The market spent a totally schizoid week. It initially fell, with what are thought to be high-risk stocks taking the brunt of the selling. And then it turned. I was asked recently by a subscriber to compare this overall risk-off period to the crashes in 2001 and 2008. I was around for both of them.…
OTEX released earnings after the close. The headlines said that both earnings and revenues missed prior expectations and perhaps on some level they did. But peeling back the release a little bit, the truth is far different than the headlines. This was the quarter in which OTEX acquired Documentum. The transaction closed a couple of…
IBM reported its Q3 results earlier this afternoon. The results were a beat compared to guidance of about 2% on both reported and 2% on revenues. That said, both earnings and revenues continued to fall from year earlier levels. Further, the beat was mainly a product of an extraordinary level of custom programming that IBM…
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Infosys (INFY) reported the results of its second fiscal quarter earlier today. The results showed EPS to be in line and with a revenue shortfall of $10 million on expectations that had been $2.6 billion. The company’s press release self-described market conditions as challenging and management reduced its revenue expectations for the balance of the…