- Cognizant Technology Solutions Corp (NASDAQ:CTSH) named Ravi Kumar S as CEO and a member of the Board, effective immediately.
- Kumar succeeds Brian Humphries in both roles. Humphries will remain with the company as a special advisor until March 15, 2023.
- Kumar joined Cognizant after a 20-year career at Infosys Limited (NYSE:INFY), where he held various leadership roles, most recently serving as President from January 2016 through October 2022.
- Cognizant has elected board member Stephen J. Rohleder as the Chair of the Board.
- Rohleder brings decades of experience from his 35-year tenure in senior roles with Accenture Plc (NYSE:ACN).
- Former Chair Michael Patsalos-Fox will remain on the Board as an independent director.
- Outlook: Cognizant expects fourth-quarter and full-year revenue of $4.8 billion (consensus of $4.75 billion) and $19.4 billion (consensus of $19.34 billion), respectively, up from prior expectations of $4.72 billion – $4.77 billion for Q4 and $19.3 billion for FY22.
- Cognizant expects FY22 adjusted EPS of $4.38-$4.40, down from prior guidance of $4.43-$4.46.
- Price Action: CTSH shares traded higher by 7.64% at $66.20 on the last check Thursday.
- Photo Via Company
Dow Tumbles 150 Points; Tesla Shares Drop After Q1 Results
U.S. stocks traded lower this morning, with the Dow Jones dropping over 150 points on Thursday.
Following the market opening Thursday, the Dow traded down 0.50% to 33,727.89 while the NASDAQ fell 0.49% to 12,097.82. The S&P 500, also fell, dropping, 0.58% to 4,130.33.
