IT outsourcing firm Cognizant (CTSH -14.8%) dives following its Q1 report. Though EPS beat...

|About: Cognizant Technology Soluti... (CTSH)|By:, SA News Editor

IT outsourcing firm Cognizant (CTSH -14.8%) dives following its Q1 report. Though EPS beat estimates, Cognizant's guidance for both Q2 (revenue of $1.79B and EPS of $0.80 vs. consensus of $1.84B and EPS of $0.83) and the whole of 2012 (revenue of $7.34B and EPS of $3.36 vs. consensus of $7.54B and $3.45) was light. A $400M expansion of the company's stock buyback program isn't enough to mollify investors. Rival Infosys (INFY -1.8%) met a similar fate in April.