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Enterprise headlines and summaries, 2009-04-24 (part 2)

  • Microsoft cancels company picnic
    When Microsoft said on Thursday that it had found more ways to trim expenses, it wasn’t kidding. The software maker notified its workers on Friday that it is canceling its annual summer picnic for Seattle-area workers. … The yearly picnic was one of the few events that brought together the bulk of Microsoft’s Puget Sound workforce, which is spread out over many different parts of the region, including Seattle, Bellevue, and Redmond. The company also has a company meeting, typically held in September, that takes place at Safeco Field, the home of the Mariners baseball team. “We’ll still have that because it’s very business-oriented,” Gellos said.
  • Amdocs Q2 Beats on Sales, Profit; Q3 Forecast In Line
    Telecom software maker Amdocs (DOX) this afternoon reported sales and profits for its fiscal second quarter ended March 31 that beat estimates. Revenue fell 8% to $711 million, while profit fell to 50 cents a share. That compared to analysts’ estimates for $704 million and 49 cents. The company forecast FY Q3 profits and sales in line with analysts’ estimates, at 46-50 cents a share, compared to the Street consensus of 49 cents, on sales of $670 million to $690 million, versus the consensus $687 million. In late trading, Amdocs shares are unchanged at $19.37.
  • Informatica Q1 2009 Earnings Call Transcript
    Our sustained results underscored the merits of our singular focus on data integration. As we noted before, data matters even more in these uncertain times of economic turmoil. The current global economic recession continues to influence industry analyst projection as well as customer IT priorities and budgets. With our singular focus and track record of continual innovation, we are well positioned with the compelling value proposition. Our strongest ever product portfolio enables our customers to do more with less while aligning IT with top business imperatives. Industry analyst, Forrester, recently revised downwards their U.S. IT spending growth estimate from an increase of 1.6% to a decrease to 3.1% in 2009.
  • Citi Upgrades Informatica (INFA) to Buy; Remarkably Consistent
    Citi analyst says, “INFA can “point to the scoreboard” following another quarter of strong execution in a tough environment. INFA hit the upper-half of 1Q rev guidance and would have beaten if not for foreign currency’s negative impact. Deft expense controls led to a 380bps op-margin improvement y/y to 21.6% from 17.8% leading to a EPS guidance beat despite $0.01 dilution from the mid-quarter Applimation acq. We believe INFA can maintain this performance and outperform Street expectations.”
  • Informatica Shrs Soar On Strong Q1, Citi Upgrade
    Informatica (INFA) shares are sharply higher after the company posted strong Q1 results and solid Q2 guidance, which together podded Citigroup analyst Brent Thill to upgrade the shares. Informatica yesterday reported Q1 revenue of $109.1 million, about $1 million light of estimates, but profits of 18 cents a share, 3 cents above the Street. The top line miss was largely related to currency; the enterprise software company said revenue would have been $6.4 million if exchange rates at quarter end were the same as when the quarter started.
  • Proposed H1 B Visa legislation restrictive: Wipro
    The country’s third largest software exporter Wipro on Friday said the proposed US H1B visa legislation, which was introduced in the US Senate yesterday, is antithesis to globalisation and is a restrictive trade practice. Wipro Ltd’s Executive Vice President (Human Resources) Pratik Kumar said, “The proposed H1-B Visa legislation is anti -thesis to globalisation. It is a restrictive trade practice. Over the years India has helped the US to compete globally and this has brought benefits to both countries. A reversal of this could impact the US economy adversely.”
  • Rajus used 17 aides to manipulate demat accounts
    Seventeen trusted lieutenants of B Ramalinga Raju, the defamed promoter of Satyam Computer Services, and his family were made to open demat accounts to fraudulently trade in shares of the promoters of the beleaguered IT firm. Investigations by the Central Bureau of Investigation (CBI) reveal that the promoters of Satyam — Raju’s mother Applanarasamma, his brother Suryanarayana Raju and his wife Jhansi Rani — sold their shares in 1999 to 17 employees and made a killing in the market. The modus operandi shows the promoters transferred the physical shares through endorsement in the names of these 17 individuals, who, in turn, deposited the same in their demat accounts and then sold these shares through five investment companies. The investment companies, floated by Raju and his family, included Elam Investment, High Grace Investments, Fincity Investments, High Sound Investments and Veeyes Investments. Later, these investment companies sold these shares in the market.

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