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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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August 31, 2014
14:29 EDTWITWipro planning to expand presence in Oman
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13:57 EDTWITDeutsche Bank to hold a conference
Global Emerging Markets 1:1 Conference to be held in New York on September 3-5.
August 27, 2014
10:13 EDTINFYHigh option volume stocks
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August 24, 2014
21:59 EDTCTSHVMware to hold a conference
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August 21, 2014
18:02 EDTWITWipro, CA Technologies partner to deliver testing solutions for DevOps
Wipro (WIT) and CA Technologies (CA) announced that they have expanded their strategic partnership to jointly deliver next generation DevOps solutions for testing. The partnership will enable Wipro to leverage the expanded portfolio of CA Technologies, including service virtualization, release automation/continuous delivery, continuous validation and continuous monitoring solutions to help customers optimize their application development and delivery processes with a DevOps strategy.
August 20, 2014
09:09 EDTINFYFairchild Semiconductor volatility expected to move on deal report
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08:31 EDTCTSHCognizant deal with Health Net has encouraging read through, says Cowen
Cowen noted Cognizant (CTSH) shareholders were concerned over its deal with Health Net (HNT) but noted management feels the deal is a true partnership. The firm feels management's positive comments are encouraging and address the execution and profitability concerns of shareholders. Shares of Cognizant are Outperform rated with a $50 price target.

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