Friday, April 12, 8:12 AM
Tech outsourcing stocks are on watch after a stark revenue warning from Infosys rattles the sector. Cognizant Technology Solutions (CTSH) is down 4.8% premarket, while iGATE (IGTE) and Syntel (SYNT) haven't opened up yet for trading.
Comment![Tech, On the Move]
Friday, April 13, 2012, 10:41 AM
IGate (IGTE +9.1%) pops after its Q1 revenues soared by 247% Y/Y to $263M, up from $76M in Q1 2011. Net income was also higher, rising a greater-than-anticipated 35% as the surge in revenue compensated for slightly weaker margins.
Comment![Tech, Earnings, On the Move]
Friday, April 13, 2012, 6:41 AMiGATE (IGTE): Q1 EPS of $0.38 beats by $0.06. Revenue of $263.3M (+247% Y/Y) misses by $8M. (PR)
Wednesday, January 25, 2012, 6:39 AMiGATE (IGTE): Q4 EPS of $0.27 beats by $0.01. Revenue of $268M (+230.5% Y/Y) in-line. (PR)
Friday, December 9, 2011, 10:59 AM
iGate (IGTE +3.5%) gains after RBC initiates coverage with an Outperform rating, noting the potential for 25% annualized EPS growth over the next few years, even assuming a depressed budgeting environment.
Comment![On the Move]
Tuesday, October 18, 2011, 12:23 PM
India-based outsourcing firm Patni Computer Systems (PTI) jumps 15% after reporting better-than-expected Q3 results. Net profit fell 41%, but the decline was not as bad as analysts had feared. iGATE (IGTE +2.5%), which took control of Patni in a joint deal with private equity firm Apax Partners earlier this year, also trades higher on the news.
Comment![Global & FX, Tech, On the Move]
Friday, August 5, 2011, 7:00 AMiGATE (IGTE): Q2 EPS of $0.16 beats by $0.02. Revenue of $170.4M (+155.1% Y/Y) misses by $4M. (PR)
Wednesday, January 19, 2011, 9:57 AM
iGate (IGTE +1%) reports FY 2010 net revenue of $280.6M, up 45%.3 from 2009, and annual earnings/share of $0.90, up from $0.51/share from the prior year. But CEO Phaneesh Murthy warns of a softening Q1 compared to last year's, as companies delay making IT investments. Rival Infosys (INFY +0.4%) expressed similar concerns.
Tuesday, January 11, 2011, 9:42 AM
iGate's (IGTE -0.8%) $1.22B offer for a majority stake in its larger Indian competitor Patni Computer Systems (PTI -3.2%) is making some investors wary that iGate is in over its head. "It’s like a snake swallowing a buffalo, and it’s probably going to take quite some time to digest, probably months," says one analyst.