Accenture Secures Significant Outsourcing Deal from British American Tobacco
ACN is trading near its 52-week low of $118.15 (9.8% above the low) on elevated volume (2.0× avg).
Summary
Accenture has secured new outsourcing business from British American Tobacco (BAT), which is moving approximately 3,500 roles to partners like Accenture as part of a major cost-reduction program. This win provides a positive boost for Accenture, especially following its recent Q3 report where new bookings declined and full-year revenue guidance was lowered, causing a significant stock drop. The deal helps to counter the recent negative sentiment and adds to Accenture's service portfolio.
At the time of this announcement, ACN was trading at $129.70 on NYSE in the Technology sector, with a market capitalization of approximately $78.9B. The 52-week trading range was $118.15 to $307.77. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.