The weak FQ4 guidance attached to Infosys' (INFY -10%) FQ3 report is affecting shares of rival...

|About: Infosys Limited, Inc. (INFY)|By:, SA News Editor

The weak FQ4 guidance attached to Infosys' (INFY -10%) FQ3 report is affecting shares of rival Wipro (WIT -4.1%), and perhaps also those of IT services kingpin IBM (IBM -1.7%). During its earnings call, Infosys expressed optimism about a turbulent macro environment increasing corporate interest in offshore services, but also suggested IT budgets "could be flat or slightly down" this year.