S&P 500
7,582.20
+0.03%
Dow Jones
51,018.80
+0.58%
Nasdaq 100
30,344.40
+0.25%
Russell 2000
2,916.31
-0.54%
FTSE 100
10,378.60
-0.32%
Nikkei 225
66,231.90
+0.67%

Apps & Software

Cognizant Follows IT-Outsourcing Trends South (CTSH, SIP, INFY, CSC)

Photo of Jon C. Ogg
By Jon C. Ogg Updated Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Invalid Image
Cognizant Technology Solutions Corporation (NASDAQ: CTSH) followed suit with the trends of the independent IT-outsourcing by having decent earnings with lower guidance.  Weakness in North America was listed as one of the top causes.

Revenue was in line with estimates at $1.71 billion.  For 2012 Cognizant forecasts $7.34 billion in revenue and profits of $3.36 per share, and that is actually under the Thomson Reuters targets of $7.54 billion in sales  and $3.45 per share in earnings.

Today’s news should not be a surprise to most investors,  Indian IT-outsourcing outfits such as Wipro Ltd. (NYSE: WIT) and Infosys Ltd. (NASDAQ: INFY) as sector leaders.  Now it is Cognizant’s turn for the drop in shares and this one is down over 15% a $59.09 and the 8 million shares traded early this morning is nearly 300% above its normal trading volume.

Wipro shares are down 1% at $9.33 and Infosys shares are down 1.2% at $45.09 in New York trading of the ADRs.

Computer Sciences Corporation (NYSE: CSC) remains ‘challenged’ with its shares at $27.00 versus a 52-week range of $22.80 to $45.14.

JON C. OGG

DISCLOSURE:
INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA(www.finra.org)/SIPC(www.sipc.org). Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov. Probability of Member receiving $1,000 is a probability of 0.026%; If you don’t make a selection in 30 days, you’ll no longer qualify for the promo. Customer must fund their account with a minimum of $50.00 to qualify. Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees. Investing in alternative investments and/or strategies may not be suitable for all investors and involves unique risks, including the risk of loss. An investor should consider their individual circumstances and any investment information, such as a prospectus, prior to investing. Interval Funds are illiquid instruments, the ability to trade on your timeline may be restricted. Brokerage and Active investing products offered through SoFi Securities LLC, Member FINRA(www.finra.org) /SIPC(www.sipc.org). There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batched order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event. Options involve risks, including substantial risk of loss and the possibility an investor may lose the entire investment Before trading options please review the Characteristics and Risks of Standardized Options  Investing in an Initial Public Offering (IPO) involves substantial risk, including the risk of loss. Further, there are a variety of risk factors to consider when investing in an IPO, including but not limited to, unproven management, significant debt, and lack of operating history. For a comprehensive discussion of these risks please refer to SoFi Securities’ IPO Risk Disclosure Statement This should not be considered a recommendation to participate in IPOs and investors should carefully read the offering prospectus to determine whether an offering is consistent with their investment objectives, risk tolerance, and financial situation. New offerings generally have high demand and there are a limited number of shares available for distribution to participants. Many customers may not be allocated shares and share allocations may be significantly smaller than the shares requested in the customer’s initial offer (Indication of Interest). For more information on the allocation process please visit IPO Allocation.
Follow 24/7 Wall St. on Google
Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

Continue Reading

Jon C. Ogg |

Indian IT Outsourcing Woes Continue (WIT, INFY, CTSH, IBM)

Wipro Ltd. (NYSE: WIT) is following the same lead as was recently set by Infosys Ltd. (NASDAQ: INFY). The Indian…

Jon C. Ogg |

Infosys Growth Meets Headwinds (INFY, WIT, CTSH)

Infosys Technologies Limited (NASDAQ: INFY) is now a $40 billion IT-outsourcing outfit.  The company has reported Q2 earnings at $0.65…

Jon C. Ogg |

Business is Good for IT Outsourcers (INFY, WIT, IBM, CSC, CTSH, ACN)

India’s Infosys Technologies Ltd. (NASDAQ: INFY) reported second-quarter earnings today, and EPS came in more than 10% higher than in…

Jon C. Ogg |

ADR Watch: Thanks Infosys, Indian Outsourcing Sinks Ships (INFY, WIT, CTSH)

Infosys Technologies Limited (NASDAQ: INFY) turned in its revenue growth and its expectations for 2011 to 2012.  The results would…

Jon C. Ogg |

Infosys Blows Up IT-Outsourcing Fears (INFY, CTSH, WIT)

Europe is driving even the Indian IT workers to complain.  Infosys Ltd. (NASDAQ: INFY), one of the largest Information technology…

Jon C. Ogg |

Infosys Feels IT-Outsourcing Pressure (INFY)

Infosys Ltd. (NASDAQ: INFY) is the king of IT-outsourcing in India, but today that king is finding itself under fire. …

Douglas A. McIntyre |

Outsourcing Firms Might Face Cost Crunch (INFY, WIT)

The three largest firms in the outsourcing business are based in India. The leader is Tata Consultancy Services, followed by…

Paul Ausick |

IT Outsourcing Firm Cognizant Jumps on Earnings

Cognizant Technology Solutions Corp. (NASDAQ: CTSH) reported second-quarter adjusted earnings per share (EPS) of $0.88 and $1.8 billion in revenue…

Douglas A. McIntyre |

Satyam Turns Out to be a House of Cards (SAY, INFY, WIT, PIN, EPI, IFN)

If you are one of those who cannot stand Indian IT-outsourcing firms, you probably just got another feather in your…

Top Gaining Stocks

Dell Technologies
DELL • Vol: 42,366,555
NetApp
NTAP • Vol: 15,911,807
ServiceNow
NOW • Vol: 68,243,561
IBM
IBM • Vol: 28,527,546
Hewlett Packard Enterprise
HPE • Vol: 86,996,387

Top Losing Stocks

Coterra Energy
CTRA • Vol: 73,319,495
Clorox
CLX • Vol: 4,744,001
ResMed
RMD • Vol: 3,526,686
Intel
INTC • Vol: 191,680,425
Skyworks Solutions
SWKS • Vol: 5,407,806