Diamonds and Dogs
4/12/13
Infosys Ltd. (INFY)Infosys is getting crushed today, down 20.83% ay $43.02. The business consulting and technology company saw its shares fall after releasing its quarterly earnings and lowered full-year guidance. Revenue for the quarter came in at $1.94 billion missing analyst estimates of $1.99 billion. The miss on earnings led management to lower its full-year expected growth to a range of 6-10%; which is again below analyst estimates of 11%. Infosys CEO S.D. Shibulal remained optimistic on the company's future saying, "We are progressing well on our strategic direction of building a high-quality company which is relevant to our clients." Shares dropped over $11.00 today, bringing the shares into the middle of the stocks 52-week range.
Bankrate Inc. (RATE)
Bankrate is trading higher today, up 12.58% at $13.47. The online finance company saw its shares trade into the green after it was upgraded. Jordan Rohan of Stifel Nicolaus raised Bankrate to "Buy" from "Hold" and gave it a $17 price target. Rohan said that things seem to be looking up for some of Bankrate's properties like CreditCards.com, which have high incremental profit margins. Furthermore, Rohan said that the worse seems to be behind the company and lower expectations will allow for the company to beat analyst estimates. Bankrate is still well away from its 52-week high of $24.29.
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