EDS Outlook Falls Short Due to Investment
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Electronic Data Systems Corp.  on Monday posted a higher-than-expected profit thanks to cost cutting, but it forecast 2005 earnings would fall short of analysts' estimates as it hopes to bring back growth by investing &#36;1 billion in key areas this year.
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InfoWorld - Mixed economic news and forecasts of weak IT spending for at least the beginning of next year caused IT investor confidence to waver this week, though upbeat analyst presentations from Cisco and AT&T and online e-commerce figures brought some cheer to the holiday season.
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It&#39;s the second time in a week the IT services giant postponed the release of quarterly results. EDS doesn&#39;t know when it can make the numbers public.
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It offers impressive cash flow but may not have enough opportunities to reinvest it in the business.
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EDS, which initially delayed its earnings release on 25 October, said the latest delay comes because it and auditor KPMG need time to finish assessing &quot;the timing and amount of the (charge)&quot;.
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The latest acquisition shows promise, but it will take time to see results.
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The enterprise software company is starting to see the payback from some key investments.
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The stock looks reasonably valued but some core businesses are struggling to grow.
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Investor's Business Daily - That&#39;s a little softer than the prior reading of 4% and estimates for a 3.9% annual rate. But it&#39;s still the best in a year. Net exports were a little weaker than prior estimates said. Still, trade and business investment offset another sharp drop in home building as well as sluggish consumer spending. Most economists expect slower 2nd-half growth as a credit crunch takes its toll on housing and other sectors.
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A slowing economy weighs on the employment software company.
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The maker of corporate data storage equipment forecast better-than-expected 2008 revenue, but its shares fell after the VMware unit missed growth estimates.
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Electronic Data Systems Corp. , the world's second-largest technology services provider, on Monday posted a higher-than-expected quarterly profit thanks to cost cutting, but revenue fell and it forecast 2005 earnings would fall short of Wall Street estimates.
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EDS is likely to be affected by the financial difficulties facing the US Airways Group, which filed for bankruptcy protection this week.
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Today's dividend yields may not be as important as tomorrow's.
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The office equipment maker cited cost controls and growth in equipment financing and services, though its outlook for the first quarter was partly below Wall Street expectations.
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Forrester Research has revised projections for IT investment in 2008 down from previous research published in October, predicting the year ahead will be a slow one both in the U.S. and globally.In the report, &quot;U.S. And Global IT Spending And Purchases In 2008: Will The Grinch Of A Slowing US Economy Steal The Presents Of A Stronger 2008 IT Market?&quot; Forrester said it expects U.S. IT investment growth to slow slightly to 4.8 percent in 2008 from 5.3 percent in 2007. Previously, the research firm had predicted U.S. IT spending growth would be about 8 percent in 2008, led by software and network equipment.The areas hardest hit by the downturn will be computer and communications equipment and IT services, the latter being typically the first to get hit, said principal analyst Andrew Bartels. &quot;The first things CIOs cut are consultants and contractors,&quot; he said. &quot;They are readily delayable and cancellable items in the portfolio of spending.&quot;Despite this outlook, there is some good news for next year&#39;s U.S. IT market. According to Bartels, the slowdown in 2008 will happen mainly from the first quarter to the third quarter with growth in the fourth quarter of the year that will continue into 2009.In its year-end report, Forrester defines IT investment as spending in computer equipment, communications equipment and software. It adds spending in two other segments -- IT services and outsourcing and IT staff salary and benefits -- for its definition of IT spending.CIOs in the U.S. should plan conservative budgets because of the possibility that the economy will go into recession, Bartels said.However, there are technologies on the horizon that CIOs should prepare to implement in 2009, so they have the difficult task in 2008 of juggling conservatism and an eye to the future, Bartels said. Those emerging technologies include unified communications infrastructure and dynamic business applications. If they can, CIOs will increase spending and investments toward the end of 2008 and in 2009 to prepare for these technologies, he said.&quot;It&#39;s important CIOs ... don&#39;t get so cautious they&#39;re not ready for the next wave,&quot; Bartels said.Global IT purchases also are expected to slow slightly in 2008, from 12 percent in 2007 to 9 percent in 2008, but the U.S. market is expected to perform competitively despite the slowdown. The Asia-Pacific region, as it was in 2007, will remain an outstanding market in 2008, a year in which it may approach the U.S. in terms of size, Bartels said.&quot;Asia-Pacific is starting to become a factor in the market,&quot; he said. &quot;A year from now, we&#39;ll be able to say it&#39;s a stone&#39;s throw from the size of the U.S. market and may well pass it in 2009.&quot;In 2007, Asia-Pacific surpassed Europe in market size in terms of IT purchases, and that measure is expected to grow in Asia-Pacific by 15 percent in 2008, according to Forrester. IT purchases in the U.S., Canada, Latin America, and Europe will grow 5 percent to 7 percent next year, while in the Eastern Europe/Middle East/Africa region, purchases are expected to grow the same rate as in Asia-Pacific.The strength of Asia-Pacific is good news for U.S. technology vendors, as they&#39;ve &quot;been able to overcome a sluggish technology economy in U.S. with the Asian market,&quot; Bartels said.
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MIAMI - Electronic Data Systems Corp. (EDS) offered voluntary early retirement options to about 9,200, or 17 percent, of its U.S. employees, as part of its ongoing efforts to reduce costs, the company said Tuesday.