On Friday, ArcelorMittal (MT) said it planned to launch a tender offer for acquiring a 29.4% stake in Uttam Galva Steels Ltd. (“Uttam Galva"), a leading producer of cold rolled steel, galvanized products and color-coated coils & sheets based in Western India.

The offer price of Rs.120 or $2.46 per share represents a 27% premium over the 2-week volume weighted average and 85% over the 6-month volume weighted average.

Last week, the company had agreed with existing founder, the RK Miglani family, to buy 5.6% shares of Uttam Galva. ArcelorMittal also signed a contract with the RK Miglani family and Uttam Galva in order to become a co-promoter and obtain broad joint control rights in the concern.

Subject to 29.4% of shares being tendered in the offer, ArcelorMittal will hold a 35% equity interest in Uttam Galva. The transaction value for the stake is Rs.5 billion or $103

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DrStockPick.com Stock Report!

Friday September 4, 2009

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Southwest Airlines Co. (NYSE: LUV) announced today that the Company flew 6.7 billion revenue passenger miles (RPMs) in August 2009, a 1.0 percent increase from the 6.6 billion RPMs flown in August 2008. Available seat miles (ASMs) decreased 6.1 percent to 8.3 billion from the August 2008 level of 8.9 billion. The load factor for the month was 80.2 percent, compared to 74.6 percent for the same period last year. For August 2009, passenger revenue per ASM is estimated to have decreased in the five to six percent range as compared to August 2008.

Phoenix

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Chinese stocks plummet, worldly markets follow… what’s behind today’s sell-off… Dan Denning on taking profits in the twilight of the U.S. stock rebound… India reports better-than-expected GDP growth… why our Mumbai partners are still hesitant… Another compelling argument against U.S. banks… Dan Amoss serves the cold, hard data… Plus, signs of the times: American’s vote to throw the bums out while the free market backlash hits Hollywood…

China has once again set the tone for our Monday market forecast. Roll the videotape:

Chinese traders dumped shares early this morning after a popular magazine rumored that the booming Chinese loan market is cooling off. Caijing magazine guessed that the Chinese loaned about $29 billion in August, a 43% crash from July. While that number isn’t official, traders around the red nation raced for the exits. The Shanghai Composite closed down 6.7%, its worst day in

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Patni Computer Systems Ltd. (PTI) hit a new 52-week high yesterday but is still a value stock with a PEG ratio of just 0.93. The IT services company has surprised on estimates 3 out of the last 4 quarters by an average of 38.36%.

Company Description

Patni Computer Systems provides IT services and business solutions to clients around the world including business and technology consulting, infrastructure management services and customer interaction services and business process outsourcing.

Headquartered in Mumbai, India, the company has global delivery centers in 12 cities worldwide and 27 international offices.

Patni Surprised by 60.71% in the Second Quarter

On July 30, Patni reported second quarter estimates that surprised on the Zacks Consensus Estimate by 17 cents. Earnings per share were 45 cents compared to the Zacks Consensus Estimate of 28 cents.

Revenues rose 3.3% to $161.9 million from $156.7 million in the first quarter but

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Asia is poised to become the “new” Detroit.

Here in the United States, at a cost of a mere $3 billion, the “Cash-for-Clunkers” program appears to have given new hope to the U.S. auto industry.

But that new hope is destined to be short-lived.

It’s true that - in terms of value delivered for the money invested - “Cash for Clunkers” has eclipsed every other stimulus program that has been tried. But the program has a projected lifespan of only three months, meaning it can’t reverse the powerful global forces that are destined to turn the U.S. auto market from leader to laggard on the global stage.

Financial Crisis Fallout Reshapes Sector

Thanks to the financial crisis whose impact continues to be felt, worldwide automobile demand had dropped on an overall basis since 2008.

But regional differences are already emerging.

In the United States, for instance, the benchmark seasonally adjusted annual sales rate (SAAR)

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In today’s busy and ever changing market, many companies lose sight of their most important asset: a quality, effective mangement team. As the lifeblood of the company, it is essential to maintain a group that will continue to provide success and notoriety. That is why Energtek, Inc., a prominent alternative energy technology company, is excited to recognize its management team for their outstanding work and dedication to the company’s mission. Energtek is proud of its reputation as a leading clean energy provider, and its management team follows high ethical standards with a commitment to providing alternative energy solutions to businesses and governments worldwide.

Energtek’s management team, comprised of three industry experts, is as diverse as it is prominent. The collective experience of its three team members includes a variety of alternative energy related companies and products, which provides a solid foundation for the company’s

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From the first paragraph of my Saturday commentary…”I don’t know what it is about that [one hour and change] stretch of time between the Sydney close and the London open…but if there is going to be a down day…it starts right there a large percentage of the time.” Any questions? Actually, both gold and silver got sold off the moment that the New York bullion banks opened for business 6:00 p.m. on Sunday night…which is very early Monday morning in Far East trading. Shortly before 3:00 p.m. in Hong Kong, gold had almost made it back to unchanged…and silver was actually up a couple of cents when the hammer fell. The bottom for gold came very shortly after the London a.m. gold fix at 5:30 New York time…and in silver, shortly after the Comex open. The ‘rally’ in the US dollar that started at the same time as the precious

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Suspect Detection Systems Inc., a leading developer of counter terror and crime prevention technology, announced after the closing bell yesterday that it has sold the Cogito rapid interrogation system to a federal law enforcement agency in India. This sale was made after the agency’s extensive evaluation of Cogito technology over a period of several months.

According to the press release, the federal agency will utilize the automated rapid interrogation system to gather pre-crime and post-crime intelligence. The system’s interrogation of suspects and consequent gathering of information will be used to help solve crimes that have already been committed, as well as to help prevent potential crimes and terror attacks from taking place in the future.

Situated in an often volatile region bordering Pakistan, China, Nepal, Bangladesh, Bhutan, and Myanmar, India has distinctive crime and terror prevention needs. The country has suffered many terror

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Source: David and Eric Coffin, Hard Rock Advisory Journal  05/29/2009
The greatest economic realignment since Genghis Kahn took over Eurasia’s trade routes is continuing apace. The west remains mired in an assets contraction of its own making, and the east is refocused on channeling its growth engines into domestic consumption. The resource sector, which is our focus and which has been governed by those growth engines for a decade and half, is indicating at least the expectation of continuing gains in the east. That does not mean we ignore what is going on the developed west, plus Japan.

Most of the planned bad news on the US banking system is now on the table or at least anticipated, in some form. The stress test requirements for US banks at $75 billion of new capital required are workable, though heavily dilutive. There are legitimate doubts that this will actually be sufficient given …

The low for gold was at the Sydney open, and from there it rose slowly and steadily through Far East, London and Comex trading in New York. The high came in electronic trading about an hour after the Comex close. Gold managed to make it to $928…but was not allowed a sniff of $930 yesterday. Maybe today.

Although trading appeared quiet, the usual N.Y. commentator said otherwise…”Today’s up $5 June gold Comex close [at $926.70] was quietly dramatic. A rally effort on the Comex open was contained under $3 on very heavy volume [41,523 lots estimated by 9 a.m.]. Very powerful attempts to move gold up after 12 noon were also blocked. Estimated volume jumped 25.6% in the 12 noon/1 p.m. space for a totally reversed gain of $2. An astonishing 36.4% [20,000 contracts] leap in estimated volume between 1 p.m. and the close [less than a tenth of the trading

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