Analyst sees slump in offshore IT sector bottoming, but upturn not yet visible

September 16th, 2009 Sector Snap: Broadpoint downgrades chipsNEW YORK — Several chip stocks took a hit Wednesday after a Broadpoint AmTech analyst downgraded the semiconductor sector, saying there is a "good risk of inflated expectations" for the industry. "Our downgrade today to equal weight is in response to a faster-than-expected recovery to demand levels in both the PC and handset space," analyst Doug Freedman wrote in a note to investors.

January 14th, 2009 KOLKATA - The recruitment in the information technology (IT) sector in West Bengal is likely to be lower than the target set by the government due to the global economic meltdown, state IT minister Debesh Das said here Thursday. 'Last year we generated employment for around 15,000 people in the IT sector and this year we had set a target of 20,000.

April 3rd, 2005 Indian Outsourcing industry is increasingly turning towards software testing. In fact we have started providing software testing services to customers from 2005.

September 16th, 2009 Analyst upgrades VanceInfo, raises estimatesNEW YORK — Shares of offshore software developer VanceInfo Technologies Inc. surged 10 percent Wednesday after an analyst upgraded the company's shares and raised his estimates citing strong demand from telecommunications companies.

August 3rd, 2009 Earnings Preview: Cisco to report fiscal 4th qtrNEW YORK — Cisco Systems Inc., the world's largest maker of computer networking gear, reports its fiscal fourth-quarter results on Wednesday. The following is a summary of key developments and analyst opinion related to the period, which ran from April 26 to July 25: OVERVIEW: When it reported results for the February to April quarter, Cisco said that sales seemed to be bottoming out after falling last year, culminating in big slide in January.

February 21st, 2009 DURGAPUR - Coming down heavily on India's ruling United Progressive Alliance for neglecting the recession-hit small scale sector, West Bengal Chief Minister Buddhadeb Bhattacharjee Saturday said the central government seemed only concerned with big companies like Satyam. 'The small scale sector is very badly hit.

July 22nd, 2009 Software AG 2Q net profit up 7 percentFRANKFURT — Germany's Software AG said Wednesday that its second quarter net profit rose 7 percent on a strong improvement in revenue from licenses and maintenance. The Darmstadt-based company reported a net profit of euro29 million ($41 million) in the April-June period, compared with euro27 million a year earlier.

April 15th, 2009 WASHINGTON - With major companies in the Silicon Valley suffering the biggest slump since the dot-com bust, some firms are eyeing India and China to recover from the effects of a global economic meltdown. The total market capitalisation of the leading technology hub's 150 biggest public companies plunged 32 percent to about $850 billion for the last 12 months ending March 31, the worst decline since 2002, according to an annual survey by the San Jose Mercury News.

September 16th, 2009 American Express, Adobe, General Mills big moversNEW YORK — The following stocks were among those that moved substantially or traded heavily Wednesday on the New York Stock Exchange and Nasdaq Stock Market: NYSE: American Express Co., up $1.19 at $35.84 Analysts concluded that industry data shows the company is positioned to best recover from recent high defaults and delinquencies. Warner Music Group Corp., up 33 cents at $4.87 An analyst upgraded the recording company and applauded its decision to tap capital markets for permanent financing.

April 20th, 2009 MOHALI - Smartdata enterprises, an offshore software outsourcing company, has expertise in web and software applications development in the ever-growing software development offshore outsourcing global market. In 1996, SmartData Enterprises Incorporation, a consulting company was formed in Silicon Valley, California.

July 18th, 2006 China's telecoms regulator has accused 102 companies of illegal behavior in the country's wireless value-added services industry, the latest step in a renewed campaign to clean up the unruly sector. It did not specify what the illegal practices were, but in the past such campaigns have been directed at controversial content and services like pornography and gambling, as well as spam.

September 21st, 2009 Lennar, Wal-Mart, Jack in the Box big moversNEW YORK — The following stocks were among those that moved substantially or traded heavily Monday on the New York Stock Exchange and Nasdaq Stock Market: NYSE: Potash Corp., down $4.05 at $93.09 The Canadian fertilizer company slashed its third-quarter and full-year 2009 profit forecast because of lagging sales volume. Granite Construction Inc., down $1.71 at $32.10 An analyst cut his rating for the civil contractor and producer of construction materials, saying it isn't getting enough new business.

January 13th, 2009 SAN FRANCISCO - Global purchases of information technology goods and services may decline by three percent in 2009, ending seven years of growth, US research firm Forrester said in its latest report on global IT market outlook It said global IT purchases by businesses and governments will fall to $1.66 trillion. The decline is a distinct shift from 2008, when global IT purchases increased by eight percent.

August 25th, 2009 Analyst says Intel 2010 prospects 'look good'NEW YORK — A Raymond James analyst said Tuesday that Intel Corp.'s prospects for 2010 "look good," and kept an "Outperform" rating on the chip maker. Analyst Hans Mosesmann said in a note to investors that an enterprise upgrade cycle — that is, businesses upgrading their computers and other technology products — "is in the cards over the next one to two years in our view." The analyst added that adoption of Intel's Atom chip in netbooks "continues to be good and has stabilized, with cannibalization not the issue anymore." Atom is Intel's first microprocessor for "netbooks," which are mini-laptops that do less than regular laptops, but are very popular because they also cost less.

April 18th, 2009 Though the financial sector has started showing some signs of recovery from the global meltdown, the IT industry in the country will take some more time to regain the growth momentum, a top industry official said here saturday. 'The crisis started in the financial sector and recovery also seems to be happening first in that sector,' S.