Tag - Exls

Royal Bank Pennsylvania (Nasdaq:RBPAA), CryptoLogic Ltd. (Nasdaq:CRYP) and Reddy Ice Holdings Inc. (Nasdaq:FRZ) are among the new 52-week lows in Thursday's trading among companies with market capitalizations under $1 billion.   

Also included among the results: China East Air (Nasdaq:CEA), Bancorp Bank (Nasdaq:TBBK), Physicians Formula Holdings Inc. (Nasdaq:FACE), Radiant Systems Inc. (Nasdaq:RADS), HMN Financial Inc. (Nasdaq:HMNF) and ExlService Holdings Inc. (Nasdaq:EXLS).        

Here are the new 52-week lows among small caps: 

Novatel Wireless Inc. (Nasdaq:NVTL), ExlService Holdings Inc. (Nasdaq:EXLS) and LNB Bancorp Inc. (Nasdaq:LNBB) are among the new 52-week lows in Wednesday's trading among companies with market capitalizations under $1 billion.   

Also included among the results: Radiant Systems Inc. (Nasdaq:RADS), National Dentex Corp. (Nasdaq:NADX) and EPIQ Systems Inc. (Nasdaq:EPIQ).

Here are the new 52-week lows among small caps:   

Emergent BioSolutions Inc. (Nasdaq:EBS), Citi Trends Inc. (Nasdaq:CTRN) and 51Job Inc. (Nasdaq:JOBS) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $1 billion.      

Also included among the results: ExlService Holdings Inc. (Nasdaq:EXLS), Micrus Endovascular Corp. (Nasdaq:MEND), Perficient Inc. (Nasdaq:PRFT), Reddy Ice Holdings Inc. (Nasdaq:FRZ), Overhill Farms Inc. (Nasdaq:OFI) and Key Technology Inc. (Nasdaq:KTEC).       

Here are the biggest percentage losers among small caps:   

Small-cap stocks took a tumble Wednesday, rattled by another record high in crude oil prices which could stunt an already tenuous economic recovery in the U.S by crimping consumer spending and raising costs for businesses. The Russell 2000 (NYSE:IWM) lost 13.57, or 1.86%, closing at 716.21.

The relentless advance in crude oil prices saw the market shoot up to $123 dollars a barrel Wednesday, stoked by ongoing jitters about supply out of Africa and geopolitical tensions in the Middle East. In addition, tight diesel stocks on the weekly Energy Information Administration report fueled additional buying in the energy arena. With national pump prices around $3.50 a gallon and the summer driving season peak still ahead of us, consumers likely will be in a dour mood about the prospect of even higher prices on the horizon.

Equities got an early boost this morning into the opening when the productivity report came in above expectations, up 2.2% versus the forecast for a gain of 1.6%. The market has seen a run of recent economic numbers that have topped the projection, but with equities knocking on the door of four-month highs, it didn’t appear to be enough good news to sustain the run.

In addition, the U.S. dollar shot higher against the euro, which has been a supportive element for equities lately — on the rare instances when the greenback mounts a rise against the euro.

However, some traders saw the dollar’s gain as being more indicative . . .

The Russell 2000 (NYSE: IWM) has rebounded from its earlier losses and is posting a solid gain.

At 11:31 a.m. ET, the small-cap index had advanced 6.21 points, or 0.92%, to 680.02. The Dow Jones Industrial Average (INDU) was up 120.25 points, or 0.99%, to 12,277.06.

Small-cap stocks started rising sharply after hitting a session low at about 10:10 a.m. ET. Shortly before 11 a.m. ET the index pierced the flat line and continuing gaining ground.

The bullish development comes without any evident cause.

In economic news, the Mortgage Bankers Association reported before the start of trading that U.S. mortgage applications fell for the week ended March 7. The trade association’s index of mortgage loan application volume fell 1.9% as interest rates climbed to their highest level this year and lowered demand for home loans.

ExlService Holdings, Inc. (Nasdaq: EXLS) shares are up slightly in morning trading after the business outsourcing provider’s third-quarter revenue rose 31% to $46.6 million, above analyst estimates of $44 million and compared with $35.7 million a year earlier.

“EXL performed extremely well this quarter and established new relationships with seven clients including three in specific areas of strategic focus,” CEO Vikram Talwar said in a statement. “Our hiring in sales and marketing continues to be strong as we execute our plan for talent acquisition to facilitate long-term growth.”

The New York City-based firm’s quarter profit increased 44% to $6.2 million, or $0.21 per share, higher than Wall Street projections of $0.19 per share and compared with $4.3 million, or $0.19 per share, during the prior-year period.

As a result of strong third-quarter results, the company also raised its 2007 revenue guidance to a range of $176 million to $178 million, from a previous range of $168 million to $172 million. Wall Street analysts, on average, are expecting $172 million in revenue.

In morning trading, EXLS shares are up 5.08%, or $1.16, at $24.01. Over the last 52 weeks, shares have ranged from $15.49 to $29.24.

The Russell 2000 (NYSE: IWM) is gaining ground after opening little changed this morning as Veterans Day leaves investors with little news to analyze.

At 10:02 a.m. ET, the small-cap index had added 1.93 points, or 0.25%, to 774.31. The Dow Jones Industrial Average (INDU) was up 22.60 points, or 0.17%, to 13,065.34.

Corporate deal-making is coming into focus this morning, following an announcement by International Business Machines Corp. (NYSE: IBM) that it will buy Cognos Inc. (TSE: CSN), a Canadian maker of business intelligence software, for $5 billion.

The offer was expected, as Armonk, N.Y.-based IBM’s rivals had previously also made purchases of intelligence software companies.

Meanwhile, online broker E*Trade Financial Corp. (Nasdaq: ETFC) was downgraded by Citigroup Inc. (NYSE: C) and the possibility of bankruptcy was raised.

Here are the current biggest percentage gainers and losers among companies with a market cap between $100 million and $750 million:

Biggest percentage gainers:

• Globecomm Systems Inc. (GCOM), up 15% on news of a contract with the U.S. Army.
• Dice Holdings Inc. (DHX), up 11%.
• ChemGenex Pharmaceuticals Ltd. (CXSP), up 10%.

Biggest percentage losers:

• Alto Palermo S.A. (APSA), down 24%.
• Basin Water Inc. (BWTR), down 13%.
• ExlService Holdings Inc. (EXLS) down 9%.

Globalization of the world’s economy and the breaking down of national barriers have facilitated freer trade and more open markets, resulting in a vastly more competitive environment for goods and services across virtually every industry.
 
Over the years, there has been a significant increase in movement of one of the primary factors that fuels business: human labor. Today, businesses routinely cross national borders seeking lower operating costs (and more favorable tax rates).
 
As an example, in India, the average entry-level college graduates earn as little as one-tenth of what their U.S. counterparts make. ExlService Holdings, Inc. (Nasdaq: EXLS) employs IT experts, customer service specialists and other professionals in India to provide business process outsourcing (BPO), research and analytics, and advisory services primarily to Global 1000 companies, taking full advantage of this wage disparity. Its customers reap the benefits as well, slashing costs by as much as 50%.

American Express Company (NYSE: AXP), Dell Inc. (Nasdaq: DELL), Norwich Union/AVIVA (LSE: NU), Centrica (LSE: CNA), Fortune 50 banks and others have hired ExlService to handle their back-office operations ranging from customer service, accounting services and Web support to mortgage, loan and insurance processing. Clients in the banking, financial services, and insurance industries (BFSI) in the United States and the United Kingdom account for 75% of ExlService’s revenues.

But ExlService is far from the only firm to capitalize on the offshore outsourcing trend, as American and European companies rush to trim costs amid heightened competition and rising expenses. Direct adversaries include other India-based BPO providers, such as WNS Holdings Ltd. (NYSE: WNS) and FirstSource, with additional competition coming from several IT services firms: Infosys Technologies Ltd. (NYSE: INFY), Electronic Data Systems Corp.'s mPhasis (NYSE: EDS), General Electric Company's Genpact (NYSE: GE), Citigroup Global Services (NYSE: C) and HCL Technologies (BSE: HCLT).