Computer Sciences (NYSE:CSC) said its fiscal first-quarter profit rose to $143 million, or 91 cents a share, from $131 million, or 85 cents a share, in the year-ago period. Revenues for the information-technology provider edged up to $3.94 billion from $3.9 billion. Analysts polled were looking for earnings of 90 cents a share, on average, with sales of $4.1 billion. For the full fiscal year, CSC forecast earnings in the range of $5.30 to $5.40 a share, versus the Wall Street consensus of $5.32 a share. Shares of CSC were indicated lower in early trading Wednesday after closing at $46.44 the previous day. –MarketWatch
Google (NASDAQ:GOOG) Chief Executive Officer Eric Schmidt has doubled the anticipated pace of acquisitions this year and expects to maintain that rate after some internal projects have failed to spur growth. “The opportunities are there,” Schmidt said in an interview from the company’s Mountain View, California, headquarters this week. “We can afford it. We’re in a mode of investment for the long term.” Google, the search engine with almost two-thirds of the U.S. market, is making acquisitions every couple of weeks — more than the once-a-month pace Schmidt projected when it began buying companies again last year after the recession. Its latest deal was last week’s purchase of Slide Inc., which makes games for social networks. –Bloomberg
The dollar fell to a 15-year low against the yen after U.S. Treasury yields declined in the wake of measures announced by the Federal Reserve to keep its portfolio of securities from shrinking. The dollar dropped as far as 84.72 yen, its bottom level since July 1995. –The Wall Street Journal
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