Financial Management and Planning

Software Development has assumed extreme significance in the light of the global demand for new IT solutions and IT-enabled services. Appropriate software development gives the right amount of impetus to the functioning of the web sites and the quality of services they render. This in itself is a daunting task, requiring thousands of skilled professionals to put in hours of research, experimentation, testing and trials.Skilled manpower, technology and infrastructure are essential, apart from the demand from the IT industry. It is here that offshore outsourcing plays a major role. The developed companies making rapid strides in the field of information technology have always been finding it difficult to find the right amount of manpower needed. On the other hand, developing countries, especially Asian countries like India and China, have been following an IT policy that has resulted in the generation of enormously skilled manpower and a really well developed IT infrastructure. This has led to a real boom outsourcing with the destination being India.

India, by choice rather than by destiny, has become the ideal zone for offshore software development. The early 1990’s saw the rapid opening of India’s economy to the world, focusing on being market-oriented. This major tilt in the Indian economic policy, saw the rapid inflow of foreign direct investment and foreign business interest to India. The availability of highly skilled and talented software programmers and well developed IT infrastructure attracted the companies from developed countries to India, like moth to the flame.India boasted of the highest number of CMM Level 5 certified companies and the presence of several Indian IT companies listed on the NYSE and NASDAQ which in turn attracted a large number of Fortune 500 companies that outsource their software needs to India.

With the offshore outsourcing business to India touching new highs, Indian outsourcing partners are growing in confidence and moving up the ladder to offer more and more complex and specialized services. Moving away from the bits and pieces outsourcing, Indian companies have today specialised in developing complete softwares and development packages for global clients. The software development process has several stages like need analysis, defining requirements, establishing a software specification, designing the software with great application and dedication, writing the software, coding it and successfully testing it.

Through years of successful offshore outsourcing, Indian companies have behind them rich experience in not only documenting software but providing support thought out. Indian software companies are constantly improving their development standards by enhancing their skilled manpower base and their development facilities. These Indian companies have today progressed into customized solutions development.The high quality of the solutions outsourced from India as well as popularity of custom software development involving emergence of creative and innovative solutions,have made companies from developed countries look to India as a viable ,dependable outsourcing destination.

The strongest factor in favor of outsourcing to India , is the fact that the Indian Government is strongly committed to IT development with IT being one of the top five priorities of the government. This unequivocal stance on the part of the government , has instilled confidence into the minds of the overseas companies who flock in droves for offshore outsourcing to India. The Software Technology Parks of India offer world-class infrastructure and various incentives and concessions to encourage foreign investment and promote software development in India. The fact that India has a stable government with a stable democratic process and a peace-loving population has made it one of the world’s ten fastest growing economies. The timely privatization of the infrastructure segment has led to creation of convergence , a major focal point of IT development today, by integrating the ISP, Telecom, VSAT, Cellular and networking sectors. India’s large business houses and public sector undertakings are working towards creating greater bandwidth availability.

Outsourcing has progressed from the rudimentary specific application development to the whole gamut of designing and developing the entire requirements of custom software needs and is spreading to new uncharted territories. The new areas include E governance, Healthcare, Pharmaceuticals, financial services, transcription services and retail services. The fast disappearing geographical boundaries and the convergence of the world towards IT enablement, has made India’s role as the leading offshore outsourcing services provider with special emphasis on software development, is undisputed . With a superabundance all positive factors and conducive climate, it is not really surprising that most of the leading technology giants of the world like Microsoft, Sun, Oracle, SAP, IBM , Dell, Apple-Macintosh and many more, have opened full-fledged offices in India, looking to take advantage of the excellent software development services provided by Indian outsourcing and BPO giants like Infosys, Wipro, Satyam and so many more companies.

The future outlook for outsourcing from India, is certainly bright. Having established its’ credentials beyond any doubt, India is poised for growth on all frontiers, be it quality solutions, quality infrastructure or quality manpower. Backed by such strong fundamentals like quality assurance and timely deliveries, India has emerged as the number one destination for software development outsourcing, outpacing China and other fast-growing Asian countries.

Daily Market Commentary for March 26, 2009

Treasury Secretary Geithner testified in front of the House Financial Services Committee again today reporting that the nation needs stronger regulatory oversight of the financial services industry. (read more at Millennium-Traders.Com)

http://www.millennium-traders.com/news/newscommentary.aspx

Economic data released today:

GDP:

U.S. 4Q GDP revised to a drop by 6.3% rate from drop by 6.2%; U.S. 4Q GDP Consensus fell 6.6%; U.S. 4Q Real Final Sales revised to a drop by 6.2% rate from a drop by 6.4%: U.S. 4Q PCE Price Index revised to a drop by 4.9% rate from a drop by 5.0%; U.S. 4Q Purchases Price Index revised to a drop by 3.9% rate from a drop by 4.1%; U.S. 4Q Chain-Weighted Price Index rose 0.5% unrevised from preliminary reading.

Jobless Claims:

U.S. Jobless Claims for week of March 21 rose 8K to 652K compared to survey of an increase by 9K; U.S. Continuing Claims for week of March 14 rose 122K to 5,560,000; U.S. Jobless Claims Revised for week of March 14 to 644K from 646K; U.S. Continuing Claims hit fresh record high.

Corporate Profits:

4Q Corporate Profits fell 28.4% versus drop by 3.2% in 3Q.

At the NYSE closing bell on the New York Stock Exchange, here is how the major world indices and major U.S. stock indices ended the trading session on the world markets as well as the emerging markets including the stock market closing bell price:

DOW (Dow Jones Industrial Average) triple digit gain of 174.75 points to end the trading session at 7,924.56

NYSE (New York Stock Exchange) triple digit gain of 103.53 points to end the trading session at 5,230.53

National Association of Securities Dealers Automated Quotations (NASDAQ) gain of 58.05 points to end the trading session at 1,587

S&P 500 (SPX) gain of 18.98 points to end the trading session at 832.86

BEL 20 (BEL20) gain of 26.20 points to end the trading session at 1,783.16

CAC 40 (CAC40) loss of 1.38 points to end the trading session at 2,892.07

FTSE100 (UKX100) gain of 24.95 points to end the trading session at 3,925.20

NIKKEI 225 (NIK/O) triple digit gain of 156.34 points to end the trading session at 8,636.33

New York Stock Exchange (NYSE) stock market indicators for the trading session today:

Advanced stock prices 2,256, declined stock prices 443, unchanged stock prices 478, stock prices hitting new highs 11 and stock prices hitting new lows 4. NYSE quotes for volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the New York Stock Exchange stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: Best Buy Company (NYSE: BBY) stock price gained 4.21 points on the trading session, high on the trading session $39.25, low on the trading session $36.79, with a closing stock price at $37.67; GameStop (NYSE: GME) stock price shed 0.63 points on the trading session, high on the trading session $28.45, low on the trading session $25.79, with a closing stock price at $26.21; Denbury Resources (NYSE: DNR) stock price gained 0.02 points on the trading session, high on the trading session $17.52, low on the trading session $15.98, with a closing stock price at $16.25; Raytheon Company (NYSE: RTN) stock price gained 2.87 points on the trading session, high on the trading session $40.16, low on the trading session $38.20, with a closing stock price at $40.10; Red Hat (NYSE: RHT) stock price gained 2.00 points on the trading session, high on the trading session $17.80, low on the trading session $16.40, with a closing stock price at $17.60; Conagra Foods (NYSE: CAG) stock price added 1.43 points on the trading session, high on the trading session $17.06, low on the trading session $15.91, with a closing stock price at $16.99; Nucor (NYSE: NUE) stock price gained 2.01 points on the trading session, high on the trading session $41.45, low on the trading session $39.78, with a closing stock price at $41.09; Boston Properties (NYSE: BXP) stock price gained 0.78 points on the trading session, high on the trading session $38.48, low on the trading session $34.80, with a closing stock price at $37.56; Union Pacific (NYSE: UNP) stock price gained 3.53 points on the trading session, high on the trading session $44.63, low on the trading session $41.01, with a closing stock price at $44.48; ProShares Ultrashort Real Estate (NYSE: SRS) stock price shed 3.10 points on the trading session, high on the trading session $57.50, low on the trading session $50.00, with a closing stock price at $50.38; Devon Energy (NYSE: DVN) stock price shed 1.03 points on the trading session, high on the trading session $51.30, low on the trading session $47.54, with a closing stock price at $48.42; ProShares Ultrashort Financials (NYSE: SKF) stock price shed 2.79 points on the trading session, high on the trading session $97.24, low on the trading session $89.27, with a closing stock price at $90.36; CME Group (NYSE: CME) stock price gained 6.08 points on the trading session, high on the trading session $258.00, low on the trading session $247.40, with a closing stock price at $255.35; Rio Tinto plc (NYSE: RTP) stock price gained 10.73 points on the trading session, high on the trading session $139.86, low on the trading session $134.71, with a closing stock price at $139.22.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:

Advanced stock prices 2,265, declined stock prices 535, unchanged stock prices 120, stock prices hitting new highs 24 and stock prices hitting new lows 16. NASDAQ quotes, volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the NASDAQ stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: Citi Trends (NasdaqGS: CTRN) stock price gained 4.50 points on the trading session, high on the trading session $22.85, low on the trading session $18.82, with a closing stock price at $20.38; First Solar (NasdaqGS: FSLR) stock price gained 16.01 points on the trading session, high on the trading session $158.49, low on the trading session $135.65, with a closing stock price at $150.00; Baidu.com (NasdaqGS: BIDU) stock price gained 2.70 points on the trading session, high on the trading session $192.26, low on the trading session $185.10, with a closing stock price at $186.50.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:

Advanced stock prices 358, declined stock prices 163, unchanged stock prices 106, stock prices hitting new highs 3 and stock prices hitting new lows 9.

Chicago Board of Trade Futures Market for the day, at time of this posting:

E-mini S&P 500 (ES) June 09: End of trading session price 827.25; Change for the trading session 19

E-mini NASDAQ-100 (NQ) June 09: End of trading session price 1,273.50; Change for the trading session 40

E-mini DOW $5 (YM) June 09: End of trading session price 7,846; Change for the trading session 166

E-mini S&P MidCap 400 (MF) June 09: End of trading session price 509.40; Change for the trading session 20.80

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:

Euro 0.7404 to U.S. Dollars 1.3506

Japanese Yen 98.78 to U.S. Dollars 0.0101

British Pound 0.6930 to U.S. Dollars 1.4431

Canadian Dollar 1.2289 to U.S. Dollars 0.8137

Swiss Franc 1.1283 to U.S. Dollars 0.8863

COMMODITY MARKETS:

Energy Sector – Nymex:

Light Crude (May 09) gained $1.57 on the trading session for a closing price of $54.34 per barrel ($US per barrel)

Heating Oil (May 09) gained $0.01 on the trading session for a closing price of $1
.49 a gallon ($US per gallon)

Natural Gas (May 09) shed $0.38 on the trading session for a closing price of $4.03 per million BTU ($US per mmbtu.)

Unleaded Gas (April 09) gained $0.04 on the trading session for a closing price of $1.53 a gallon ($US per gallon)

Metals Markets – Comex:

Gold (April 09) gained $4.20 on the trading session for a closing price of $942.20 ($US per Troy ounce)

Silver (May 09) gained $0.18 on the trading session for a closing price of $13.62 ($US per Troy ounce)

Platinum (July 09) gained $26.90 on the trading session for a closing price of $1,155 ($US per Troy ounce)

Copper (May 09) gained $0.05 on the trading session for a closing price of $1.86 ($US per pound)

Livestock and Meat Markets – Chicago Mercantile Exchange (cents per lb.):

Lean Hogs (June 09) shed 0.95 on the trading session for a closing price of 71.78

Pork Bellies (May 09) shed 3.00 on the trading session for a closing price of 85.00

Live Cattle (June 09) shed 0.63 on the trading session for a closing price of 81.85

Feeder Cattle (May 09) shed 0.43 on the trading session for a closing price of 94.95

Other Commodities – Chicago Board of Trade (cents per bushel):

Corn (May 09) gained 5.00 on the trading session for a closing price of 390.75

Soybeans (May 09) shed 16.00 on the trading session for a closing price of 944.00

BOND MARKET:

2 year Bond Closing price 99 30/32, change 3/32, Yield 0.90, Yield change -0.01

5 year Bond closing price of 99 25/32, change -16/32, Yield 1.79, Yield change -0.02

10 year Bond closing price 100 2/32, change 14/32, Yield 2.74, Yield change -0.05

30 year Bond closing price 97 8/32, change 1 19/32, Yield 3.65, Yield change -0.09

Thanks for reading

Millennium-Traders.Com

http://www.millennium-traders.com

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