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Stock Market & Financial Investment News

News Breaks
January 10, 2014
11:38 EDTINFY, CTSH, WITInfosys hits 52-week high after raising full year revenue view
Shares of IT services consultant Infosys (INFY) are rallying after the company’s third quarter results exceeded expectations and it raised its full year revenue view. WHAT'S NEW: Infosys reported third quarter earnings per share of 81c and revenue of $2.1B, compared to analysts’ consensus estimates of 75c and $2.08B, respectively. The company raised its fiscal 2014 revenue growth outlook to 11.5%-12% from 9%-10%, citing an improving global economic environment. ANALYST REACTION: This morning, analyst commentary was positive on Infosys. Citigroup said it maintains its positive view on Infosys and kept a Buy rating on the stock. Citi noted that Infosys management suggested that there is likely to be slight uptick in demand, with U.S. and Europe on the recovery path. Another firm, RW Baird, maintained an Outperform rating with price target of $65. Baird said it expects the stock to trade up 3 to 4% today based on the company's Q3 results, which it called "solid." PRICE ACTION: Infosys shares trading in New York rose $2.92 or 5.2% to $59.07 on heavy volume in morning trade. Earlier in the session, the stock hit a fresh 52-week high of $59.52. Over the past twelve months, the stock is up 34%. OTHERS TO WATCH: Infosys’ competitors include Wipro (WIT) and Cognizant (CTSH), which are both higher in morning trading as well.
News For INFY;WIT;CTSH From The Last 14 Days
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January 26, 2015
09:14 EDTWITRiT Technologies and Wipro sign cooperation agreement
RiT Technologies (RITT) announced that it has signed an MOU with Wipro (WIT). Under the agreement, the parties will cooperate in identifying relevant projects in India and customizing their integrated solutions for projects, to maximize their business in India. The cooperation between RiT and Wipro seeks to address challenges faced by IT departments in dynamic, complex and geographically distributed environments, along with the rising demand for bandwidth, storage and computing power with limited space and resources. RiT is forming this partnership as a result of the growing demand in India for innovative IT solutions. IT spending in India is projected to reach a total of $73.3 billion in 2015, a 9.4 percent increase from the $67.1 billion forecast for 2014, according to Gartner.
January 23, 2015
07:39 EDTCTSHCognizant reinstated with an Outperform at Credit Suisse
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January 16, 2015
09:37 EDTWITWipro announces retirement of CFO Suresh Senapaty
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09:33 EDTWITWipro sees Q4 revenue $1.81B-$1.85B, consensus $2.04B.
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09:32 EDTWITWipro reports Q3 EPS 14c, consensus 14c
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January 14, 2015
10:00 EDTCTSHOn The Fly: Analyst Initiation Summary
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09:04 EDTCTSHCognizant initiated with a Buy at Monness Crespi
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January 13, 2015
07:56 EDTCTSHCognizant resumed with an Overweight from Neutral at JPMorgan
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