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Cognizant Surges Over the Weekend to Lead Gains on Monday

By: , dated May 4th, 2015


Market Check-In

Between Friday's rally and today's hold, markets closed the day steady around 18k. Investors are looking for that to be the summer floor for trading, so days like today are a win in the long run. There was lighter than usual trading today, but all three indexes rose in spite of it. The Dow gained 46 points, the NASDAQ was up 11, and the S&P added 6.

How will Surveymonkey deal with the tragic death of their young CEO on Saturday?

Over the weekend the world lost CEO Dave Goldberg, who passed away at the age of 47 in a hotel gym. He leaves behind a wife and two children. Dave was the CEO of Surveymonkey.com, a privately-held business worth more than $1 billion.

Dave Goldberg Had an Incredible Career

Dave Goldberg's record makes him irreplaceable at Surveymonkey. When he was younger, Dave turned down a position with Bain Capital in order to work at Capital Records. During his time there, he convinced the management to release the Beatles catalog on CD. His forward-thinking business sense will be missed at Surveymonkey, all across Wall Street, and by his family.

The SALT conference kicks off tomorrow. Why are investors paying attention?

The SkybridgeAlternatives conference (SALT) is meeting Tuesday morning through the rest of the week. It's a popular conference that will be packed full of high-profile presenters and analysts. SALT has been held in Las Vegas for the past 7 years.

Cast of Characters

The featured speakers range from music mogul will.i.am to Sir Richard Branson and Ben Bernanke. The list of full speakers is enormous, stretching to more than a page full of minor celebrities, featured reporters, and industry pros. They'll all be united to present their take on alternative investing.

Leading Indicators

Since so many big names will be talking shop, investors are bound to be listening. SALT comes to a close on Friday at 1PM with a poolside after party, and until the mojitos are being served every detail from the event will be scrutinized by analysts.

Cognizant Tech (CTSH) is the day's biggest gainer.

Large-cap telecom and technology services provider Cognizant Technologies (CTSH) shot up in value over the weekend. The company is competing with businesses like Rackspace (RAX) and Akamai Holdings (AKAM), which were both up slightly. Share prices jumped because Cognizant beat their earnings expectations, but their position in the technology sector is generally profitable right now too.

Cognizant Gained 4 points in pre-market trading

It's true, most of Cognizant's great day took place over the weekend in pre-market trading. In fact, the company's share price spiked at nearly 8% gains around 10AM EST, then coasted slowly down to 4% by the end of the day. Cognizant added 3.63 points to close at $62.77 per share.

Aaron Phillips

is a financial researcher and journalist based out of Michigan. He regularly writes the IG Daily and IG Weekly columns. Just recently, he's started covering the investment news beat for IG.

Copyrighted 2015. Content published with author's permission.

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