Accenture (ACN - option chain) shares are rising after the company reported Q2 2011 earnings Thursday night, posting a profit of $503.1 million, or 75 cents per share, on revenue of $6.49 billion. Analysts had forecast a profit of 71 cents per share on revenue of $5.73 billion. If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on ACN.
ACN opened Friday morning at $56.47. In morning trading, the stock hit a low of $54.40 and a new 52-week high of $56.78. As of 12:25, ACN was trading at $54.91 up 2.95 (5.7%). The chart for ACN looks bullish and S&P gives ACN a positive 4 STARS (out of 5) buy ranking.
Continue reading Accenture's Q2 Earnings Beat Estimates
NetApp (NTAP) creates innovative storage and data management solutions for small and medium-sized companies around the world. It competes mainly with EMC (EMC), IBM (IBM), HP (HPQ) and Dell (DELL) in the external disk storage systems market.
Over the years NetApp revenues coming from distribution partners (or the indirect channel) have grown significantly and now generate nearly 75% of its total sales. Some of NetApp's major distribution partners include Arrow Electronics, Avnet Hall-Mark and IBM.
Continue reading Accenture Partnership Lifts NetApp
- Oracle (ORCL) to outperform from perform at Oppenheimer.
- Accenture (ACN) to buy from hold at Jefferies.
- Advanced Energy (AEIS) and Applied Materials (AMAT) to overweight from equal weight at Barclays.
- Spreadtrum (SPRD) to buy from hold at Auriga.
- Healthcare Realty Trust (HR) and Tortoise Energy Capital (TYY) to outperform from neutral at RW Baird.
- Global Payments (GPN) to equal weight from underweight at Morgan Stanley.
- CBS (CBS) to buy from neutral at BofA/Merrill.
- Sonic (SONC) to outperform from neutral at Cowen.
Continue reading Analyst Calls: ACN, AMAT, AZN, BBT, CBS, GPN, IP, ORCL, PKG, SONC, V ...
This past weekend the European Union cast a bailout plan for Ireland
that should be noted as another highlight reflecting not just the problems in Ireland but more broadly the lackluster potential for anything but a meager increase in the world economy over the next few years. Some will be affected more the others and today Ireland just happens to be the attention grabber, with passions running deep:
- "This is not a rescue plan. It is the longest ransom note in history: Do what we tell you and you may, in time, get your country back," said Fintan O'Toole, a commentator and author who led a weekend protest by labor-union activists in central Dublin against the imminent bailout. He called the average interest rate being demanded "viciously extortionate."
Despite all the government printing presses running overtime, inflation does not appear to be on the horizon. Wages are going nowhere, rents are stagnant, and pricing power is modest except for the very few. The biggest inflationary pressure has come from oil prices over the past decade, and that is still the most likely commodity to wreak havoc going forward if there is inflationary pressure. Though the clouds over the global economy are thick, there still will be rays of sunshine in the stock market.
Continue reading Chasing Value: Stocks and Irish Bailout -- ACN & IBM
- Wells Fargo upgraded Accenture (ACN) to outperform from market perform following the company's Q4 results, citing improved tone and increased visibility. The firm raised its target range for shares to $51 to $53 from $41 to $44.
- Macquarie upgraded FirstMerit (FMER) to outperform from neutral and has a $21 price target on the stock. The firm cites FirstMerit's strong fundamentals and competitive advantage for the upgrade.
- Macquarie transferred coverage on Marshall & Ilsley (MI) with a neutral from an underperform based on improved risk/reward.
- Eaton (ETN) was upgraded to overweight from neutral at JPMorgan.
- HSBC (HBC) was upgraded to conviction buy from buy at Goldman.
- Walgreen (WAG) was upgraded to overweight from equal weight at Morgan Stanley.
Continue reading Analyst Calls: ACN, ADM, BRCM, CAT, DE, FMER, GOOG, MI, NFLX, UAL, WAG ...
Consulting firm Accenture (ACN) will be reporting its fiscal fourth quarter earnings after the market close tomorrow, with analysts expecting to see the company report earnings of $0.63 per share, in-line with the same period last year.
The company has issued its guidance, and expects to see revenues in a range of $5.15 to $5.35 billion. For full year earnings, the company now expects earnings somewhere between $2.61 to $2.69, on the lower end of previous guidance.
Continue reading Accenture Fourth Quarter Earnings Preview
Time to piggyback on my thoughts about Tiger Woods potentially quitting golf. A statement on Tiger's personal website announced that the world's greatest golfer is going to take "an indefinite break from professional golf." Tiger begins the statement by expressing awareness of the "disappointment and hurt that my infidelity has cause to so many people, most of all my wife and children."
This is the first time that Tiger has really spoken since the car crash, which I feel was a bit of a public relations mistake. His silence allowed the public and tabloids to assume Tiger's guilt before he spoke. Of course, it doesn't matter now, as Tiger admitted to "infidelity," confirming what many have theorized. Tiger added that "It may not be possible to repair the damage I've done, but I want to do my best to try."
Continue reading Tiger Woods to take 'indefinite break from professional golf'
Autumn has arrived and the quarter winds down this week. The Dow has been inching toward 10,000 for a while now, though it closed lower in the past three sessions. Can it make it to 10,000 for the start of the third quarter? If so, what will push it higher? If not, what will drag it down further?
Continue reading The week in preview: Is the rally over?
Infosys Technologies (NASDAQ: INFY) increased its first quarter profits by 17% by tapping new markets and wrangling in 27 new clients, according to the Financial Times. The second-largest software services exporter in India, Infosys even scored some major clients, such as Waitrose, a top-shelf food retailer in the United Kingdom. Tough economic conditions can tend to favor companies that provide outsourcing services -- as well as consulting services with high, easily justifiable returns on investments (ROIs).
Nonetheless, this is a competitive space, and Infosys did caution that IBM (NYSE: IBM), Accenture (NYSE: ACN) and Hewlett-Packard (NYSE: HPQ) will be formidable global foes. With the announcement, Infosys increased the lower end of its forecast for the year, expecting revenues to fall in the $4.45 billion to $4.52 billion range.
Continue reading Infosys profits up 17%, long-term looks great
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