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Economic Times
a day ago
- Business
- Economic Times
Accenture shares tank 11% despite beating Q3 revenue estimates. Infosys ADRs fall 3%
Accenture reported revenue of $17.7 billion for the quarter ended May 31, compared with the analysts' average estimate of $17.30 billion. Accenture's shares plummeted despite exceeding third-quarter revenue expectations, driven by AI-related service demand. The company faces challenges from reduced U.S. federal contracts. Consequently, Indian IT ADRs like Infosys also declined, while domestic IT stocks showed mixed performance, with gains in tier-2 companies and HCL Technologies, contrasting with losses in Infosys and LTIMindtree. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Accenture shares fell 11% on Friday, hitting the day's low of $273.19, notwithstanding a revenue beat for third quarter driven by growing demand for the consulting giant's AI-driven services from enterprise reported revenue of $17.7 billion for the quarter ended May 31, compared with analysts' average estimate of $17.30 billion, Reuters reported, citing data compiled by company is grappling with a weak U.S. federal contracting environment as the Trump administration has slowed new contracts and cut existing agreements in a bid to reduce federal spending, the report said, adding that the company said these changes have not had a material impact on its operations or financial indices on Wall Street were trading mixed, with the Dow 30 at 42,225.90, up 54.23 points or 0.13%. The S&P 500 was down 9.35 points or 0.16%, while the Nasdaq Composite traded at 19,464.10, down 82.13 points or 0.42%, around 12:23 PM GMT-4 (9:54 PM IST).Taking cues, the American Depository Receipts (ADRs) of India's frontline IT companies, Infosys and Wipro , were also down. While Infosys ADRs were down 3% to hit the day's lows of $17.89, Wipro ADRs were marginally down at 0.33%.Indian headline indices ended their three-session losing streak on Friday, led by bank, energy and IT stocks. Individually, HDFC Bank and Reliance Industries (RIL) contributed the most. While Nifty gained 319.15 points or 1.29% to close at 25,112.40, the 30-stock S&P BSE Sensex finished at 82,408.17, rising by 1,046.30 points or 1.29%.Indian IT stocks today ended with strong gains, with tier-2 stocks taking the lead. Persistent Systems jumped 3.5% and was followed by Coforge , which rallied 2%. Mphasis was also up by over 1% at the closing largecap stocks, HCL Technologies was the top gainer, rising by 1.3%.Others, including Oracle Financial Services Software (OFSS), Tech Mahindra Tata Consultancy Services (TCS) and Wipro, settled with gains up to 0.8%.Among laggards were Infosys and LTIMindtree, which closed in the 10-stock Nifty IT index ended with an uptick of 0.84%.
Time of India
a day ago
- Business
- Time of India
Accenture shares tank 11% despite beating Q3 revenue estimates. Infosys ADRs fall 3%
Accenture shares fell 11% on Friday, hitting the day's low of $273.19, notwithstanding a revenue beat for third quarter driven by growing demand for the consulting giant's AI-driven services from enterprise customers. It reported revenue of $17.7 billion for the quarter ended May 31, compared with analysts' average estimate of $17.30 billion, Reuters reported, citing data compiled by LSEG. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like If You Eat Ginger Everyday for 1 Month This is What Happens Tips and Tricks Undo The company is grappling with a weak U.S. federal contracting environment as the Trump administration has slowed new contracts and cut existing agreements in a bid to reduce federal spending, the report said, adding that the company said these changes have not had a material impact on its operations or financial condition. Major indices on Wall Street were trading mixed, with the Dow 30 at 42,225.90, up 54.23 points or 0.13%. The S&P 500 was down 9.35 points or 0.16%, while the Nasdaq Composite traded at 19,464.10, down 82.13 points or 0.42%, around 12:23 PM GMT-4 (9:54 PM IST). Taking cues, the American Depository Receipts (ADRs) of India's frontline IT companies, Infosys and Wipro, were also down. While Infosys ADRs were down 3% to hit the day's lows of $17.89, Wipro ADRs were marginally down at 0.33%. Live Events Indian headline indices ended their three-session losing streak on Friday, led by bank, energy and IT stocks. Individually, HDFC Bank and Reliance Industries (RIL) contributed the most. While Nifty gained 319.15 points or 1.29% to close at 25,112.40, the 30-stock S&P BSE Sensex finished at 82,408.17, rising by 1,046.30 points or 1.29%. Indian IT stocks today ended with strong gains, with tier-2 stocks taking the lead. Persistent Systems jumped 3.5% and was followed by Coforge , which rallied 2%. Mphasis was also up by over 1% at the closing time. Among largecap stocks, HCL Technologies was the top gainer, rising by 1.3%. Others, including Oracle Financial Services Software (OFSS), Tech Mahindra , Tata Consultancy Services (TCS) and Wipro, settled with gains up to 0.8%. Also reads: TPG offloads Rs 1,505 cr stake in Sai Life via block deals; Norges Bank, MFs step in Among laggards were Infosys and LTIMindtree, which closed in the red. The 10-stock Nifty IT index ended with an uptick of 0.84%.
Time of India
4 days ago
- Business
- Time of India
Reddit Inc stock soars 15%: Is it time to buy into the hype? What is the reason behind the jump?
Shares of Reddit Inc. (traded as RDDT ) witnessed a sharp upswing early Tuesday, surging over 15% shortly after the market opened. The dramatic rise has triggered intense interest among retail and institutional investors, prompting renewed discussions around the stock's long-term potential and its underlying fundamentals. With Reddit's current stock price at $145.48, up $19.29 from its previous close, market observers are evaluating whether this momentum signals a durable breakout or a short-lived speculative bounce, as mentioned in a report by Bloomberg. Early Trade Snapshot: Strong Opening Spurs Optimism According to trading data as of 9:41 a.m. GMT-4, Reddit Inc. opened at $134.00, significantly higher than its prior close of $126.19, and climbed rapidly to hover near the intraday high of $145.69. The price movement reflects intense early-session buying, driven largely by positive sentiment surrounding Reddit's technological and advertising developments. For traders relying on short-term price action, the steep climb has become a focal point for potential entry, although analysts caution against overlooking the risks posed by the stock's extreme volatility. Valuation Metrics Show High Growth Expectations The bullish movement has reignited debate about Reddit's sky-high P/E ratio of 233.35, which many analysts interpret as a reflection of elevated growth expectations. While high multiples are common for tech-driven platforms, such valuation levels also amplify downside risks in case of earnings misses or changing market sentiment. Live Events Reddit's 52-week trading range—from $49.13 to $230.41—further underlines its volatility. Currently trading in the upper half of this band, the RDDT stock remains well below its historic peak, signaling both room for further growth and the potential for pullbacks. No Dividend, But Big Tech Ambitions True to its growth-stage character, Reddit offers no dividend yield, choosing instead to reinvest in innovation and expansion. The company recently unveiled a set of AI-powered advertising tools—a move that many see as central to its future revenue model. Announced at the Cannes Lions Festival, these tools include Reddit Insights, a real-time community listening platform for marketers, and Conversation Summary Add-ons, which allow brands to attach positive Reddit discussions under their ads. Powered by the company's proprietary Reddit Community Intelligence engine, these tools are designed to help brands better understand and engage with Reddit's highly interactive user base. 'Reddit is positioning itself as a serious player in the AI marketing space,' the company stated in its announcement. Early testing partners include Publicis, Lucid, and Jackbox Games. Investor Take: A High-Risk, High-Reward Proposition From a technical standpoint, Reddit's explosive price action may present opportunities for aggressive day traders looking to ride the wave. However, the elevated valuation, lack of dividends, and wide price swings make it a precarious choice for long-term investors, as per a report by CNBC. Bullish arguments centre around Reddit's innovation in AI advertising, its massive online community, and recent revenue growth. Bearish views, however, highlight concerns over overvaluation, excessive volatility, and the risk of buying after a sharp rally. Weigh the Momentum Against Fundamentals Reddit's recent price jump—fuelled by optimism around its AI initiatives and digital advertising push—offers a compelling case for investors who can stomach risk and are chasing high returns. However, caution is warranted. With rddt stock trading at lofty valuations and exhibiting unpredictable movements, prudent investors may prefer to wait for consolidation or clearer earnings trajectories before entering. FAQs Why did Reddit Inc. (RDDT) stock jump over 15% on June 17, 2025? Reddit shares surged more than 15% due to strong early-session buying interest, sparked by optimism around its AI-powered advertising tools and positive investor sentiment. The stock opened at $134.00 and quickly climbed to an intraday high of $145.69. What is Reddit's current stock price and valuation? As of the latest trading data, Reddit is priced at $145.48, reflecting a gain of $19.29 from the previous close. It carries a high P/E ratio of 233.35, suggesting elevated investor expectations for future growth. Economic Times WhatsApp channel )
Newsweek
05-06-2025
- Sport
- Newsweek
How to Watch South American 2026 World Cup Qualifiers: Live Stream Every Match
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. The top South American national teams are set to take center stage as they try to ensure their spots in the 2026 World Cup, and you can catch all the action with Fanatiz. Soccer Lionel Messi of Argentina controls the ball during a FIFA World Cup 2026 Qualifier match between Argentina and Uruguay at Estadio Alberto J. Armando on November 16, 2023 in Buenos Aires, Argentina. Lionel Messi of Argentina controls the ball during a FIFA World Cup 2026 Qualifier match between Argentina and Uruguay at Estadio Alberto J. Armando on November 16, 2023 in Buenos Aires, to Watch South American 2026 World Cup Qualifiers Start Date: Thursday, June 5, 2025 Live Stream: Fanatiz (WATCH NOW) The 2026 World Cup is on the horizon, and it is now time for each of the national team clubs to prove they are worthy of making it to the biggest stage in the sport. South America produces some of the best teams in the world each and every time the monumental event is held, and reigning champion Argentina begins its journey to once again reach the pinnacle of success. Lionel Messi does not have much time left in his playing days, and this might be the last time we see him play for Argentina, but aside from one of the greatest players of all time, many other new stars will be born this time around. Paraguay, Uruguay, Ecuador, Brazil, Chile, Argentina, Colombia, Peru, Venezuela, and Bolivia will all take part in their respective qualifiers starting this week. This is an excellent opportunity to see your favorite national teams take the pitch, and you do not want to miss out; tune into Fanatiz to catch all the action from every match. Live stream South American 2026 World Cup Qualifiers with Fanatiz: Start your subscription now! Soccer South American World Cup Qualifiers South American World Cup Qualifiers Fanatiz Schedule: Paraguay vs Uruguay – Thursday, June 5 at 8:00 PM (GMT-3) / 7:00 PM ET / 4:00 PM PT Ecuador vs Brazil – Thursday, June 5 at 6:00 PM (Ecuador, GMT-5) / 8:00 PM (Brazil, GMT-3) / 7:00 PM ET / 4:00 PM PT Chile vs Argentina – Thursday, June 5 at 9:00 PM (Chile, GMT-4) / 10:00 PM (Argentina, GMT-3) / 9:00 PM ET / 6:00 PM PT Colombia vs Peru – Friday, June 6 at 3:30 PM (GMT-5) / 4:30 PM ET / 1:30 PM PT Venezuela vs Bolivia – Friday, June 6 at 6:00 PM (GMT-4) / 6:00 PM ET / 3:00 PM PT Bolivia vs Chile – Tuesday, June 10 at 4:00 PM (GMT-4) / 4:00 PM ET / 1:00 PM PT Uruguay vs Venezuela – Tuesday, June 10 at 8:00 PM (Uruguay, GMT-3) / 7:00 PM (Venezuela, GMT-4) / 7:00 PM ET / 4:00 PM PT Peru vs Ecuador – Tuesday, June 10 at 8:30 PM (GMT-5) / 9:30 PM ET / 6:30 PM PT Regional restrictions may apply. If you purchase a product or register for an account through one of the links on our site, we may receive compensation.
Time of India
07-05-2025
- Business
- Time of India
Wall Street opens higher as traders eye Fed decision, US-China trade talks
US stock markets opened modestly higher on Wednesday, with investors treading cautiously ahead of a critical Federal Reserve interest rate decision and renewed trade negotiations between the US and 9:45 a.m. GMT-4, the Dow Jones Industrial Average (DJIA) rose 238 points or 0.58% to 41,067, while the S&P 500 gained 20.52 points or 0.37% to reach 5,627.43. The Nasdaq Composite advanced 54.59 points or 0.31% to 17, gains in equities, gold prices slipped as geopolitical tensions showed early signs of easing, with the metal dropping $26.20 or 0.77% to $3,396.60 per ounce. Oil also edged down $0.38 to $58.71 per barrel, continuing a modest decline amid demand yields held steady, with the 10-year US Treasury yield at 4.297%, down slightly by 0.021 percentage points. The VIX volatility index rose marginally to 24.84, reflecting a measured level of market caution. Meanwhile, the euro traded at $1.135, slightly weaker against the Futures for the S&P 500 and Nasdaq composite rose 0.6%, while Dow Jones Industrial Average futures climbed 0.7%.Walt Disney Co. surged over 6% in premarket trading after reporting better-than-expected quarterly earnings. Revenue rose 7% year-on-year, with 2.5 million new subscribers added to Disney+ and results came shortly after Trump criticized foreign-made films, authorizing import taxes on international Arts also gained more than 5% after its preliminary quarterly results beat analysts' expectations for both sales and strong earnings from some firms, the uncertainty from escalating tariffs has impacted business outlooks. Some companies have issued dual earnings forecasts — one assuming higher tariffs and another without them — reflecting the market's Reserve Chair Jerome Powell is expected to maintain current rates, with officials wanting more data on how tariffs — including 145% duties on all Chinese imports — are affecting the around tariffs have influenced household sentiment and led to a spike in imports. The US trade deficit hit a record $140.5 billion in March, with businesses and consumers accelerating purchases ahead of further tariff Europe, midday trading was mixed with Germany's DAX flat, the CAC 40 in France down 0.6%, and the UK's FTSE 100 off 0.4%.Asian shares mostly rose as the US and China scheduled trade talks in Switzerland. Hong Kong's benchmark briefly jumped over 2% on fresh stimulus from Beijing aimed at countering the impact of US tariffs, though gains moderated later. The Hang Seng ended up just 0.1%, while Tokyo's Nikkei slipped 0.1%. Shanghai's Composite Index gained 0.8%.ING Economics' Lynne Song noted that China's easing measures were likely preemptive, intended to appear strategic rather than reactive to trade pressures. However, analysts expressed disappointment over limited fiscal support in Beijing's S&P/ASX 200 rose 0.3%, and South Korea's Kospi added 0.6%.In commodities, US crude oil increased 48 cents to $59.57 per barrel, while Brent crude rose 40 cents to $ dollar strengthened to 143.34 yen from 142.41 yen. The euro slipped slightly to $1.1365.
