Cognizant Technology (CTSH) NewsBite - CTSH Jumps on Q4 Earnings
Posted: Tuesday, February 09, 2010 10:26 AM EDT
By: Market Intelligence Center Staff
Cognizant Technology (NASDAQ: CTSH) opened at $45.20. So far today, the stock has hit a low of $45.00 and a high of $46.13. CTSH is now trading at $45.88, up $2.14 (4.89%). Over the last 52 weeks the stock has ranged from a low of $17.26 to a high of $48.95. CTSH shares are rising today after the company reported a fourth-quarter profit of $144 million, or 47 cents per share. Excluding one-time items, CTSH earned 50 cents per share on revenue of $902 million, beating analysts' profit forecasts of 46 cents per share on revenue of $887 million. Technical indicators for the stock are bullish and S&P gives CTSH a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on CTSH the stock seems like it could be a candidate for an April out-of-the-money bull-put credit spread below the 40 range. [ABR-Seven Summits Strategic Investments NewsBite]
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