Patni Computer Systems Ltd (PTI) reported earnings per ADS of 38 cents, exceeding the Zacks Consensus Estimate of 34 cents for the third quarter of 2009.   Revenues during the quarter were higher by 3.3% sequentially to $167.2 million from $161.9 million in the preceding quarter. Revenue growth was driven by volume growth of 3.0% (including higher number of days) and 0.3% due to currency impacts. Number of active clients was 283 at quarter end as compared to 294 in the second quarter of 2009.   Gross margin was at 37.1% or $62.0 million against 34.7% or $56.2 million in the previous quarter. Gross profit adjusted for extraordinary items is at $60.9 million at 36.4% during the quarter. Improvement in gross margin is primarily on account of higher utilization and impact of cost rationalization measures.   Sales and marketing expenses during the quarter were $14.2 million at 8.5% ...

Fossil, Inc. (FOSL) has been cutting costs and inventory as it rides out the rough retail environment. The company surprised on second quarter Zacks Consensus Estimates by 25% and is optimistic for the remainder of the year.

Even though there was an earnings surprise, sales fell 10.6% to $315.9 million from $353.2 million in the year ago period which reflected the difficult economic environment for retailers.

Sales declined 11.1% in the wholesale businesses but increased 21.1% in the direct to consumer segment, which includes the company's Internet site.

Rest of the Year Outlook

The company is more bullish on the fourth quarter, the holiday shopping season, than the third quarter where it will be easier for it to capitalize on gains from the Internet site.

Third quarter earnings per share are forecast between 38 and 42 cents and sales are expected to be in the range of negative

...

For Immediate Release

Chicago, IL – August 25, 2009 – Four free stock picks are being made available today on Zacks.com. The industry’s leading independent research firm highlights one Zacks #1 Rank Strong Buy or a Zacks #2 Rank Buy stock for each of the four main styles of investing: Aggressive Growth, Growth & Income, Momentum, and Value.

The four highlighted picks are: Concho Resources Inc (CXO), Stepan Company (SCL), Standard Motor Products Inc. (SMP) and Patni Computer Systems Ltd. (PTI).      Today, Zacks is promoting its ''Buy'' stock recommendations. Four daily picks are offered free at http://at.zacks.com/?id=5607

Zacks #1 Rank Stocks have nearly tripled the S&P 500 since 1988, producing an average annual return of +26%. Performance has been notable even during volatile and down times. For example, during the last bear market, 2000-2002, the market tumbled -37.6% – but Zacks #1 Rank stocks gained +43.8%.

Here

...

Earnings estimates for Unisys Corporation (UIS) have moved sharply higher after its recent second-quarter report, in which the company announced earnings per share that easily surpassed the Zacks Consensus Estimate.

< ?DART(15);?> Shares are up more than 7% at the moment, which makes UIS a top-performing Zacks #1 Rank company. Volume is about 15.7 million shares, more than double the daily average of about 5.7 million.

UIS is a worldwide information technology company with a portfolio of IT services, software and technology. It specializes in helping clients secure their operations, increase the efficiency and utilization of their data centers, enhance support to their end users and constituents and modernize their enterprise applications.

Earnings Estimates Soar Higher

At the moment, the Zacks Consensus Estimate for this year and next is 8 cents per share and 20 cents per share, respectively. Those are stark improvements from

...

Here are the stocks added to the Zacks #1 Rank ("strong buy") List today:

Air Liquide SA (AIQUY) AMB Property Corp (AMB) American Capital Agency Corp (AGNC) American Public Education Inc (APEI) Artesian Resources Corp (ARTNA) Bayer AG (BAYRY) Brigham Exploration Co (BEXP) British American Tobacco (BTI) Cadbury Plc (CBY) Capitol Federal Financial (CFFN) Cardtronics Inc (CATM) Corrections Corporation of America (CXW) DBS Group Holdings Ltd (DBSDY) Dr Reddy's Laboratories Ltd (RDY) Flamel Technologies SA (FLML) Flanders Corp (FLDR) Franklin Resources Inc (BEN) Genesco Inc (GCO) GlaxoSmithKline Plc (GSK) HDFC Bank Ltd (HDB) Hellenic Telecom Organization SA (OTE) Henkel AG & Co KGAA (HENKY) HMS Holdings Corp (HMSY) Iconix Brand Group Inc (ICON) Ingram Micro Inc (IM) IntercontinentalExchange Inc (ICE) Longtop Financial Technologies ...

Here are the stocks added to the Zacks #5 Rank ("strong sell") List today:

Acergy SA (ACGY) Adobe Systems Inc (ADBE) Belden Inc (BDC) Black Hills Corp (BKH) Cousins Properties Inc (CUZ) CryptoLogic Ltd (CRYP) Delphi Financial Group Inc (DFG) Eastman Chemical Co (EMN) Grupo Aeroportuario del Centro Nort (OMAB) Harbin Electric Inc (HRBN) Kimco Realty Corp (KIM) M&T Bank Corp (MTB) Main Street Capital Corp (MAIN) Patni Computer Systems Ltd (PTI) Porter Bancorp Inc (PBIB) RPM International Inc (RPM) Ryder System Inc (R) Vornado Realty Trust (VNO) Whiting USA Trust I (WHX) Yingli Green Energy Holding Co Ltd (YGE) View the entire Zacks #5 Rank List.

Zacks Investment Research

Patni Computer Systems, Ltd. (PTI) based in Mumbai, India, is a leading provider of information technology services. The company delivers a comprehensive range of IT services through globally integrated onsite and offshore delivery locations primarily in India, through its global delivery model.The company reported in-line revenues and higher-than-expected earnings in the third quarter of 2008. We are projecting lower revenues for Q4:FY08 while we have a target of $719 million for FY08, down $23 million from our earlier projection of $742 million. For 2009, we have projected lower total revenue of $825 million. The company has witnessed unprecedented times recently relating to the meltdown of financial and capital markets globally. These times of high uncertainty and volatility are affecting its business directly and indirectly, and it is likely to see turbulent times in the short run.We believe that there is no significant upside to ...

The following article cites these stocks: SAP AG (SAP), Cognizant Technology Solutions Corp. (CTSH), Genpact Limited (G), Infosys Technologies Limited (INFY), Wipro Limited (WIT), AIG (AIG), Credit Suisse Group AG (CS), BT Group Plc (BT), Patni Computer Systems Ltd. (PTI) and Satyam Computer (SAY).

The current global economic and market downturn has taken its toll on the IT Services group as a whole. The Business Process Outsourcing (BPO) companies were all under significant pressure even before the current economic malaise, with a slowdown in its growth trajectory for 2008, and the Street had already discounted the 2008 slowdown relative to 2007. In other words, the BPO companies were all trading with an early-2009 growth/recovery story in mind.

However, this thesis is now undergoing some re-evaluation, given that overall recovery prospects are being pushed towards the latter half of 2009. The current financial market fallout adds further uncertainty to their growth picture, with

...

The following article cites these stocks: SAP AG (SAP), Cognizant Technology Solutions Corp. (CTSH), Genpact Limited (G), Infosys Technologies Limited (INFY), Wipro Limited (WIT), AIG (AIG), Credit Suisse Group AG (CS), BT Group Plc (BT), Patni Computer Systems Ltd. (PTI) and Satyam Computer (SAY).

The current global economic and market downturn has taken its toll on the IT Services group as a whole. The Business Process Outsourcing (BPO) companies were all under significant pressure even before the current economic malaise, with a slowdown in its growth trajectory for 2008, and the Street had already discounted the 2008 slowdown relative to 2007. In other words, the BPO companies were all trading with an early-2009 growth/recovery story in mind.

However, this thesis is now undergoing some re-evaluation, given that overall recovery prospects are being pushed towards the latter half of 2009. The current financial market fallout adds further uncertainty to their growth picture, with

...