR744.20 on the BSE.In April, Tech Mahindra bought 31% of Satyam via a preferential share issue at INR58 per share. The company is making an open offer at the same price for anadditional 20% of the company.
Legal Challenges
Among the challenges facing Tech Mahindra, Satyam's new owners, are legal disputes. There are two litigation cases against Satyamand four disputes with companies it had acquired, the company said.
The first case is a class action suit in the U.S. brought on by holders of American Depositary Receipts in the wake of Raju'srevelations.
"The company has not yet been required to reply to the complaints, but anticipates that, in accordance with U.S. procedures, itwill vigorously defend itself," Satyam said.
The second case is with mobile payment solutions company Upaid Systems, and is scheduled for trial in September.
Upaid is seeking over $1 billion in punitive damages, accusing Satyam of fraud and forgery on work Satyam did forUpaid.
Satyam is also in the midst of discussions to resolve an immediate $40 million claim made by Caterpillar Inc. for the acquisition ofits market research and analytics arm. Satyam had issued promissory notes to pay out this amount over a undisclosed period of time.
The company is also negotiating settlements of similar claims from Bridge Strategy Group and S&V Management Consultants, which itacquired earlier, and joint venture partner Venture Global Engineering LLC.
Some Employees Leave, Clients Pull Business
The scandal has taken a toll on the company's staff strength with 2,348 employees leaving the company, excluding itssubsidiaries, in January and February. As on March 28, Satyam, excluding subsidiaries, had 41,622 employees as against 45,049 at the end of January and 44,120at February end, the company said.
Also Tuesday, it said 24 clients withdrew part of their purchase orders between Jan. 7 and March 26, amounting to an orderbook cut of$91 million over the next year. Nineteen withdrew completely, while contracts with 23 clients expired, the company said.
Satyam's fall in revenue from client attrition has been lower than expected, analysts said.
But some skepticism remains as analysts believe that more clients canceled orders in March and April.
The company won 215 new deals orders worth $380 million in the Jan. 7 to March 26 period.
The company's outstanding receivables are high at INR19.11 billion as on Feb 28. Of this, INR2.22 billion has been overdue formore than 180 days.
Typically, technology companies write off receivables pending for longer than 180 days, which could prove a big negative for Satyam,a Mumbai-based analyst said.
-By Deepali Gupta and Romit Guha, Dow Jones Newswires; 91 22 6145 6107; [email protected]
DJ 2nd UPDATE: Satyam Reports Surprise 3Q Profit;Shares Surge
(Adds details, analysts' comments)
By Deepali Gupta and Romit Guha
Of DOW JONES NEWSWIRES
MUMBAI (Dow Jones)--Satyam Computer Services Ltd. (500376.BY) - which is recovering from India's biggest-ever corporate scandal -Tuesday surprised the market after announcing it had eked out a profit in the third quarter.
Investors cheered as the software company said it chalked up an unaudited consolidated net profit of INR1.60 billion ($33.7 million)in the October-December quarter, and that it had a cash balance of INR3.73 billion on March 31.
Satyam shares hit their 10% upper limit at INR66.85 in intraday trade on the news, and ended at the same level in a strong broadermarket where the benchmark Sensex closed 3.1% higher.
"The company is still cash-positive, and it is not making losses as we were fearing, so this is good news," said ananalyst.
Satyam was plunged into turmoil on Jan. 7 when founder and then-chairman B. Ramalinga Raju confessed to cooking the company'sbooks, overstating profit and revenue, and creating fictitious cash balances.
Raju had said revenue for the July-September 2008 period was INR21.12 billion - rather than the INR27 billion the company hadreported - and that operating profit was INR610 million, not INR6.49 billion.
Revenue from exports during the October-December quarter was INR22.97 billion while that from the domestic market was INR1.18billion, said Satyam, adding that these figures were made available to bidders in March.
Satyam didn't provide year-earlier numbers - which are in the process of being restated - but it did give figures for the firsttwo months of the 2009 calendar year.
On an unconsolidated basis, February revenue was INR6.76 billion with net profit of INR520 million and an operating margin of 17.46%,compared with INR6.81 billion revenue, INR40 million profit and operating margin of 8.96% in January.
The company had outstanding loans from banks worth INR4.69 billion as on March 31.
As at March end, the company had forward and options contracts worth $164 million, with total mark-to-market losses estimated atINR1.10 billion ($22 million).
Satyam is currently in the process of restating its results for the last six years and has appointed Deloitte and KPMG for thepurpose.
The company said it has no audited results since June 30, 2000. Price Waterhouse, the Indian affiliate of PriceWaterhouseCoopers,audited Satyam's financial statements from the quarter ended June 30, 2000, through Sept. 30, 2008. It said Jan. 13 that its accounts shouldn't berelied upon.
Satyam said that since the results reported Tuesday haven't been verified by an independent auditor, "there can be noassurance that any such information is accurate."
It added that the final audited results may be "materially higher or lower than projected."
Satyam's financial figures boosted Tech Mahindra Ltd.'s (532755.BY) shares, which ended 25.5% higher at INR744.20 on the BSE.In April, Tech Mahindra bought 31% of Satyam via a preferential share issue at INR58 per share. The company is making an open offer at the same price for anadditional 20% of the company.
Legal Challenges
Among the challenges facing Tech Mahindra, Satyam's new owners, are legal disputes. There are two litigation cases against Satyamand four disputes with companies it had acquired, the company said.
The first case is a class action suit in the U.S. brought on by holders of American Depositary Receipts in the wake of Raju'srevelations.
"The company has not yet been required to reply to the complaints, but anticipates that, in accordance with U.S. procedures, itwill vigorously defend itself," Satyam said.
The second case is with mobile payment solutions company Upaid Systems, and is scheduled for trial in September.
Upaid is seeking over $1 billion in punitive damages, accusing Satyam of fraud and forgery on work Satyam did forUpaid.
Satyam is also in the midst of discussions to resolve an immediate $40 million claim made by Caterpillar Inc. for the acquisition ofits market research and analytics arm. Satyam had issued promissory notes to pay out this amount over a undisclosed period of time.
The company is also negotiating settlements of similar claims from Bridge Strategy Group and S&V Management Consultants, which itacquired earlier, and joint venture partner Venture Global Engineering LLC.
Some Employees Leave, Clients Pull Business
The scandal has taken a toll on the company's staff strength with 2,348 employees leaving the company, excluding itssubsidiaries, in January and February. As on March 28, Satyam, excluding subsidiaries, had 41,622 employees as against 45,049 at the end of January and 44,120at February end, the company said.
Also Tuesday, it said 24 clients withdrew part of their purchase orders between Jan. 7 and March 26, amounting to an orderbook cut of$91 million over the next year. Nineteen withdrew completely, while contracts with 23 clients expired, the company said.
Satyam's fall in revenue from client attrition has been lower than expected, analysts said.
But some skepticism remains as analysts believe that more clients canceled orders in March and April.
The company won 215 new deals orders worth $380 million in the Jan. 7 to March 26 period.
The company's outstanding receivables are high at INR19.11 billion as on Feb 28. Of this, INR2.22 billion has been overdue formore than 180 days.
Typically, technology companies write off receivables pending for longer than 180 days, which could prove a big negative for Satyam,a Mumbai-based analyst said.
-By Deepali Gupta and Romit Guha, Dow Jones Newswires; 91 22 6145 6107; [email protected]
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i would buy say and sqnm on a pullback if there is one
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why the heck did GNVC just shoot up towards the end of market hours?
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any thoughts on SRS and FAZ....i have FAZ at $5.80 and SRS at $30. Im getting obviously owned down about $1000 combined. should i try and wait it out or freeup the monies for something else?
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Damn don't tell me you've been holding them for over a month now.
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Whatever you do, DO NOT hold fas or faz...these are for day trading only! The decay will burn you. I've learned my lesson holding faz...
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thoughts on IGNT for tomorrow?
