This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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

Stocks in this article: CTSHFBDELLBBRYTSLA

NEW YORK ( TheStreet) -- Cognizant (CTSH) 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) 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) was off 0.07% to $13.67 on share volume of 124,640.

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

Tesla (TSLA) 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: tips@thestreet.com.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!
DOW 16,677.90 +216.58 1.32%
S&P 500 1,950.82 +23.71 1.23%
NASDAQ 4,452.7920 +69.9450 1.60%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

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