Baird says that the firm’s IT Services/BPO stocks – Accenture (ACN), Cognizant (CTSH), Genpact (G) and ExlService (EXLS) – are weak today, which appears mostly due to Anthropic’s recent release of new plug-ins. Gartner’s (IT) weak earnings release may be causing a little consternation as well. Baird is particularly puzzled on Accenture’s down 7% move given they have the most broad-based service offerings and less exposure to any one product. The firm likes Accenture a lot on this pullback, and expects Cognizant’s results tomorrow to provide some relief.
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