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INFY

Infosys Limited, Inc.

6/18/2013, 8:23 PM ET

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Thursday, June 13, 11:25 AM Well, this is one way to get employees on your side: less than 2 weeks after returning as chairman, Infosys (INFY -1%) founder Narayana Murthy has announced across-the-board pay hikes. Shortly before Murthy returned, Infosys announced it would simplify its compensation structure. Meanwhile, Infosys and other IT outsourcing firms (ACN, WIT, CTSH) are closely watching the progress of a U.S. immigration reform bill. Many tech companies are pleased the bill could increase the number of H-1B visas granted each year to as many as 180K from a current 65K, but outsourcing firms are worried about a potential doubling of visa application fees. 2 Comments [Tech]
Monday, June 3, 9:24 AM Infosys (INFY) +5.2% following news co-founder Narayana Murthy is once more chairman. An upgrade to Buy from BofA/Merrill can't be hurting either. Murthy, Infosys' CEO from 1981 to 2002 and chairman from 2002 to 2011, played a pivotal role in the IT outsourcing giant's rise. JPMorgan sees his comeback strengthening Infosys' push to expand into high-margin consulting services as demand for basic outsourcing work slumps. Others, however, think it highlights a leadership vacuum. Comment! [Tech, On the Move]
Monday, June 3, 9:13 AM Premarket gainers: ASI +21%. TEAR +11%. PPHM +12%. OSH +9%. CLP +7%. MTL +6%. SODA +5%. INFY +5%.
Losers: AFFY -27%. INFI -16%. NBG -13%. SNTA -12%. Comment! [On the Move]
Sunday, June 2, 5:20 AM Infosys (INFY) joins the trend of bringing back previously successful managers to try to revive its fortunes, appointing co-founder NR Narayana Murthy as Executive Chairman to replace Kundapur Vaman Kamath. Infosys has struggled since Murthy stepped down as Chairman in 2011 after he helped build Infosys into one of India's largest IT companies. Infosys has also appointed Murthy's son Rohan as his executive assistant. (PR) Comment! [Tech]
Wednesday, May 29, 1:59 AM Infosys (INFY) received a Reduce rating from Nomura research on Tuesday, to no ill effect in U.S. markets (closed +1.67%). The company's stock took a small hit on its home exchange in India Tuesday, following an announcement that on Saturday it plans to announce wage restructuring for all its employees in India, but has so far rebounded this morning. Comment! [Tech]
Friday, April 12, 9:32 AM IBM (IBM -1.1%) and Wipro (WIT -5.7%) join the list of stocks affected by Infosys' (INFY -17.7%) revenue miss and light FY14 (ends March '14) guidance. In addition to forecasting soft revenue, the Indian outsourcing giant says it expects its pricing and margins to be pressured over the near-term, though the company's deal pipeline is said to be slightly better than what it was a year ago. Is the weakness simply a result of macro and government budget issues, or are cloud services also taking a toll? 1 Comment [Tech, Earnings, On the Move]
Friday, April 12, 9:10 AM Premarket gainers: FST +12%. IOC +8%. WLT +7%. ASH +5%.
Losers: INFY -18%. HIMX -9%. MNKD -8%. Comment! [On the Move]
Friday, April 12, 6:47 AM Shares of Infosys (INFY) sink 22.9% premarket after the company reports disappointing Q4 results and issues soft guidance for FY13. The Indian IT concern sees revenue growing between 6% and 10%, compared to the 12% rate expected by analysts. Comment! [Tech, Global & FX, On the Move]
Friday, April 12, 1:01 AM Infosys Ltd ADR (INFY): Q4 EPS of Rs.23.94B beats by Rs.970M. Revenue of Rs.104.54B (+18% Y/Y) misses by Rs.276M. Shares -18% in India. Comment! [Earnings, Breaking News, On the Move]
Monday, March 25, 6:54 PM With demand for basic software outsourcing work slumping, Indian IT services giants such as Infosys (INFY), Wipro (WIT), and HCL are trying to move upmarket into proprietary/value-added offerings. This has meant less hiring of entry-level coders, and more freedom for division chiefs the latitude to run their units as they see fit. Forrester thinks the industry's revenue/employee could grow at 5%/year over the next 2 years, up from 3% over the last 5. (Infosys big data/cloud products: I, II) Comment! [Tech]
Friday, March 15, 11:37 AM An upgrade to Buy from Jefferies lifts Infosys (INFY +1.5%): the firm thinks recent contract wins will yield a normalizing growth outlook, and notes the outsourcing giant's performance has improved over the last 6-9 months even as management commentary hasn't changed. The upgrade comes 3 days after Susquehanna lowered shares to Negative. 1 Comment [Tech, Quick Ideas]
Tuesday, March 12, 9:26 AM Susquehanna downgrades Infosys (INFY) to Negative, citing the outsourcing giant's valuation and high expectations. Shares -1.2%. Infosys currently trades at 15x FY14E (ends March '14) EPS after backing out net cash. Comment! [Tech]
Friday, February 22, 12:58 PM Indian tech stocks Infoysys (INFY +5.1%), Wipro (WIT +3.7%), and Sify (SIFY +2.1%) are rallying today. Earlier this week, Infosys announced BigDataEdge, a software/services platform that integrates giant datasets and delivers insights with the help of algorithms and custom dashboards. Oracle and big data infrastructure software startup Cloudera are launch partners. Infosys has been ramping its investments in differentiated services in the face of weak demand for traditional software outsourcing work. Comment! [Tech, On the Move]
Friday, January 11, 12:45 PM Midday top 10 gainers: UPIP +31%. KGJI +20%. INFY +17%. DNDN +15%. REDF +14%. FLML +14%. BBY +12%. SIFY +11%. ICAD +10%. BCRX +10%.
Midday top 10 Losers: NEWL -29%. ARQL -15%. YOD -15%. PDEX -12%. BV -11%. RGLS -10%. FARO -9%. CENX -9%. MY -9%. STXS -9%. Comment! [On the Move]
Friday, January 11, 9:38 AM Low expectations are doing wonders for Infosys (INFY +18.4%), which has taken off following its FQ3 beat. With full-year figures aided by the beat, the company is now guiding for FY13 (ends March 31) revenue of at least $7.45B and EPS of at least $2.97, above a consensus of $7.32B and $2.95. 8 major outsourcing deals with a combined value of $731M were signed, and cloud engagements (previous) rose by 20 Q/Q to 190. Gross margin, hurt by rising wages, fell 100 bps Q/Q and 600 bps Y/Y to 37%. WIT +6.6%. CTSH +4.2%. ACN +1%. (PR) Comment! [Tech, On the Move, Earnings]
Friday, January 11, 9:10 AM Premarket gainers: UPIP +30%. INFY +15%. DNDN +13%. BBY +7%.
Losers: ARQL -16%. KBR -9%. SANW -8%. OCZ -7%. JCP -6%. Comment! [On the Move]