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Stock Market & Financial Investment News

News Breaks
April 15, 2014
11:23 EDTACN, WIT, IBM, INFY, CTSHInfosys 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.
News For INFY;WIT;CTSH;IBM;ACN From The Last 14 Days
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July 20, 2015
19:55 EDTIBMIBM falling after Q2 earnings shows further decline in revenues
After the close, IBM (IBM) reported second quarter earnings and backed its fiscal 2015 guidance. WHAT'S NEW: IBM reported Q2 earnings per share of $3.84, above consensus estimates of $3.78, and Q2 revenue of $20.8B, below analyst expectations of $20.95B. IBM said Global Technology Services segment revenues were down 10% percent, Software segment revenues were down 10%, and Systems Hardware segment revenues were down 32%, although IBM noted that revenues from the its strategic imperatives -- cloud, analytics, and engagement -- increased more than 20% year-to-date. The company also backed its FY15 EPS guidance of $15.75-$16.50, against a consensus of $15.88. During the earnings conference call, management said the company expected Q3 revenue to be similar to that of Q1, which was $19.6B, below the Q3 revenue consensus of $19.98B. WHAT'S NOTABLE: On its conference call, IBM stated that it expects the currency impact for FY15 to be worse than it anticipated 90 days ago. ANALYST REACTION: Research firm Cantor put out a note following the earnings announcement stating that IBM delivered a "healthy Q2" and the firm maintained its Buy rating and $198 price target on the stock. The firm added that "IBM represents an attractive value" due to its 3% dividend yield and 35% P/E discount to the S&P 500. PRICE ACTION: Shares of IBM are down 5.2% to $164.25 in after-hours trading.
19:02 EDTIBMOn The Fly: After Hours Movers
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17:20 EDTIBMIBM sees currency impact for FY15 worse than saw 90 days ago
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17:01 EDTIBMIBM sees Q3 revenue similar to Q1 revenue
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16:41 EDTIBMIBM Q2 Cloud revenue up more than 50% as reported
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16:17 EDTIBMIBM revenues from strategic imperatives up more than 20% year-to-date
Revenues from the company’s strategic imperatives --- cloud, analytics, and engagement --- increased more than 20% year-to-date, more than 30% adjusting for currency and the divested System x business. Total cloud revenues increased more than 50%, more than 70% adjusting for currency and the divested System x business year-to-date, and is $8.7B over the last 12 months, adjusted for the divested System x business. The annual run rate for cloud delivered as a service -- a subset of the total cloud revenue -- increased to $4.5B from $2.8B in the second quarter of 2014. Revenues from business analytics increased more than 10%, more than 20% adjusting for currency, year-to-date. Revenues from mobile more than quadrupled, and social revenues increased more than 30%, more than 40% adjusting for currency, both year-to-date.
16:13 EDTIBMIBM reports Q2 revenue from Systems Hardware down 32%
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16:10 EDTIBMIBM reports Q2 revenues from the Software segment were doen 10%
Revenues from the Software segment were down 10% to $5.8B, down 3% adjusting for currency compared with the second quarter of 2014. Revenues from IBM’s key middleware products, which include WebSphere, Information Management, Tivoli, Workforce Solutions and Rational products, were $4B, down 7%, flat adjusting for currency, year-to-year. Operating systems revenues of $0.4B were down 17% percent, down 9% percent adjusting for currency year-to-year.
16:08 EDTIBMIBM reports Q2 Global Technology Services revenues down 10%
Global Technology Services segment revenues were down 10% percent, up 1% percent adjusting for currency and the divested System x business, to $8.1B. Global Business Services segment revenues were down 12%, down 3 percent adjusting for currency, to $4.3B. The estimated services backlog as of June 30 was $122B, up more than 1% year-to-year adjusting for currency.
16:06 EDTIBMIBM backs FY15 EPS $15.75-$16.50, consensus $15.88
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16:04 EDTIBMIBM reports Q2 EPS $3.84, consensus $3.78
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16:01 EDTIBMOptions Update; July 20, 2015
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15:10 EDTIBMIBM July weekly 172.5 straddle priced for 4.1% movement into Q2
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15:07 EDTIBMIBM July weekly volatility elevated into Q2 and outlook
IBM July weekly call option implied volatility is at 48, August is at 23, September is at 19 compared to its 52-week range of 12 to 28, suggesting large near term price movement into the expected release of Q2 results on July 20.
15:01 EDTIBMNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include IBM (IBM), consensus $3.78... Canadian National Railway (CNI), consensus $1.05... Crown Holdings (CCK), consensus $1.01... Zions Bancorp (ZION), consensus 38c... Hexcel (HXL), consensus 61c... Brown & Brown (BRO), consensus 44c... Steel Dynamics (STLD), consensus 22c... Werner (WERN), consensus 42c.
14:44 EDTINFYInfosys volatility increases into Q1 and outlook
Infosys August call option implied volatility is at 34, September is at 29; compared to its 52-week range of 21 to 41, suggesting large near term price movement into the expected release of Q1 results on July 21.
13:16 EDTINFYInfosys technical comments ahead of results
The stock has been trading in a sideways range for the last several weeks bound by $15.25 at the low and $16.35 at the high. If the news is bullish, a breakout above the range at $16.35 would see next resistance at $17.05. Thereafter resistance would be at $17.70 and $18.18. If the news is bearish, a breakdown below $15 would see next support at $14.61. The irregularly-shaped potential head and shoulders pattern would also become active. That pattern could reach the $12 to $11.50 area over time if nothing interrupts its progress.
12:40 EDTIBMEarnings Watch: IBM up 4% since last quarterly report
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10:45 EDTIBMIBM technical comments ahead of earnings
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08:16 EDTACNAccenture acquires full ownership stake in Solium from BBVA
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