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First Infosys, Now Cognizant. Bad News Piles Up For IT Sector
Cognizant lowered its 2016 sales guidance for the second time in a row Cognizant is expected to post slowest growth in 10 years Last month, Infosys had cut its annual sales guidance
08 Aug 2016, 02:51 PM IST 
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Cognizant lowered its annual revenue guidance for second straight quarter on Friday
IT stocks have underperformed the broader markets and are likely to come under further pressure following Cognizant's June quarter earnings announcement on Friday.
New Jersey-based Cognizant, which employs a majority of its employees in India, lowered its 2016 sales guidance for the second time in a row, citing cautious demand from clients.
Cognizant now expects its 2016 revenue to grow between 8.5 per cent and 9.5 per cent.
"This...
