looks like they are making everybody wait over the weekend. i wonder if they hold or sell :shrug:
Stock Market Thread - ALL COMBINED
- Thread starter vinnie
- Start date
Sold short COF @ 27.83, target of 24.33, credit card problems and growing layoffs/un-employment to move this downward, imho.
might be good to hold onto some LEA in case things 'pop' over the weekend.. :00hour
otherwise...:sadwave:
otherwise...:sadwave:
:mj07:
good one vinny, took it on the chin slightly (paper) closed at 28.18, I seriously believe over the next 6 weeks this thing slides, only problem should be other shorts covering from the 50, 40 & high 30's area.
my brother-in-ilaw added 25,000 more @ $1.50 & is still holding the other 50 :scared
He's in the know & said GM will get the money :shrug:
SAY closed at 5.70 yesterday after tanking from 12.55 close on monday because of news of no takeover. now they are going to buyback 1/3 of their shares and is trading at 8.08 premarket.
this thing is going to get serious action today. question is; will it go back to 12+ or tank even further :shrug:
this thing is going to get serious action today. question is; will it go back to 12+ or tank even further :shrug:
maybe not a smart move :mj07:
gonna get more if it drops lower, not sure where to get in though.
it's the same damn company and if they buyback 1/3 of their shares it has to be worth 15+ :shrug:
just waiting on official news.
not official yet....
New Delhi: Having infuriated investors with a deal that would have propped up companies of its promoters, Satyam Computers is now looking to mollify shareholders through rewards such as a share buyback or dividend payout.
"We will take the decisions in few days. In the light of whatever has happened, buyback is one of the option... (it) being one of the investor friendly measures that we may consider. We are also discussing whether it will be dividend or buyback," Satyam's CFO Srinivas Valdamani said.
The company on Tuesday announced a USD 1.6 billion deal to acquire Maytas Properties and Maytas Infrastructure, companies run by Satyam chief Ramalinga Raju's sons B Rama Raju and Teja Raju.
Investors' opposition forced Satyam to call off the deal on Wednesday.
Valdamani said the company has a cash surplus of USD 1.1 billion and it was meant for inorganic and organic growth and corporate actions like giving dividends and bonus share or a buyback.
Announcing the decision to call off the acquisition "in light of the setback received from the investors community," Raju said earlier on Wednesday: "We have been surprised by the market reaction to this decision even though we were quite positive about the merits of the acquisition."
The reversal comes within a day of Satyam Board approving the decision to acquire Maytas Properties for USD 1.3 billion and 51 per cent stake in Maytas Infrastructure for USD 0.3 billion. Institutional investors such as Reliance Mutual Fund, SBI Mutual Fund, Templeton Mutual Fund and CLSA, with some of them even threatening to resist the deal.
Satyam shares were down 31.24 per cent at Rs 155.75, while its ADR was down 54.50 per cent at USD 5.7 a share in the US market.
New Delhi: Having infuriated investors with a deal that would have propped up companies of its promoters, Satyam Computers is now looking to mollify shareholders through rewards such as a share buyback or dividend payout.
"We will take the decisions in few days. In the light of whatever has happened, buyback is one of the option... (it) being one of the investor friendly measures that we may consider. We are also discussing whether it will be dividend or buyback," Satyam's CFO Srinivas Valdamani said.
The company on Tuesday announced a USD 1.6 billion deal to acquire Maytas Properties and Maytas Infrastructure, companies run by Satyam chief Ramalinga Raju's sons B Rama Raju and Teja Raju.
Investors' opposition forced Satyam to call off the deal on Wednesday.
Valdamani said the company has a cash surplus of USD 1.1 billion and it was meant for inorganic and organic growth and corporate actions like giving dividends and bonus share or a buyback.
Announcing the decision to call off the acquisition "in light of the setback received from the investors community," Raju said earlier on Wednesday: "We have been surprised by the market reaction to this decision even though we were quite positive about the merits of the acquisition."
The reversal comes within a day of Satyam Board approving the decision to acquire Maytas Properties for USD 1.3 billion and 51 per cent stake in Maytas Infrastructure for USD 0.3 billion. Institutional investors such as Reliance Mutual Fund, SBI Mutual Fund, Templeton Mutual Fund and CLSA, with some of them even threatening to resist the deal.
Satyam shares were down 31.24 per cent at Rs 155.75, while its ADR was down 54.50 per cent at USD 5.7 a share in the US market.
Jack hope you get a run up, careful though, I see a lot of upside resistance, this stock has been as high as $15.00 in the last two months. I am sure you are aware of that, just thinking of the selling pressure in the 10.00 area.
PS I bailed out of COF, Capital One Monday late, I kept seeing resistance at the $26.00 level so took a $1.75 position off of the bad news, late Monday.
Glad I did Fed is going to buy debt per statement yesterday afternoon.:scared
PS I bailed out of COF, Capital One Monday late, I kept seeing resistance at the $26.00 level so took a $1.75 position off of the bad news, late Monday.
Glad I did Fed is going to buy debt per statement yesterday afternoon.:scared
