This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Tech Premarket: Cognizant, Facebook, Dell

NEW YORK ( TheStreet) -- Cognizant (CTSH - Get Report) shares surged before market open on Tuesday, boosted by better-than-expected second-quarter results and robust guidance.

The IT consulting and outsourcing specialist reported revenue of $2.161 billion, a 20.4% increase from the same period last year, and above Wall Street's forecast of $2.13 billion.

Excluding items, Cognizant earned $1.07 a share, up from 89 cents a share in the same period last year. Analysts surveyed by Yahoo! Finance were looking for earnings of 97 cents a share.

Investors welcomed the numbers, pushing Cognizant's shares up 3.9% to $76.27 in premarket trading.

The Teaneck, N.J.-based firm noted particular strength in its European business, which saw total revenue increase 37% from the same period last year. Excluding the U.K., Cognizant's European revenue climbed 53.8% over the same time frame.

"Economic pressures and long-term secular industry shifts have been driving fundamental changes in client demands," said Gordon Coburn, Cognizant's president, in a statement.

For the third quarter, Cognizant expects sales of at least $2.25 billion and earnings of $1.09 a share. Analysts surveyed by Yahoo! Finance are looking for sales of $2.22 billion and earnings of $1.03 a share.

Facebook (FB - Get Report) shares slipped 0.23% to $39.10, although the social networking giant was the most active premarket Nasdaq stock on share volume of 354,087.

PC maker Dell (DELL - Get Report) was off 0.07% to $13.67 on share volume of 124,640.

BlackBerry (BBRY - Get Report), however, was a gainer, rising 1.89% to $9.76 on share volume of 78,180.

Tesla (TSLA - Get Report) was a more modest gainer, climbing 0.87% to $145.94.

--Written by James Rogers in New York.

>To submit a news tip, send an email to:

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DELL $0.00 0.00%
BBRY $9.46 0.00%
CTSH $63.00 0.00%
FB $83.30 0.00%
TSLA $185.00 0.00%


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs