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Stock market investing software Progress Software lls on weak 2Q outlook
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NEW YORK &8212 Progress Software Corp.s stock plunged more than 11 percent on Friday after the business software maker announced that its second-quarter results are likely to come in below analysts expectations.

stock market investing software Progress Software lls on weak 2Q outlook, THE SPARK: Late Thursday Progress Software said that it expects quarterly adjusted earnings of 17 cents to 19 cents per share on revenue of $110 million to $115 million. Analysts surveyed by FactSet predict earnings of 28 cents per share on revenue of $126.2 million.

Progress Software said that its quarterly performance was hurt in part because of its recently announced strategic plan.

In April the company announced that it planned to cut its workforce by 10 percent to 15 percent and eliminate 10 product lines as it looked to cut costs and concentrate more on cloud computing. The job cuts were expected to affect 175 to 260 of its 1 stock trading software NASDAQ Adds Third Equity Options – Analyst Blog, 744 workers.

The Bedford, Mass., company will report its second-quarter financial results on June 27.

THE ANALYSIS: Greg McDowell of JMP Securities reaffirmed a Market Perform rating on Progress Software but lowered its price target to $25 from $27. The analyst said in a client note that he was disappointed by the second-quarter results, but remains confident in the companys core business.

Source: Stock market software

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Dollar no longer welcome at Taj Mahal

2007-11-19 10:52:28 by azmabehtaroon

A statement by India's Ministry for Tourism and Culture said the government had decided to act "in view of the international practices and also to avoid any anomaly on account of falling exchange rates of the US dollar vis-a-vis the rupee and the consequent fall in revenues".
Until the change, foreign tourists visiting the Taj Mahal in Agra, south-west of Delhi, could enter by paying a fixed $5 (�2.45) fee ? a price that was set when the dollar was worth around R50. But with the dollar having fallen by 12 per cent this year against the rupee and the current exchange rate closer to R39 to the dollar, the government has now fixed the entry price for foreigners at R250 ? more than $6.

I disagree

2002-10-30 18:52:26 by with_thou

Basically, the technology sector might be dead at the moment but it will certainly not be going anywhere. Technology has been fundamentally ingrained into our lives at this point.
Do you really think there will be no more servers here? Do you really think nobody here would maintain them? Do you really think all design will be outsourced? How about programming?
When you say IT is going overseas you are probably correct when it comes to application development. Will there be no need for developers here? Never. There are people employed with IT jobs right now that have not had a pay cut (I know some). When it comes to outsourcing there are a million considerations you are not taking into account. Any person familiar with economics would point out that there are really not that...

Rupee fall to help IT sector post impressive quarterly results  — Business Today
However, the euphoria could be shortlived when new contracts will be signed under the existing dollar-rupee exchange rate. "In the short-term, the slide in rupee will be good for IT companies as it will bring in additional revenues to them, …

Gokarn reiterates RBI has more room for monetary easing  — Business Standard
According to Gokarn, pressure on inflation is seen from food prices, fall in the rupee's exchange rate, and from the fiscal side. “There is fiscal pressure in the sense that the actions that were indicated that would bring the fiscal deficit to the …

Current fiscal year: Rupee depreciates by 7.8 percent against dollar  — Business Recorder
After witnessing stability in last fiscal year (2010-11), the rupee exchange rate remained very volatile during this fiscal year (2011-2012) and lost 7.8 percent against US dollar. Besides the first 10 months of current fiscal year, …

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