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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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February 10, 2016
10:00 EDTINFYInfosys McCamish, M Financial extend BPO contract to 2025
Infosys McCamish Systems LLC, an Infosys BPO company, and M Financial Group announced a 10-year extension of their BPO contract till 2025. For the last 15 years, Infosys McCamish has been managing the customer care center, policy administration, and claims processing activities for Magnastar.
February 8, 2016
09:10 EDTCTSHCognizant hits fresh 52-week low after earnings
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09:03 EDTWITWipro awarded 5-year management contract by ASSA ABLOY
Wipro announced that it has won an IT infrastructure transformation contract from the ASSA ABLOY Group, headquartered in Sweden. As part of the five-year agreement, Wipro will consolidate ASSA ABLOY's existing data centers in the EMEA region and implement a cloud-based service model, which will include IaaS and PaaS. The deployment will leverage Wipro's BoundaryLess Data Center offering and will provide a full suite of IT infrastructure management services to ASSA ABLOY's global organisation. This solution will bring in a high level of agility, and a consumption-based IT service model powered by a user-friendly service catalog.
06:08 EDTCTSHCognizant sees FY16 revenue $3.32-$3.44, consensus $3.47
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06:08 EDTCTSHCognizant sees Q1 EPS 78c-80c, consensus 81c
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06:06 EDTCTSHCognizant reports Q4 EPS 80c, consensus 78c
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February 5, 2016
06:14 EDTCTSHCognizant volatility elevated into Q4 and outlook
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