India's Infosys Q3 profit up 21.4%, raises sales outlook

India's Infosys Q3 profit up 21.4%, raises sales outlook



Mumbai (AFP)



Indian outsourcing giant Infosys reported Friday a better-than-expected 21.4 percent jump in quarterly net profit, led by improved demand from Europe and the United States.



The company also hiked its full-year revenue outlook, driving up its shares by around two percent.



Consolidated net profit for the Nasdaq-listed firm climbed to 28.75 billion rupees ($463 million) in the October-to-December quarter from 23.69 billion rupees in the same period a year earlier.



Analysts had expected Infosys to report a net profit of 27 billion rupees.



Revenues jumped 25 percent to 130.26 billion rupees in the third financial quarter from 104.24 billion rupees in the year-ago period.



The company's results kicked off India's quarterly earnings season.



It forecast revenues would increase by 11.5 to 12 percent in dollar terms for the fiscal year to March 2014 -- a notch above its earlier outlook of 9.0-10.0 percent growth.



"The year ahead looks exciting for the IT services industry. We believe the global economic environment has improved and our clients are gaining confidence to invest in their strategic initiatives," said Infosys's chief executive S.D. Shibulal.



Bangalore-based Infosys been undergoing major changes with a string of departures by some of its senior staff since co-founder and business icon N.R. Narayana Murthy returned in a bid to reboot the company's fortunes last June.



Infosys -- created three decades ago by Murthy and six others as they sat around a kitchen table -- has been losing market share to rivals such as Tata Consultancy Services and HCL.



Last October, Infosys said it would pay $34 million to the US government to settle an investigation into alleged visa fraud by the company.



Many of India's IT outsourcing firms have reported subdued growth in recent years due to a sharp global economic slowdown.



(Agence France-Presse, 10 Friday January 2014 The Roman)

NY shares soaring, $ 323, since 10-month one year high price

NY shares soaring, $ 323, since 10-month one year high price

 

ＮＹ株急騰、３２３ドル高　上げ幅１年１０カ月ぶり

 

【ニューヨーク共同】１０月１０日のニューヨーク株式市場のダウ工業株３０種平均は米財政協議の進展期待で大幅続伸し、終値は前日比３２３・０９ドル高の１万５１２６・０７ドルとなった。

 

終値ベースの上げ幅としては２０１１年１２月２０日以来、約１年１０カ月ぶりの大きさ。

 

４営業日ぶりに１万５０００ドル台を回復した。

 

ハイテク株主体のナスダック総合指数は８２・９７ポイント高の３７６０・７５。

 

幅広い銘柄で構成するＳ＆Ｐ５００種株価指数は３６・１６ポイント高の１６９２・５６の大幅高となった。

 

連邦債務の上限引き上げで、財政協議進展との情報への期待感から、ダウ平均は全面高の展開となった。

 

(共同通信)

 

（神奈川新聞、2013年10月11日）

 

 

NY shares soaring, $ 323, since 10-month one year high price

 

(New York Kyodo) Dow Jones Industrial Average of the New York Stock Exchange on the 10th October was sharply higher in the progress expected of the U.S. financial consultation, the closing price was $ 15,126.07, compared with the day before $ 323.09 high.

 

Since December 20th 2011, the size of the 10-month and one year as of high price, based on the closing price.

 

It recovered the $ 15,000 units in four business days.

 

NASDAQ composite index of high-tech shareholder of 3760.75, 82.97 points higher.

 

S & P 500 stock index to be configured in a wide range of issues was a significant high of 1692.56, 36.16 points higher.

 

At the high end raising the federal debt, from expectations for information and financial consultation progress, the Dow Jones Industrial Average was the deployment of full high.

 

(Kyodo News)

 

(Kanagawa Shimbun, 11 Friday October 2013 The Roman)

(Translated: R.S.F. tohiki speed news press, Agence France-Presse, 11 Friday October 2013 The Roman)

 

 

Nasdaq blames massive trading halt on software bug

Nasdaq blames massive trading halt on software bug

 

The Nasdaq's massive trading halt last week was due to a software bug and other internal technology issues triggered by problems at NYSE Euronext's Arca exchange that led a key backup system to fail, the exchange operator has said.

 

[caption id="attachment_7648" align="alignnone" width="400"] (Nasdaq said it was in the process of identifying potential design changes (Photo: AFP))[/caption]

 

Nasdaq said it was "deeply disappointed" by the three-hour outage on August 22, and while it pointed to connection problems between rival NYSE's electronic exchange Arca and the Nasdaq-run system that receives all traffic on quotes and orders for Nasdaq stocks, it took ultimate responsibility for the glitch.

 

"Our backup system did not work," Bob Greifeld, Nasdaq's chief executive, told Reuters in an interview.

 

"There was a bug in the system, it didn't fail over properly, and we need to work hard to make sure it doesn't happen again," he said, referring to the inability of the system to fully revert to backup mode.

 

New York Stock Exchange parent NYSE declined to comment.

 

Nasdaq said it was in the process of identifying potential design changes to make the Securities Information Processor, or SIP, more resilient, "including architectural improvements, information security, disaster recovery plans and capacity parameters".

 

The exchange plans to present its initial recommendations for change to the SIP governing committee, made up of US exchanges and the Financial Industry Regulatory Authority, within 30 days.

 

Nasdaq said that on the morning of August 22, Arca connected and disconnected to the SIP more than 20 times, eating up capacity.

 

It said the SIP's capacity was further eroded as Arca sent a stream of inaccurate stock symbols to the SIP, generating numerous rejection messages.

 

Each data port connecting to the SIP can handle 10,000 messages per second, Nasdaq said.

 

But in this case, the traffic from Arca was more than double that, the exchange said.

 

"The confluence of these events vastly exceeded the SIP's planned capacity, which caused its failure and then revealed a latent flaw in the SIP's software code," the Nasdaq report said.

 

This software flaw prevented the processor's built-in backup system from resetting properly, delaying the return of data.

 

With the system degraded, the exchange said it decided to halt trading to ensure fair market conditions.

 

Nasdaq said it took 30 minutes to resolve the problem and then nearly three more hours to test and evaluate scenarios to reopen the market in a fair and orderly manner.

 

"Nasdaq OMX is deeply disappointed in the events of August 22 and our performance is unacceptable to our members, issuers and the investing public," the exchange said.

 

"While getting to 100pc performance in all of our activities, including our technology is difficult - it is our objective."

 

(The Telegraph, 29 August 2013 The Roman)