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Stock Market & Financial Investment News

News Breaks
January 21, 2014
07:10 EDTACN, STOAccenture selected by Statoil to provide finance and control services
Accenture (ACN) announced it has been selected by Statoil ASA (STO) to provide finance and control services globally on an outsourced basis to help the company drive efficiencies and support its global organization. Under the terms of the agreement, Accenture will provide finance and control outsourced services in the areas of joint venture reporting, financial reporting, statutory and tax reporting, production and revenue accounting, financial model and master data, cost allocation, collection and indirect tax reporting, billing and trade accounting.
News For ACN;STO From The Last 14 Days
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April 15, 2014
11:23 EDTACNInfosys falls after quarterly revenue trails estimates
Shares of Infosys (INFY), which consults on business information technology and systems integration, are falling after the company's fourth quarter revenue trailed analysts' consensus estimate. WHAT'S NEW: This morning, Infosys reported fourth quarter earnings per share of 85c and revenue of $2.09B, compared to expectations of 79c and $2.11B, respectively. The company's CEO and Managing Director, S. D. Shibulal, said he was pleased that Infosys was able to double its growth rate for the full year compared to last year, though added that its performance in the last quarter of of the fiscal year had been "disappointing." The company noted that Infosys and its subsidiaries added 50 clients during the quarter and 238 during the year. Infosys forecast FY15 revenue growth of 7%-9%, compared to consensus of $9.06B. WHAT'S NOTABLE: Infosys said its board had decided to increase the dividend pay-out ratio to up to 40% of post-tax profits effective FY14. Infosys' current policy is to pay dividends up to 30% of post-tax profits. OTHERS TO WATCH: Like Infosys, Wipro (WIT) is an IT services and software solution consultant headquartered in India. Others in the business consulting space include Cognizant Technology (CTSH), IBM (IBM) and Accenture (ACN). PRICE ACTION: In late morning trading, Infosys fell $3.49, or about 6.3%, to $52.09 on nearly twice its average daily trading volume. Shares of Cognizant were down about 0.75% to $48.12, while Wipro was up about 2.6% to $13.56.
10:00 EDTSTOOn The Fly: Analyst Initiation Summary
Allscripts (MDRX) reinstated with an Outperform at Raymond James... Amber Road (AMBR) initiated with a Buy at Canaccord... Autonation (AN) coverage assumed with a Market Perform at Wells Fargo... BG Group (BRGYY) initiated with an Outperform at BMO Capital... Borderfree (BRDR) initiated with a Buy at Canaccord... Dean Foods (DF) initiated with a Buy at BB&T... Destination XL (DXLG) initiated with a Buy at Ascendiant... Group 1 Automotive (GPI) coverage assumed with a Market Perform at Wells Fargo... Halozyme (HALO) initiated with a Buy at Citigroup... MakeMyTrip (MMYT) initiated with a Neutral at Goldman... Penske Automotive (PAG) coverage assumed with a Market Perform at Wells Fargo... RPM (RPM) initiated with an Outperform at Wells Fargo... RSP Permian (RSPP) initiated with a Buy at KLR Group... Repligen (RGEN) initiated with a Buy at Jefferies... Spansion (CODE) initiated with a Buy at Sterne Agee... Statoil (STO) initiated with a Market Perform at BMO Capital... TPG Specialty Lending (TSLX) initiated with a Buy at BofA/Merrill... Versartis (VSAR) initiated with a Buy at Citigroup... WWE (WWE) initiated with a Buy at Needham... WebMD (WBMD) reinstated with a Strong Buy at Raymond James.
08:01 EDTSTOStatoil initiated with a Market Perform at BMO Capital
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April 10, 2014
10:00 EDTSTOOn The Fly: Analyst Downgrade Summary
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09:11 EDTSTOStatoil downgraded to Underperform from Neutral at Exane BNP Paribas
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05:40 EDTACNAccenture, SAP expand global alliance through first-of-its-kind agreement
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April 9, 2014
07:35 EDTACNAccenture makes minority investment in Crittercism, terms not disclosed
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April 8, 2014
08:07 EDTACNAccenture to participate in a conference call with Cowen
Cowen Analysts Arnold and Katri, along with Accenture's Global Managing Directors Safavi and Birhanzel, discuss the Company's data analytics and outsourcing businesses on a conference call to be held on April 14 at 12 pm hosted by Cowen.
05:26 EDTSTOStatoil downgraded to Hold from Buy at Societe Generale
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April 7, 2014
10:00 EDTSTOOn The Fly: Analyst Downgrade Summary
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05:43 EDTSTOStatoil downgraded to Sell from Neutral at Goldman

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