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Canada Business News and Press Releases
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(EMAILWIRE.COM, October 27, 2009 ) Windsor, Ontario – Thepennystockpicks.com is an online financial publication, provides investors timely penny stock market alerts. If you are interested in penny stocks that are poised to breakout sign up for our free penny stock newsletter. Each day we send out alerts on different hot penny stocks. For more FREE ALERTS SIGN UP AT http://www.thepennystockpicks.com
Patni Computer Systems (PTI), a leading global IT and BPO services provider, announced last Thursday a new solution to complete the lifecycle management of financial data for diversified, global financial institutions. The Overnight Global Reconciliation Factory (GRF), offered in conjunction with PatniÂ’s Operational Fund Accounting Services (OFA) and Financial Control and Reporting Program (FRP) as a suite of solutions, will alleviate the daunting back office reporting requirements that challenge asset management firms. The solutions, available as a package or individually, enable financial institutions to cut costs and manage fixed expenses, while maintaining a focus on continued growth.
“Regulatory demands and market conditions have complicated the business of financial institutions to the point where the execution and management of daily business operations has become more challenging and expensive”, said Fred Cohen, Global Head of Patni’s Asset Management Practice. “We can help asset management firms reduce costs and focus on core areas by managing their back office functions. Our technology and industry expertise is extensive and our programs flexible, ensuring that a firm’s back office operations are being completed accurately, efficiently and on-time. There’s no reason to be burdened by expanding back office functions.”
In the last trading session, the stock closed at $19.03. The company traded as high as $19.93 in light trading volume.
RadioShack Corp. (RSH) posted a sharp drop in third-quarter profit on declines in several key product categories, but still managed to boost its margins and meet Wall Street expectations, pushing its shares up 15% Monday.
RadioShack earned $37.4 million, or 30 cents a share, down from $49.1 million or 38 cents a share in the same quarter of 2008.
Quarterly revenue came in at $990 million, down from the prior year's $1.02 billion, as same-store sales -- those at outlets open at least a year -- decreased 2.9%.
The average estimate of analysts polled by FactSet Research had been for the company to earn 30 cents a share on revenue of $976 million.
In the last trading session, the stock closed at $15.66. The company traded as high as $18.24 on well above the average trading volume.
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