- Accenture Raises 2008 Profit Guidance
- Accenture quarterly net rises 34%; firm lifts forecast
- Accenture 1Q Profit Rises 25 Percent
- Accenture says no deals canceled due to economy
This should help them start to move back towards their 52 week high of $44 (currently about $35).
Bad News: TRID had their CFO resign (Trident Microsystems CFO Resigns). While that is not automatically a negative, I feel it can be a red flag.
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1 comment:
Marsh,
I see the ACN and ORCL earnings announcements from this week as really bullish for the global economy. I've always seen these two companies as canaries in the coal mine for the overall health of the economy. Here is the ACN conference all transcript:
http://seekingalpha.com/article/57892-accenture-f1q08-qtr-end-11-30-07-earnings-call-transcript?source=yahoo
Hers is the ORCL conference call transcript:
http://seekingalpha.com/article/57895-oracle-f2q08-qtr-end-11-30-07-earnings-call-transcript?source=yahoo
Both of these companies basically rely on extremely large IT projects for medium to large sized companies around the world. IT budgets are a great indicator of business leader confidence. IT budgets can be quickly reduced. ORCL and ACN were both very good indicators of the last two recessions (granted, ACN was not a public company in the early 90's but they laid off a ton of people).
So anyway, it looks like they both are going to have a great 2008, which I believe is a hugely bullish sign for next year.
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