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☆ Beyond the 'Magnificent 7': Morningstar's top strategist names other stocks to own
▼ + stars: | 2024-02-09 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +4 min

"The Magnificent Seven stocks generally are starting to run out of steam at this point because their valuations are getting pretty full at this point of time," Morningstar's Chief Markets Strategist David Sekera told CNBC Pro on Feb. 2. However, Sekera thinks things are looking up for small-caps and value stocks — the latter of which he says are trading at an 11% discount relative to Morningstar's fair value and look like a "good area for investors to overweight in U.S. stocks right now." Tech stocks The chief strategist remains bullish on tech, albeit outside of the Magnificent Seven, and named Cognizant Technology Solutions and Snowflake as picks to play the theme. Value in energy The energy sector — one of the laggards of the stock market last year — is also on Sekera's radar. Morningstar gives stocks a rating of between one and five stars, with a top rating indicating that the shares are undervalued.

Persons: David Sekera, Morningstar, Sekera, Russell, —, We're, doesn't, NiSource, Entergy Organizations: Big Tech, Apple, Meta, Microsoft, Nvidia, Tesla, CNBC Pro, Dow, Nasdaq, Tech, Technology Solutions, APA Corp, Morningstar, Exxon, APA, Entergy, WEC Energy Locations: Suriname, United States

☆ 8 more of our stocks report earnings next week. Here's what we want to see
▼ + stars: | 2024-02-03 | by ( Zev Fima | ) www.cnbc.com time to read: +13 min

The three major averages posted gains for the fourth week in row, lifted by strong quarterly earnings results for most of the Big Tech companies and a strong jobs report. A weaker ADP Employment report on Wednesday provided no read-through to the monster January jobs report Friday. Here's what we're keeping an eye on in the coming week: 1. Earnings: It's another big earnings week head for the portfolio, with 8 more of our companies reporting. Consistency is what we appreciate most from nat gas giant Linde , so we're hoping for another quarter of solid earnings growth Tuesday.

Persons: Estee Lauder, Eli Lilly, Mounjaro, Nelson Peltz, Estée Lauder, Tyson, CARR, Jacobs, Willis Towers Watson, Edwards, Walt Disney, Oscar Health, Philip Morris, Armour, BAX, BILL, Jim Cramer's, Jim Cramer, Jim, George Frey Organizations: Big Tech, Dow Jones Industrial, Nasdaq, PMI, Apple, Starbucks, Procter, Gamble, GE Healthcare, DuPont, Linde, Ford, General Motors, Trian Partners, Disney, ESPN, Wynn Resorts, Wynn, Vegas, Prix, Estée Lauder Companies, Caterpillar, McDonalds Corp, Allegiant Travel, Bowlero Corp, Tyson Foods, TSN, Air Products & Chemicals, IDEXX Laboratories, CNA Financial Corp, CNA, Timken Company, Graham Corporation, Mesa Laboratories, Sphere Entertainment, Loews Corp, Technologies, Vertex Pharmaceuticals, Semiconductors, Simon Property Group, Amkor Technology, FMC Corporation, FMC, BellRing Brands, Crown Holdings, ChampionX Corporation, Golub Capital BDC, Flexsteel Industries, Kilroy Realty Corp, Gladstone Capital Corp, Unibanco, S.A, Snack Foods Corp, Kimball Electronics, Skyline Corp, Cabot Corporation, Simpson Manufacturing Co, Varonis Systems, Co, GE HealthCare, Linde plc, LIN, Spotify Technology S.A, BP, Hertz Global Holdings, AeroSystems Holdings, Toyota Motor Corp, Cummins, CMI, Software Technologies, AGCO Corporation, Carrier Global Corporation, Lear Corp, CONSOL Energy, Centene Corporation, Gartner, Arcbest Corp, CTS Corporation, Energizer Holdings, Hamilton Lane Incorporated, KKR, Precision Drilling Corporation, Frontier Group Holdings, Waters Corp, Alfa Laval, Aramark Holdings Corp, FirstService Corporation, Garden Sports Corp, New Jersey Resources Corp, nVent Electric plc, PJT Partners, Resources, Sensata Technologies, Ford Motor Company, Enphase Energy, Grill, VF Corp, Edwards Lifesciences Corp, Gilead Sciences, Lumen Technologies, Cognizant Technology Solutions Corp, Weatherford International plc, Amcor plc, Arrowhead Pharmaceuticals, Advanced Energy Industries, Uber Technologies, CVS Health, Roblox Corporation, Ares Capital Corp, Bunge, XPO Logistics, Scotts Miracle, Gro Company, Berry Global, Flex LNG, Equinor ASA, Griffon Corporation, OneMain Holdings, Brookfield Asset Management, Emerson Electric Co, Hilton Worldwide Holdings, Reynolds Consumer Products, Silicon Laboratories, Brands, Sciences, CDW Corp, Fox Corporation, WYNN, PayPal, Arm Holdings plc, ARM, Axcelis Technologies, Mattel, Paycom, Annaly Capital Management, McKesson Corp, Health Corporation, O'Reilly Automotive, Allstate Corp, Fluence Energy, Power Systems, Digital Turbine, Blue Bird Corp, Everest Group, Omega HealthCare, Coty, COTY, ConocoPhillips, Cameco Corp, Philip Morris International, Spirit Airlines, Hershey Company, Lightspeed Commerce, Aurora Cannabis, Lincoln National Corp, P, Tenet Healthcare Corp, Asbury Automotive Group, Arrow Electronics, Baxter International, PetMed, Boyd Gaming Corp, FirstEnergy Corp, Motorola Solutions, Terex Corp, PepsiCo, Growth, AMC Networks, Owl, American Pipeline, TELUS International, Magna International, Newell Brands, Jim Cramer's Charitable, CNBC, Bloomberg, Getty Locations: U.S, China, Macau, Wynn Macau, Valvoline, VVV, ALFVY, Madison, New Jersey, Gilead, Ceridian, ORLY, Paycor, Aurora, Provo , Utah

☆ Group of Google contractors who work on Search and Bard win union vote
▼ + stars: | 2023-11-07 | by ( Jennifer Elias | ) www.cnbc.com time to read: +3 min

A group of Google contractors, some of whom have worked on Search and Google's artificial intelligence chatbot Bard, have successfully voted to unionize. The group, from Google contractor Accenture, filed for unionization efforts in June after claiming Google asked them to help train the generative AI answers offered in Search and Bard, and that they felt underprepared for their work. The Alphabet Workers Union teamed up with the Communications Workers of America in 2021 as a minority union. "We have no objection to these Accenture workers electing to form a union," said Google spokesperson Courtenay Mencini in a statement to CNBC. The decision marks the second ruling to classify Google as a joint employer with its contractor for a subset of employees.

Persons: Bard, Courtenay Mencini, Jen Hill, Hill Organizations: Accenture, Google, Bloomberg, Alphabet Workers Union, Communications Workers of America, U.S . National Labor Relations Board, Workers, NLRB, CNBC, CWA, YouTube, Cognizant Technology Solutions, CNBC PRO Locations: London, England, Francisco

☆ Cognizant forecasts quarterly revenue below estimates on weak corporate spending
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

The Teaneck, New Jersey-based company expects current-quarter revenue between $4.69 billion and $4.82 billion, compared with market estimates of $4.86 billion, according to LSEG data. Indian IT services giants Infosys (INFY.NS) cut the upper end of its annual revenue forecast earlier in Oct, raising concerns about near-term demand, while Tata Consultancy Services (TCS.NS) reported weaker-than-expected quarterly revenue. The company expects annual adjusted profit per share in the range of $4.39 to $4.42, from its prior estimate of between $4.25 and $4.48. Revenue for the third quarter stood at $4.90 billion, slightly below estimates of $4.91 billion. The company reported a profit of $1.04 per share, compared with $1.22 per share a year earlier.

Persons: Dado Ruvic, Cognizant, Jan Siegmund, Jaspreet Singh, Anil D'Silva Organizations: REUTERS, Technology Solutions, Wall, Infosys, Tata Consultancy Services, Accenture, Thomson Locations: Teaneck , New Jersey, Bengaluru

☆ Goldman says interest rate expense is biggest threat to profitability, but these stocks are immune
▼ + stars: | 2023-10-02 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

The higher-for-longer interest rate regime poses a direct threat to company profitability, but some stocks are a lot less vulnerable to higher borrow costs, according to Goldman Sachs. The Federal Reserve has taken interest rates to the highest level since 2001 while forecasting one more hike this year. The S & P 500 finished September down 4.9%, suffering its worst month of 2023. The Wall Street firm screened the S & P 500 for stocks with low leverage, high interest coverage and low EBITDA growth variability. Specifically, Goldman identified stocks with net debt to EBITDA below 1, EBIT to interest expense in top quartile among S & P 500 stocks and with EBITDA growth variability in bottom quartile.

Persons: Goldman Sachs, ROE, David Kostin, Stocks, Kostin, Goldman Organizations: Goldman, Federal, Street, Cisco, Cadence Design Systems, Cognizant Technology Solutions, Consumer, Costco Locations: EBITDA

☆ Cognizant appoints former Wipro finance chief Jatin Dalal as CFO
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSept 28 (Reuters) - Cognizant Technology Solutions (CTSH.O) on Thursday named former Wipro (WIPR.NS) chief financial officer Jatin Dalal as its CFO, a week after his resignation from the Indian information technology (IT) major. The pace of executive churn has picked up in the Indian tech industry in recent months. Dalal became Wipro's CFO in 2015, and with CEO Thierry Delaporte steered the company through the pandemic as demand for digital services boomed. "We are pleased to welcome Jatin to Cognizant and confident he will help us achieve our goals as we continue to focus on driving revenue growth," Cognizant CEO Ravi Kumar S said in the statement. Cognizant projected third-quarter revenue above estimates in August as more businesses turned to the IT services provider to digitize their operations.

Persons: Dado Ruvic, Jatin Dalal, Ravi Kumar S, Dalal, Jan Siegmund, Rajesh Gopinathan, Mohit Joshi, Wipro's, Thierry Delaporte, Jatin, Cognizant, Jaspreet Singh, Hritam Mukherjee, Varun Organizations: REUTERS, Technology Solutions, Wipro, Cognizant, Infosys, Indian, Tata Consultancy Services, Tech Mahindra, Thomson Locations: Bengaluru

☆ India's Wipro slides after CFO Dalal resigns in latest high-profile exit
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsBENGALURU, Sept 22 (Reuters) - Shares of Wipro (WIPR.NS) slid almost 3% on Friday, a day after long-serving CFO Jatin Dalal resigned in a surprise move, the latest senior level exit at the fourth-largest Indian IT services provider. Dalal's exit follows those of Chief Operations Officer Sanjeev Singh and several senior vice presidents as Wipro wades through a years-long turnaround of its business. Wipro has already forecast revenue from IT services would remain largely flat for the current quarter as clients cut spending. Shares of the company hit a near three-week low after news of the CFO change announced Thursday. Reporting by Chris Thomas and Nallur Sethuraman in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Jatin Dalal, Sanjeev Singh, Dalal, Aparna Iyer, Rajesh Gopinathan, Mohit Joshi, Ravi Kumar, Chris Thomas, Nallur, Nivedita Organizations: Wipro, REUTERS, Rights, Indian, Wipro wades, Kotak, Tata Consultancy Services, Infosys, Tech Mahindra, Cognizant Technology Solutions, Thomson Locations: India, United States, Bengaluru

☆ The No. 1 employer for happy and fulfilled workers is a truck stop and convenience store chain
▼ + stars: | 2023-09-20 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +4 min

The company where workers feel most happy, fulfilled and stress-free can be seen from any given highway coast to coast. Love's Travel Stops & Country Stores, the truck stop and convenience store chain, was rated the No. 1 company for employee well-being, according to a new report from Indeed. Indeed based the awards on employee ratings focused on four aspects related to worker well-being: happiness, purpose, satisfaction and stress. While that looks a bit different at each company and in different industries, a high Work Well-being Score means employees feel appreciated, supported and generally satisfied at work."

Persons: Love's, Walt Disney Company Apple Love's, Jessee Rigney, Harris, Rigney, Priscilla Koranteng Organizations: Stores, Delta Air Lines Tata Consultancy Services Accenture IBM, Wipro Infosys Nike Vans, Cognizant Technology Solutions Hallmark Microsoft Northrop Grumman FedEx Freight Dutch, Coffee, Walt Disney Company Apple, CNBC, Employees Locations: Oklahoma City, New York, California

☆ Cognizant projects revenue above estimates, CFO to retire in 2024
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/IllustrationAug 2 (Reuters) - Cognizant Technology Solutions (CTSH.O) forecast third-quarter revenue above estimates on Wednesday as more businesses turn to the IT services provider to digitize their operations, sending its shares up more than 6% after the bell. The company also said CFO Jan Siegmund would retire in early 2024. The New Jersey-based company expects current-quarter revenue of between $4.89 billion and $4.94 billion, compared with analysts' estimates of $4.86 billion, according to Refinitiv data. The company now expects full-year adjusted profit per share in the range of $4.25 to $4.48, compared with an earlier estimate of between $4.11 and $4.34. The company reported adjusted profit of $1.10 per share, compared with estimates of 99 cents.

Persons: Dado Ruvic, Jan Siegmund, Ravi Kumar S, Jaspreet Singh, Devika Organizations: REUTERS, Technology Solutions, TCS, Accenture, Revenue, Thomson Locations: The New Jersey, Bengaluru

☆ Morning Bid: Triple-A headache
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +4 min

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. On Tuesday, Fitch became the second major agency, after Standard & Poor's in 2011, to strip the United States of its prized triple-A credit rating. Jefferies notes that, with two of the three major agencies listing U.S. debt at AA, U.S. bonds no longer count as AAA in some key indices. However, according to Jefferies, most investors have moved away from some of the stricter criteria around holding triple-A rated debt, given Germany is the only large issuer left with that rating. Chart shows that the U.S.'s long-term foreign currency rating was downgraded by Fitch to AA+ in 2023, following a similar move from S&P in 2011.

Persons: Rick Wilking, Amanda Cooper, Fitch, Jefferies, it's, Dupont Nemours, Kraft, Phillips, Ingersoll Rand, John Stonestreet Organizations: REUTERS, Standard, Capitol, Investors, Treasury, Moody's, Moody's Investors Service, U.S ., U.S, AA, AAA, CVS Health, Entergy, Kraft Heinz, Garmin, Brands, Bunge Ltd, Lincoln National, Occidental Petroleum, ETSY, Cognizant Technology Solutions, Atmos Energy, Equinix, Qualcomm, MGM Resorts, MetLife, Fitch, Reuters Graphics U.S, Thomson, Reuters Locations: Westminster , Colorado, U.S, United States, Aaa, Germany, Exelon, Albemarle, Occidental, Clorox

☆ Accenture's revenue forecast disappoints as IT spending weakness persists
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +1 min

June 22 (Reuters) - IT consulting firm Accenture forecast fourth-quarter revenue below Wall Street estimates on Thursday on worries that rising economic uncertainty will keep IT budgets tight and prevent businesses from signing fresh contracts. Cognizant Technology Solutions (CTSH.O) last month said it faced pressure in signing smaller contracts due to softer discretionary spending. Accenture forecast current-quarter revenue in the range of $15.75 billion to $16.35 billion. Accenture's new bookings, or deals in the pipeline, grew 2% to $17.2 billion in the third quarter. Revenue for the quarter ended May 31 was $16.56 billion, in line with estimates.

Persons: Jerome, Julie Sweet, Chavi Mehta, Pooja Desai Organizations: Accenture, Wall, U.S, Federal, Technology Solutions, Tata Consultancy Services, Revenue, Thomson Locations: United States, Bengaluru

☆ These stocks are breaking out to the upside and may be poised for further gains
▼ + stars: | 2023-05-08 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

The market may be trading in a tight range, but some stocks are breaking out of the sideways action to the upside, according to a closely watched technical indicator. Some stocks, however, are bucking this trend, and showing some momentum to the upside by closing above their 50-day moving averages. Cruise stocks dominated the list of names that punched above their 50-day averages last week. Other cruise and entertainment stocks also closed above their 50-day last week, including Norwegian Cruise Line , Carnival Cruise and Live Nation Entertainment . The stocks gained 6% and 1.9% for the week to close above their 50-day moving averages of $60.24 and $40.20, respectively.

☆ A solid start to earnings season will be put to the test in the week ahead
▼ + stars: | 2023-04-29 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

The biggest week of this earnings season showed us that things aren't as bad as many feared. The week ahead of earnings, including several more Club names, should tell us more. The results are always important, but it's the guidance and management commentary we will really hone in on to better understand the path ahead. In Amazon's case, a solid first quarter for its AWS cloud business was overshadowed by management seeing a material slowdown in April. ET: Nonfarm Payrolls Looking back It was the biggest week of this earnings season for the Club as several of our mega-cap holdings and industry bellwethers reported results.

☆ Accenture trims forecasts, to cut 19,000 jobs as IT spending slows
▼ + stars: | 2023-03-23 | by ( Chavi Mehta | ) www.reuters.com time to read: +2 min

[1/2] Accenture PLC logo is seen on a smartphone in front of displayed same logo in this illustration taken, December 1, 2021. REUTERS/Dado Ruvic/Illustration/File PhotoMarch 23 (Reuters) - Accenture Plc lowered its annual revenue and profit forecasts and decided to cut about 2.5% of its workforce, or 19,000 jobs, the latest sign that the worsening global economic outlook was sapping corporate spending on IT services. More than half of the jobs to be cut will be in its non-billable corporate functions, Accenture said on Thursday, sending its shares up 6.4%. Accenture now expects annual revenue growth to be between 8% and 10%, compared with its previous projection of a 8% to 11% increase. A survey of more than 1,000 IT decision makers by U.S.-based Enterprise Technology Research said they plan to reduce their 2023 budget growth.

☆ Accenture cuts jobs, trims forecasts on worries of lower IT spending
▼ + stars: | 2023-03-23 | by ( ) www.reuters.com time to read: +1 min

[1/2] Accenture PLC logo is seen on a smartphone in front of displayed same logo in this illustration taken, December 1, 2021. REUTERS/Dado Ruvic/Illustration/File PhotoMarch 23 (Reuters) - Accenture Plc on Thursday lowered its annual revenue and profit forecasts and said it would cut about 2.5% of workforce, or 19,000 jobs, the latest sign that the worsening global economic outlook was sapping corporate spending on IT services. Accenture now expects annual revenue growth to be between 8% and 10% compared to the previous projection of 8% to 11% increase. Accenture said it now expects earnings per share to be in the range of $10.84 to $11.06 compared to $11.20 to $11.52 previously. Reporting by Chavi Mehta in Bengaluru; Editing by Sriraj Kalluvila and Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

☆ IBM cuts 3,900 jobs, misses annual cash target
▼ + stars: | 2023-01-26 | by ( Chavi Mehta | ) www.reuters.com time to read: +2 min

Jan 25 (Reuters) - IBM Corp (IBM.N) on Wednesday announced 3,900 layoffs as part of some asset divestments and missed its annual cash target, dampening cheer around beating revenue expectations in the fourth quarter. Analysts said news of the job cuts and free cash flow miss was behind the drop. read moreIBM's 2022 cash flow was $9.3 billion, below its target of $10 billion, due to higher-than-expected working capital needs. In October, IBM flagged softness in new bookings in Western Europe while peer Accenture Plc noted weakness in its consulting business. For 2022, IBM recorded revenue growth of 5.5%, its highest in a decade.

☆ IBM cuts 3,900 jobs after muted consulting demand hits quarterly revenue
▼ + stars: | 2023-01-25 | by ( Chavi Mehta | ) www.reuters.com time to read: +2 min

Jan 25 (Reuters) - IBM Corp (IBM.N) on Wednesday said it would lay off 3,900 people as part of some asset divestments and posted flat fourth-quarter revenue due to lackluster demand for its consulting services. The resulting layoffs will cause a $300 million charge in the January-March period, IBM said. IBM in October flagged softness in new bookings in Western Europe while peer Accenture Plc also noted weakness in its consulting business. Still, Kavanaugh said that the company is seeing its consulting business grow in terms of cloud spending. Total revenue was $16.69 billion in the period, compared with analysts' estimates of $16.40 billion, according to Refinitiv.

☆ Justice Department Faces Accusations It Outsourced a Corporate Investigation in Bribery Case
▼ + stars: | 2022-12-22 | by ( Dylan Tokar | ) www.wsj.com time to read: +7 min

PREVIEWThe case against Messrs. Coburn and Schwartz was presented as a model for the Justice Department’s approach to corporate crime when it was announced in 2019. The department’s investigation into Messrs. Coburn and Schwartz was prompted by one such tipoff. The Deutsche Bank ruling was heavily cited in the motions filed by Messrs. Coburn and Schwartz. Since Messrs. Coburn and Schwartz launched their legal challenge, the Justice Department has doubled down on its bid to recruit companies as corporate crime watchdogs. The judge earlier in December heard oral arguments by both sides related to the executives’ motions.

☆ These 20 companies are hiring a ton of tech workers
▼ + stars: | 2022-12-07 | by ( Madison Hoff | ) www.businessinsider.com time to read: +4 min

Career site Indeed put together a list with recent job posting data of the places hiring tech job seekers. Deloitte ranked at the top — with 1,774 new tech job postings per 1 million based on Indeed's data. Meta, Amazon, Twitter, Lyft, and other tech companies have recently announced layoffs. "Deloitte as a management and consulting company is doing quite well right now, and they need tech workers," Dobroski said. "They're not traditional tech companies, but they really assist and support and consult so many other companies that are trying to up level their tech presence," Dobroski said about the top three.

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