Page 8 - Nasdaq

Cognizant Q4 profit up 7% at $558 mn, 2024 revenue guidance at -2% to 2%

The firm, based in Teaneck, New Jersey, reported a 7 per cent increase in net profit at $558 million for the December quarter

Nasdaq planning to cut hundreds of jobs amid integration of Adenza

Nasdaq is considering cutting some positions and may reallocate others in a bid to minimize redundancies, according to people familiar with the matter

Nasdaq talks to India about overseas listings for local companies

Allowing Indian companies to list abroad on exchanges like Nasdaq will give them wider access to capital, Nasdaq's Executive Vice Chairman Edward Knight said in an interview

Baidu terminates $3.6 bn purchase of JOYY's China live-streaming unit

The failure of the deal casts a shadow on search engine giant Baidu's ambition to diversify its revenue. The company proposed to acquire JOYY's entertainment live streaming business in China in 2020

Sensex soars 359pts, Nifty tops 21,250 amid broad buying; Inox India up 41%

Closing Bell on Thursday December 21: In the broader markets, the BSE MidCap and SmallCap indices outpaced frontline indices as they climbed 1.6 per cent and 1.69 per cent, respectively

Nasdaq hit by system error affecting thousands of trades, nixing some

The incident, starting around 2:30 p.m. New York time, involving "certain FIX/RASH order entry ports," Nasdaq said in an emailed statement that didn't elaborate on the cause

Nasdaq planning to repurpose technology from curtailed crypto foray

Nasdaq and other mainstream financial firms pulled back on their ambitions in digital assets as regulators seek to isolate the US financial system from cryptocurrencies

NASDAQ can play key role in attracting global investors to India: Official

NASDAQ can play a key role in bringing much-needed investment into India from global investors, according to a top official of the American stock exchange. India has right now "over 200 very large startup companies that could go public in future" and that's unheard of anywhere else in the world, NASDAQ executive vice chairman Edward Knight told PTI in an interview on Tuesday. NASDAQ (National Association of Securities Dealers Automated Quotations) is a stock exchange that lists some of the world's largest technology companies, such as Apple, Microsoft, and Amazon. It is one of the world's oldest and second-largest stock exchanges by market capitalisation, after the New York Stock Exchange (NYSE). Knight noted that India has "a very strong legal system...very strong universities" and "all the ingredients that have produced and could continue to produce great early-stage companies, innovation and technological innovation". "But," he said, "you need capital and the capital needs of In

Cognizant Q3 profit down 16.5%, 2023 revenue guidance at -0.7% to flat

The revenue for Q4 is expected to be in the range of $4.69-$4.82 bn, a fall of 4% to 1.2% in constant currency, due to furloughs and lower number of working days in the Dec quarter

Nasdaq, S&P 500 edge higher as Amazon, Intel lift beaten-down megacaps

Core inflation which excludes volatile food and energy components rose 0.3%, meeting estimates

Instacart goes from supermarket to stock market, raising $660 mn with IPO

Instacart is heading from the supermarket to the stock market. The San Francisco-based grocery delivery company raised USD 660 million in its initial public offering of stock, selling 22 million shares at USD 30 apiece. Its shares were set to begin trading on Tuesday on the Nasdaq stock exchange under the stock symbol CART. The pricing of the IPO gave Instacart a market value of around USD 10 billion, significantly lower than the USD 39 billion value placed on it after a fund-raising round in 2021. Instacart provides delivery and pickup from 85 per cent of US grocers, or more than 80,000 stores, using a network of 600,000 freelance shoppers. It also provides in-store technology, like smart carts and electronic shelf tags, and sells online ads to food companies and retailers. It says it has 7.7 million active customers who spend about USD 317 per month on the platform. In a letter to investors earlier this month, Instacart CEO Fidji Simo said grocery delivery has tremendous potent

SoftBank's Arm eyes $62 billion valuation in likely stellar Nasdaq debut

Its stock opened at $56.1 per American Depositary Share compared with the initial public offering (IPO) price of $51, in a sign of confidence for other companies planning to list

SoftBank Group in talks to acquire Vision Fund's 25% stake in Arm

The discussions come as Softbank is preparing to list the chip designer on Nasdaq next month at a valuation of $60 billion to $70 billion

US recognises India's enormous intellectual capital: Policy expert Sowle

America recognises India's enormous intellectual capital, and integrating India with the manufacturing ecosystem in core sectors like semiconductor will be key, according to policy thinktank founder Guruprasad Sowle. He said that the US is no longer looking at India only as a destination for services. Sowle, who heads Indus International Research Foundation (IIRF), had met Prime Minister Narendra Modi during his state visit to the US in June. "Even if it means transfer of technology from US to India, gradually that will happen because there are certain technologies that America was not really forthcoming in terms of sharing but after this visit by the Prime Minister, there is a considerable shift towards manufacturing in India," Sowle said. He noted that there was a paradigm shift where the US is no longer seeing India only as a destination for services. "They are seeing India to step up in core sectors, especially aerospace and defence, automotive, healthcare, artificial intellig

2 senior execs of Freshworks quit after co-founder's exit in March

Company says new chief human resource officer will start work later in August and it looking for a chief marketing officer

Cognizant Q2 profit down 19.7%, retains 2023 revenue growth guidance

Chief Financial Officer Jan Siegmund to retire in early 2024 but plans to stay in his role until the company identifies a successor and transition is completed

Sebi's move to regulate index providers on hold; revised proposal on cards

A regulatory framework for index providers was cleared by Sebi's board at its meeting held in March. The regulator, however, is yet to notify changes

US big tech's dominance in stock market hits breakpoint for Nasdaq 100

The seemingly unstoppable growth of megacaps like Apple Inc. and Microsoft Corp. mean they have breached an upper limit imposed on stocks in the Nasdaq 100

Nasdaq ends up, dollar strengthens as Powell hints at more rate hikes

The S&P 500 ended essentially unchanged, while the blue-chip Dow Jones Industrial Average closed negative territory, weighed down by healthcare stocks

Nasdaq to acquire financial services software company Adenza for $10.5 bn

Nasdaq on Monday said it has acquired Adenza, a company that develops risk-management and related regulatory software for the financial services market, for $10.5 billion