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Stock Market & Financial Investment News

News For ACN;CTSH;IBM;HPQ;WIT;INFY From The Last 14 Days
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February 11, 2016
09:33 EDTWITWipro downgraded to Equal Weight from Overweight at Morgan Stanley
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09:02 EDTWITWipro to acquire HealthPlan Services for $460M
Wipro Limited announced that it has signed a definitive agreement to acquire HealthPlan Services from Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry. As part of the agreement, Wipro will acquire 100% of HealthPlan Services' shares for a purchase consideration of $460M. This transaction is subject to customary closing conditions and regulatory approvals and is likely to be completed in next 60 to 90 days.
February 10, 2016
15:41 EDTIBMIBM heads lower, may test 52-week low
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10:00 EDTINFYInfosys McCamish, M Financial extend BPO contract to 2025
Infosys McCamish Systems LLC, an Infosys BPO company, and M Financial Group announced a 10-year extension of their BPO contract till 2025. For the last 15 years, Infosys McCamish has been managing the customer care center, policy administration, and claims processing activities for Magnastar.
05:38 EDTACNRSA and Accenture extend BPO agreement for insurance services
RSA has extended its relationship with Accenture, selecting the company as its preferred supplier for insurance business process outsourcing services for an additional six years to 2021. Under the new contract, Accenture will provide RSA UK with back-office administration and customer support services across its sales, service, claims and finance operations, supporting both direct customer and intermediated businesses. Accenture will also identify additional opportunities for standardization, automation and cross-training to help RSA deliver a superior customer-focused operation.
February 9, 2016
08:08 EDTIBMIBM Consolidated selected by Edison companies as provider
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February 8, 2016
09:10 EDTCTSHCognizant hits fresh 52-week low after earnings
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09:03 EDTWITWipro awarded 5-year management contract by ASSA ABLOY
Wipro announced that it has won an IT infrastructure transformation contract from the ASSA ABLOY Group, headquartered in Sweden. As part of the five-year agreement, Wipro will consolidate ASSA ABLOY's existing data centers in the EMEA region and implement a cloud-based service model, which will include IaaS and PaaS. The deployment will leverage Wipro's BoundaryLess Data Center offering and will provide a full suite of IT infrastructure management services to ASSA ABLOY's global organisation. This solution will bring in a high level of agility, and a consumption-based IT service model powered by a user-friendly service catalog.
07:26 EDTACNThe FDIC and Federal Reserve Bank of San Francisco to hold a conference
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06:08 EDTCTSHCognizant sees FY16 revenue $3.32-$3.44, consensus $3.47
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06:08 EDTCTSHCognizant sees Q1 EPS 78c-80c, consensus 81c
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06:06 EDTCTSHCognizant reports Q4 EPS 80c, consensus 78c
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February 5, 2016
06:23 EDTIBM20 companies make alliance to keep down healthcare costs, WSJ says
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06:14 EDTCTSHCognizant volatility elevated into Q4 and outlook
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February 3, 2016
11:33 EDTHPQCiti slashes PC outlook, expresses caution on related stocks
Citi significantly lowered its 2016 PC sales estimates, citing recent negative data points. In conjunction with the call, the firm lowered its estimates for three companies whose results are significantly affected by PC sales: HP Inc. (HPQ), Marvell (MRVL) and Intersil (ISIL). WHAT'S NEW: Citi analyst Jim Silva now expects PC sales to drop 6% this year, down from his previous estimate of a 2% decline. Recent data points indicate that demand for PCs has dropped significantly so far this year, while inventories are above normal, the analyst explained. Constrained budgets and macro concerns are restraining demand for PCs, Silva believes. Meanwhile, "there is not enough evidence" to conclude that the launch of Microsoft's (MSFT) Windows 10 will be a positive catalyst for PC sales this year, Silva said. Citing his view of PC trends, along with increased competition in the printer space, Silva lowered his 2016 EPS estimate for HP to $1.53 from $1.64. Statements by other printer makers, including Xerox (XRX) and Canon (CAJ), suggest that HP's margins on printers will "come under additional pressure," the analyst believes. He lowered his price target on the name to $10.75 from $14.50 and expects the stock to remain range-bound until analysts reduce their estimates further or its end markets improve. Intersil has 20% exposure to the PC market and the sales of its products related to computing are still strongly correlated with PC sales, Citi analyst Atif Malik stated. As a result, the company will face revenue headwinds throughout this year, stated the analyst. Malik, who expects the company's 2016 and 2017 EPS to come in below consensus levels, downgraded the stock to Sell from Neutral and set an $11.50 price target on the shares. Estimating Marvell's PC exposure at about 60%, Malik lowered his 2016 EPS estimate for the company to 42c from 48c and kept a Sell rating on the name. WHAT'S NOTABLE: Hedge fund Starboard Value disclosed this morning that it had bought a 6.7% activist stake in Marvell. The hedge fund said the shares are "undervalued" and The Wall Street Journal, citing sources familiar with the situation, said Starboard is betting the company can its boost margins by cutting costs, perhaps exiting its mobile device business. PRICE ACTION: In late morning trading, HP Inc. fell 3.3% to $9.55, Marvell rose 1.25% to $8.78 and Intersil dropped 4.4% to $11.93.
09:18 EDTHPQCitigroup to hold an analyst/industry conference call
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09:15 EDTIBMIBM acquiring German digital agency exc.io
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07:41 EDTHPQCiti lowers 2016 PC estimates to down 6% from down 2%
Citi analyst Jim Suva says recent data points indicate above normal PC inventories and "materially below seasonal demand" in early 2016. The analyst cut his 2016 PC estimates to down 6% from down 2%, well below IDC's estimate of down 3%. Suva believes there is a lack of evidence to suggest that Microsoft's (MSFT) Windows' 10 launch will drive a PC refresh in 2016. The analyst cut his estimates and price target for HP Inc. (HPQ) and kept a Neutral rating on the name.
06:48 EDTHPQHP Inc. esimates and price target lowered at Citi
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February 2, 2016
06:09 EDTIBMIBM agrees to acquire Aperto, terms not disclosed
IBM announced it has signed a definitive agreement to acquire Aperto, a digital agency with headquarters in Berlin. Upon completion of this transaction, Aperto will to join the IBM Interactive Experience team, supporting IBM's growth in the largest economy in Europe. Aperto's 300-plus employees will continue to serve its roster of clients. The transaction is expected to close in Q1 and is subject to applicable regulatory review and customary closing conditions. Financial details were not disclosed.
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