IT services providers Sapient (SAPE -6.5%) and Cognizant (CTSH -1.8%) sell off after Goldman...

|About: Sapient Corporation (SAPE)|By:, SA News Editor

IT services providers Sapient (SAPE -6.5%) and Cognizant (CTSH -1.8%) sell off after Goldman downgrades shares to Sell on concerns about Euro demand, financial sector woes, and forex. Goldman notes Cognizant and Sapient derive 41% and 31% of their sales, respectively, from the financial sector, and believes Europe's problems are affecting both discretionary and consumer-driven IT spending. Both Cognizant and industry giant Infosys (INFY) offered weak guidance this spring.