Satyam Computer Services Limited (NYSE: SAY) spiked more than 10% in today’s trading, reaching a high of $6.31 before closing at $6.61. Satyam shares have a 52-week range of $4.13- $6.84. They are currently trading above their 50-day and 200-day moving averages. The shares have a support level at $5.18 and a resistance level at $5.76. Year-to-date, the ADRs are up 36.01%.
India-based Satyam is an information technology services company. The company leverages its deep industry and functional expertise. The company is part of the Mahindra Group, which is a global industrial federation of companies and one of the top industrial companies based in India. Satyam has development and delivery centers in the U.S., Canada, Australia, Brazil, UK, Hungary and Singapore, among other countries.
Satyam shares are climbing ahead of the firm’s audited financial results review for fiscal year 2009 and 2010 next week.
Earlier this month, Satyam launched a single-window “Art-to-Part” engagement model for partners in Aerospace and Defense. The new partnership model seeks to cover both design and manufacturing areas to offer a seamless engagement experience for the company’s partners.
Through its new proposal, the company is looking to leverage synergies within the Mahindra Group, using the skill sets and experience from Mahindra Aerospace and Mahindra Defense, both of which specialize in aerospace manufacturing and defense systems.
Last month, Satyam announced the appointment of two Malaysian IT veterans, Azlan Othman and Rasedi Mohamad to drive growth in key industries and solutions segments in Malaysia. Earlier this month, the company appointed Kunihiko Higashi as its new Country Manager in Japan.
· Want more? Check out the message board buzz for SAY
· See which newsletters are recommending this stock pick
· Get breaking news alerts on this stock: http://thestockmarketwatch.com/
- Need fast service and cheap rates from a broker? Buy stock online at my favorite brokerage
- See today’s top stock picks and market analysis
- Want more? Check out the message board buzz for these stocks
- See what newsletters are recommending these stock picks
- Get breaking news alerts on these stocks: http://thestockmarketwatch.com/
- This newsletter has been helping traders make a killing on these stocks. Click here for a 25% discount offer.
About BeaconEquity.com
BeaconEquity.com is committed to producing the highest-quality insight and analysis of small-cap stocks, emerging technology stocks, hot penny stocks and helping investors make informed decisions. Our focus is primarily OTC stocks in the stock market today, which have traditionally been shunned by Wall Street. We have particular expertise with renewable energy stocks, biotech stocks, oil stocks, green energy stocks and internet stocks. There are many hot penny stock opportunities present in the OTC market everyday and we seek to exploit these hot stock gains for our members before the average daytrader is aware of them.
Beacon Equity Group Disclaimer
This newsletter is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Beaconequity.com is a wholly-owned subsidiary of BlueWave Advisors.
While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a real licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
