Top 10 Emerging Markets Stocks in 2010
6. Cognizant Technology Solutions (CTSH) is engaged in providing customized information technology solutions and outsourcing services.
For the third quarter, the company posted an increase of 43% and 49.1% in revenue and net profit, to $1.21 billion and $204 million, respectively, as compared to the same quarter a year ago. During October, the company signed a multi-year, multi-million dollar agreement with 3M Company (MMM). With this agreement, Cognizant will leverage its best practices and frameworks in order to reduce the total cost of ownership and ensure high quality and consistency across the 3M portfolio, including mission-critical software. The company announced a joint development program with Microsoft (MSFT) for delivering cloud-enabled solutions to enterprise customers.Looking ahead into the fourth quarter, the company expects to record revenue of $1.27 billion. For full-year 2010, Cognizant raised its revenue guidance to $4.55 billion from the earlier estimate of $4.46 billion on diluted earnings per share of $2.35. The company's board of directors recently authorized a share repurchase program valued almost at $150 million of the company's common stock in the upcoming 12 months. Moreover, the outlook for information technology seems favorable, based on the spending environment in the U.S. and huge cash balances available for IT spending at various companies.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV