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News Breaks
January 10, 2014
11:38 EDTINFY, WIT, CTSHInfosys 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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July 30, 2014
09:31 EDTWITWipro announces partnership with OpenLink
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July 24, 2014
09:24 EDTWITWipro sees Q2 IT Services revenue $1.77B-$1.81B
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09:14 EDTWITWipro reports Q1 EPS 14c, consensus 13c
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July 18, 2014
11:25 EDTINFYOptions with decreasing implied volatility
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July 17, 2014
17:29 EDTWITWipro in strategic outsourcing engagement with ATCO
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11:12 EDTINFYOptions with decreasing implied volatility
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