Sponsored Links 
No Ests for SAY
The saga of Satyam Computer Services Ltd (SAY - Analyst Report) appears to be coming full circle now with the arrest of both the company's ex-CEO and ex-CFO, along with the interim management's announcement that it'll make all attempts to clean up its books and appoint a new auditor.
A new Board is being formed to spearhead the task of salvaging the company, and 3 members have already been appointed by the Government of India itself.
The option of a merger/takeover is on the table, although it is abundantly clear that there are no suitors at the current time. Recently, the Indian government announced that it would not step up to help Satyam with any financial assistance, citing the company's current receivables of approx. $350 million. Given the recent developments, we are downgrading SAY shares to a Sell and have suspended our estimates at the current time.
Udayan Mukherjee contributed to the report.
Read the full analyst report on SAY
 |
 |
 Share |
 RSS |
 Rate Pos |
 Rate Neg |
 Comment |
|
|
||||||
Free Stock Analysis From Zacks
Includes Zacks Long-Term Recommendation and Target Price
Loading Stories...Related Content
Best Stocks. Best Insight. Join Now...it's FREE!
Over 550,000 investors look forward to the timely insights in our email newsletter; Zacks Profit from the Pros. In each daily issue you will find:
- Free Four Zacks #1 Rank "Strong Buy" Stocks
- Free Timely Market Commentary
- Free Wealth Management Tips
- Free Profitable Strategy Screens
- Free Bull and Bear Stocks of the Day
Zacks FREE Registration
X Close
Loading Stories...Most Popular on Zacks.com
0.00 %
More Zacks Resources
Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.
Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.
Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.
My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.
More Zacks Links
| Market Summary | Feb 10, 2010 04:02 am ET |
150.25
[CLICK TO CLOSE X]