Infosys' (INFY) guidance cut takes a toll on other IT outsourcing names. CTSH -3.8%. SAPE -2.7%...

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

Infosys' (INFY) guidance cut takes a toll on other IT outsourcing names. CTSH -3.8%. SAPE -2.7% ACN -1.1%. Wipro (WIT) fell 4% on the Mumbai exchange. Infosys also issued a disappointing Q1 report in April, and it was followed by an equally bad report in May from Cognizant. Europe's weak economy and currency are clearly problems, though Gartner has long been voicing concerns about the impact of cloud services on outsourcing.