BBC News | BUSINESS | Cap Gemini warns on outlook::
Accenture sheds 1,500 jobs. 26 Jun 01 | Business. Cap Gemini warns of lower profits Digital TV woes hit Pace profits. Bush vows action after scandals
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Accenture beat Wall Street estimates and raised guidance late Thursday, but the stock tumbled 5% in Friday trading on worries about falling profit margins.
Accenture's earnings of 35 cents a share on revenues of $3.81 billion beat analyst estimates, and the company raised June quarter guidance to 48-50 cents a share on revenues of $4-4.2 billion.
But with gross margins falling to 30.8 percent from 33 percent in the year-ago quarter on cost overruns and deployment delays, Morgan Stanley downgraded the stock, citing "deteriorating earnings quality; large, new underperforming contracts; and a lack of operating leverage that could persist for the next year." Hong Kong & China::
regions developing countries by only a small margin, it was predicted Businesses hit hard by the Sars outbreak will receive help through cheap bank
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Telstras rating could be hit | Australian IT::
IT: Accenture bags Telstra transformation deal. CCC: Broadband network cant be a monopoly Banks not immune to woes. Media. Jones gets $4.5m present on re-signing
http://www.australianit.news.com.au/story/0,24897,23361149-5013041,00.htmlHOME |
Wachovia added that Accenture "is carrying significantly higher than estimated unbilled services" for two 10-year contracts totaling $3.3 billion with Britain's National Health Service.
The broader market also tumbled on Friday, as earnings worries returned to the fore on warnings from the likes of Trex, Labranche, USF Corp. and Yellow Roadway.
The Nasdaq fell 19 to 1999, the S&P 500 lost 9 to 1181, and the Dow tumbled 84 to 10,461. Volume declined to 1.66 billion shares on the NYSE, and 1.52 billion on the Nasdaq. Decliners led 23-9 on the NYSE, and 20-9 on the Nasdaq. Downside volume was 77% on the NYSE, and 74% on the Nasdaq. New highs-new lows were 62-40 on the NYSE, and 36-71 on the Nasdaq. U.S. Builds Big Lead At Presidents Cup - Sports News Story - WVIT ::
Twice they cut the margin to 1-up and it stayed there after Weir hit his teams second shot into a bunker and Singh holed out the sand shot for a birdie.
http://www.nbc30.com/sports/14223295/detail.htmlHOME |
ESPN - Stenson holds off Ogilvy for first PGA Tour victory - Golf::
Ryder Cup, where Europe won by such a large margin any player could have won the No sport is immune from the current economic woes, and golf is no exception.
http://sports.espn.go.com/golf/news/story?id=2779297HOME |
AMD jumped 5.6% on reports of a new chip.
Borland and Silicon Graphics tumbled on warnings, while Ariba climbed 2% despite warning.
Blue Coat plunged 17% on news of an SEC trading probe.
 Microsoft Expands IP Licensing to Startups
 Technical Analysis: Techs Turn Back |
Accenture Hit By Margin Woes