RealTime IT News

Accenture Accents Profits

Accenture shares rose in late trading Wednesday after the consulting and services firm delivered better than expected results and guidance.

Accenture's earnings of 46 cents a share were four cents ahead of estimates, while sales rose 14% to $4.75 billion, well ahead of $4.51 billion forecasts.

The company's forward guidance was also better than analysts were looking for, and $5.5 billion in consulting and outsourcing bookings raised hopes that the good news will continue.

Accenture shares gained 2% in after-hours trading.

Also after the close, Jabil fell 3% on a warning.

Stocks finished the day with modest losses after an early rally on merger news gave way to profit-taking.

Redback Networks was the tech standout of the day, soaring 21% on a takeover offer from Ericsson .

HP gained 2% on a Bank of America upgrade.

Palm slipped 1% after beating estimates but lowering guidance. Systemax surged 16% on its results.

Digitas soared 22% on a buyout offer from Publicis .

The Nasdaq lost 2 to 2427, the S&P 500 slipped 2 to 1423, and the Dow gave back 7 to 12,463. Volume declined to 2.33 billion shares on the NYSE, and 1.81 billion on the Nasdaq. Advancers led 18-14 on the NYSE, and 17-13 on the Nasdaq. Upside volume was 54% on the NYSE, and 55% on the Nasdaq. New highs-new lows were 252-18 on the NYSE, and 98-48 on the Nasdaq.