Cognizant (CTSH +12.2%) soars after beating Q2 EPS estimates. The IT outsourcing firm expects Q3...

Cognizant (CTSH +12.2%) soars after beating Q2 EPS estimates. The IT outsourcing firm expects Q3 revenue of at least $1.875B and EPS of $0.92 vs. a consensus of $1.88B and $0.86. Full-year guidance is for revenue of at least $7.34B and EPS of at least $3.38 vs. a consensus of $7.34B and $3.37. Cognizant's strong performance in North America (+24% Y/Y in Q2) is offsetting slower European growth (+6%). Up in sympathy: INFY +2.1%. WIT +1.5%. ACN +1.6%. EPAM +3.1%.