China's Refining Industry Faces Major Shakeup Amid Challenges 
Firelight Launches as First XRP Staking Platform on Flare, Introduces DeFi Cover Feature 
Do investment tax breaks work? A new study finds the evidence is ‘mixed at best’ 
Gold Prices Rise as Markets Await Trump’s Policy Announcements 
KiwiSaver shakeup: private asset investment has risks that could outweigh the rewards 
Trump Administration to Secure Equity Stake in Pat Gelsinger’s XLight Startup 
Momenta Quietly Moves Toward Hong Kong IPO Amid Rising China-U.S. Tensions 
Mexico's Undervalued Equity Market Offers Long-Term Investment Potential 
U.S. Stock Futures Rise as Trump Takes Office, Corporate Earnings Awaited 
Netflix’s Bid for Warner Bros Discovery Aims to Cut Streaming Costs and Reshape the Industry 
Insignia Financial Shares Hit 3-Year High Amid Bain and CC Capital Bidding War 
Australia Moves Forward With Teen Social Media Ban as Platforms Begin Lockouts 
Apple Appoints Amar Subramanya as New Vice President of AI Amid Push to Accelerate Innovation 
Elliott Investment Management Takes Significant Stake in BP to Push for Value Growth 
U.S. Backs Bayer in Supreme Court Battle Over Roundup Cancer Lawsuits 
Investors value green labels — but not always for the right reasons 
Bristol Myers Faces $6.7 Billion Lawsuit After Judge Allows Key Shareholder Claims to Proceed 
Infosys shares fell nearly 6% on Friday, marking their largest one-day decline since July 2023. The drop followed concerns raised by analysts over the quality of earnings in its third-quarter report. By 11:49 a.m. IST, Infosys shares were down 5.7%, weighing heavily on both the Nifty IT index and the benchmark Nifty 50, which declined 2.5% and 0.7%, respectively. Its U.S.-listed shares also dipped about 6% overnight.
The company raised its annual revenue forecast for the third time this financial year, driven by increased spending from U.S. banking and retail clients on discretionary projects. This mirrors trends seen in competitors Tata Consultancy Services and HCLTech. Despite the optimistic outlook, analysts expressed concerns about the reliance on "third-party items" in Infosys' deal pipeline, which cast doubts on the quality of the reported earnings beat.
Morgan Stanley noted that commentary around small deal pipelines showed no significant improvement, suggesting a gradual industry recovery. Small deals account for over two-thirds of Infosys' total deal intake, according to BofA Global Research. Markets now seek concrete signs of increased discretionary spending rather than optimistic commentary from IT firms.
Infosys shares have risen 22.5% in 2024, outperforming Tata Consultancy Services and LTIMindtree, but trailing HCLTech, which gained 31%. The earnings report, while positive on paper, has sparked debate on whether revenue growth is sustainable, given the current market dynamics.
