Analyst sees slump in offshore IT sector bottoming, but upturn not yet visibleAugust 24th, 2009 Analyst sees offshore IT sector slump bottomingA Wells Fargo analyst upgraded the offshore information technology and business process outsourcing sector on signs that its business slump may be bottoming. Jennifer Fritzsche raised her rating on the sector to "Market Weight" from "Underweight." While cautioning that a business upturn is not yet apparent, she said there are signs the market is stabilizing especially in financial services as well as the North American market.
Advertising forecaster says 2009 global spend to fall 8.5 percent, but sees signs of bottomingJuly 6th, 2009 Global ad spend still to fall, signs of bottomingA key advertising forecaster said Monday that global ad spending shows signs of reaching bottom as some sectors held up better than expected during the second quarter. Although ZenithOptimedia, a unit of French advertising conglomerate Publicis Groupe, slashed its 2009 spending estimate for a second time this year, the forecaster now expects a mild recovery next year and a stronger rebound in 2011.
China's Baidu.com says profit up 44.6 percent on strong growth in revenue, advertisersJuly 24th, 2009 China's Baidu.com says profit up 44.6 percentBEIJING — Baidu Inc., which operates China's leading Internet search engine, said Friday its quarterly profit rose 44.6 percent from a year earlier on strong growth in revenue and numbers of advertisers. Net income for the three months ending June 30 was 383.3 million yuan ($56.1 million), or 11.02 yuan ($1.61) per share, the Beijing-based company said.
Gartner says technology spending will rebound in 2010; 2009 is 'worst year ever'October 19th, 2009 Gartner: Tech spending will rebound in 2010ORLANDO, Fla. — Research group Gartner Inc.
Radio Giant Clear Channel launches online radio station after ad revenues fell in the real marketJune 8th, 2009 Radio giant Clear Channel amps up digital strategy
PHILADELPHIA — Clear Channel Communications Inc., the nation's largest owner of radio stations, is ramping up its strategy to stream radio to mobile phones, computers and other devices. On Monday, Clear Channel was officially launching an online media player that consolidates access to its roughly 850 radio stations at IHeartRadio.com.
Manhattan Associates shares jump after analyst upgrades, sees solid 3Q after tough first halfOctober 15th, 2009 Analyst sees growth in 3Q for Manhattan AssociatesSEATTLE — Shares of Manhattan Associates Inc. skyrocketed Thursday after an analyst said the software maker seems to have turned the corner after a "miserable" first half.
Hynix Semiconductor records first net profit in 2 years on rebound in memory chipsOctober 22nd, 2009 Hynix records first net profit in 2 years on chipsSEOUL, South Korea — Hynix Semiconductor Inc. recorded its first quarterly net profit in two years as prices for memory chips rose in a rapidly recovering market.
Stocks decline in early trading amid mixed earnings, disappointing durable goods reportJuly 29th, 2009 Stocks fall on economy worriesStocks are falling in early trading Wednesday as investors grow increasingly wary about the economic recovery. A new report on U.S.
Indian IT industry to help in US economic recoveryApril 11th, 2009 WASHINGTON - India's information technology industry should start hiring in the US to help in its economic recovery as the US is always going to be its biggest market, the industry association's head has suggested. The restrictions on H1B visas in the US 'absolutely is a concern,' Pramod Bhasin, president and chief executive of outsourcing firm Genpact and the new chairman of the National Association of Software and Services Companies (Nasscom), said in an interview with Forbes Asia.
Signs of online advertising revival popping up as marketing in other media remains in funkOctober 20th, 2009 Internet advertising appears to begin its comebackSAN FRANCISCO — After bogging down in the recession, Internet advertising is regaining the momentum that has made it the decade's most disruptive marketing machine. The signs of an online revival are emerging even while advertising in print and broadcasts remain in a slump that has triggered mass layoffs, pay cuts and other upheaval.
Futures point to lower open ahead of earnings, reports on durable goods, business activityJuly 29th, 2009 Stock futures point to lower Wall Street openStock index futures pointed toward a lower start on Wall Street Wednesday as investors grew increasingly wary about the economic recovery. A new report on U.S.
Solera Holdings sees fiscal 2010 earnings, revenue gainsAugust 28th, 2009 Solera sees fiscal 2010 earnings, revenue gainsSAN DIEGO — Solera Holdings Inc., which provides software and services for the auto insurance claims industry, said Thursday it expects to earn an adjusted profit of between $1.76 per share and $1.83 per share for the fiscal year 2010. Analysts polled by Thomson Reuters forecast a profit of $1.82 per share for the fiscal year ending in June.
Newspapers' 2Q advertising sales plummet 29 percent, reducing revenue by $2.8B from last yearAugust 28th, 2009 Newspaper slump deepens as 2Q ad sales fall 29 pctSAN FRANCISCO — Newspapers' financial woes worsened in the second quarter as advertising sales shrank by 29 percent, leaving publishers with $2.8 billion less revenue than they had at the same time last year. It's the deepest downturn yet during a three-year free fall in advertising revenue — newspapers' main source of income.
Goldman Sachs raises 2010 IT spending view, predicts double-digit online ad growth next yearSeptember 21st, 2009 Goldman Sachs raises 2010 outlook for IT spendingSAN FRANCISCO — Goldman Sachs increased its 2010 outlook for global information technology spending on Monday and also predicted online advertising will return to double-digit growth next year. In a note to clients, the investment bank raised its IT spending forecast to 4 percent growth from 2 percent, citing improvements in macro indicators like gross domestic product and corporate profits.
Technology sector's big earnings week to reveal broader economic trendsJuly 18th, 2009 Big tech earnings week will reveal economic trendsSEATTLE — The technology sector is often talked about as if it were a unified front, an easy-to-define monolith. People say technology stocks rose or technology stocks fell.
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