Why Is DXC Technology Stock Tumbling Friday?
Portfolio Pulse from Dylan Berman
DXC Technology (NYSE:DXC) shares are down 16.5% after reporting Q4 earnings that beat estimates but issuing weak guidance for Q1 and FY 2025. Analysts have lowered their price targets. DXC also announced a partnership with Ferrovial and Microsoft to create a new AI platform.
May 17, 2024 | 5:41 pm
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DXC Technology shares fell 16.5% after reporting Q4 earnings that beat estimates but issuing weak guidance for Q1 and FY 2025. Analysts have lowered their price targets.
Despite beating Q4 earnings estimates, DXC's weak guidance for Q1 and FY 2025 has led to a significant drop in share price. Multiple analysts have also lowered their price targets, indicating a negative short-term outlook.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Microsoft is partnering with DXC Technology and Ferrovial to create a new generative AI platform aimed at improving business operations.
The partnership with DXC and Ferrovial to create a new AI platform could positively impact Microsoft's business operations and market perception in the AI space.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50