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May 7 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.
1 Comment[Tech, Earnings, On the Move]
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at MarketWatch.com (May 8, 2012)
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at MarketWatch.com (May 7, 2012)
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at MarketWatch.com (May 7, 2012)
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at MarketWatch.com (May 7, 2012)
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at CNBC.com (May 7, 2012)
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Company Description
We are a leading provider of custom Information Technology (IT) consulting and technology services and outsourcing services. Our customers are primarily Global 2000 companies located in North America, Europe and Asia. Our core competencies include Technology Consulting, Complex Systems... More
