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Stock Market & Financial Investment News

News Breaks
January 10, 2014
11:50 EDTGIB, ACNWhite House ends deal with CGI Group over Healthcare.gov, WaPo says
The White House has ended its contract with CGI Group (GIB), the company behind the design of the troubled Healthcare.gov site, reports The Washington Post, citing a person familiar with the matter. The report says the Obama administration will sign a deal with Accenture (ACN) early next week to replace CGI. Reference Link
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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.
08:31 EDTGIBCGI Group extends pact with TD Bank for investment funds platform
CGI (GIB) announces an extension to an existing agreement with TD Bank (TD) that will allow CGI to continue processing TD's mutual fund transactions under a managed services model until as late as 2026.
April 10, 2014
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.
April 2, 2014
08:37 EDTACNWells Fargo to hold a summit
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07:37 EDTGIBCGI Group announces contract renewal with EDP
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