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Stock Market & Financial Investment News

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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October 24, 2014
13:52 EDTCTSHSS&C Technologies, Cognizant mentioned as long ideas by Adrangi, Bloomberg says
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09:37 EDTWITWipro downgraded to Neutral from Buy at Citigroup
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October 22, 2014
11:49 EDTWITWipro reports Q2 EPS 14c, consensus 14c
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11:48 EDTWITWipro sees Q3 IT Services business revenue $ 1.808M-$ 1,842M
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