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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 1, 2014
10:01 EDTINFYInfosys volatility elevated into Q2 and outlook
Infosys October call option implied volatility is at 46, November is at 27, January is at 28, April is at 27; compared to its 26-week average of 32 according to Track Data, suggesting larger price movement into the expected release of Q2 results on October 10.
05:19 EDTINFYInfosys announces strategic relationship with Stanford University
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September 30, 2014
14:04 EDTINFYInfosys extends its relationship with Oracle
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10:02 EDTCTSHOn The Fly: Analyst Initiation Summary
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07:40 EDTCTSH, CTSHCognizant initiated with an Outperform at CLSA
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September 24, 2014
09:38 EDTINFYInfosys downgraded to Neutral from Outperform at Macquarie
Macquarie downgraded Infosys to Neutral due to valuation.
September 18, 2014
05:34 EDTINFYInfosys expands partnership with Microsoft
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