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RealTime IT News

Accenture Jumps On Strong Earnings

Shares of Accenture leapt 9% Friday after the IT consulting and outsourcing firm delivered stronger than expected earnings.

Accenture earnings of 51 cents a share came in well ahead of analysts 43-cent estimates, and revenues rose 11% to $4.08 billion, slightly below forecasts. The company's August quarter guidance of 34-37 cent earnings and $3.8-$3.9 billion revenues was in line with expectations.

"Top-line growth across all five operating groups contributed to the highest quarterly net revenues in our history," CEO William Green said in a statement.

The broader market soared Friday on better than expected results from Alcoa , falling oil prices and tame jobs and wage growth.

The Nasdaq soared 37 to 2112, the S&P rose 13 to 1211, and the Dow surged 146 to 10,449. Volume declined to 1.9 billion shares on the NYSE, but rose to 1.69 billion on the Nasdaq. Advancers led 24-8 on the NYSE, and 22-8 on the Nasdaq. Upside volume was 80% on the NYSE, and 86% on the Nasdaq. New highs-new lows were 410-17 on the NYSE, and 182-20 on the Nasdaq.

Intel rose 2.7% after Bear Stearns raised estimates on the chip maker.

Siebel and SGI fell on warnings. Borland tumbled 12% on a warning and the resignation of its CEO.

Paradyne soared 47% on a takeover offer from Zhone , which lost 20% on the news.

Transmeta soared 36% after the company raised guidance.