Market Roundup

Shares of Infosys Ltd INFY dropped about 4.5% after the company posted around 16% rise in its Q1 consolidated net profit. INFY's net profit came in at INR17.22 billion, versus INR14.88 billion, in the year-earlier period. Its consolidated revenue surged about 21% y/y to INR74.85 billion from INR61.98 billion. Analysts were expecting a net profit of INR17.26 billion on revenue of INR74.96 billion. Infosys projects revenue for the current fiscal year to rise 18% to 20% to $7.13 billion-$7.25 billion. Esterline Technologies Corp ESL will replace Bucyrus International Inc in the S&P MidCap 400 index, and Rubicon Technology Inc RBCN will replace Esterline Technologies in the S&P MidCap 400 after the closing bell on July 12. Biomet Inc swung to a FQ4 loss on Tuesday. Biomet reported a quarterly loss of $847.3 million, versus a profit of $83.3 million, in the year-earlier period. Excluding merger-related depreciation and amortization and other special items, Biomet's adjusted earnings came in at $216.3 million. Its sales increased 1.8% to $715.2 million. On a constant currency basis, Biomet's sales dropped 1%. Thomas Cook PLC TCKGF issued projections for the fiscal third quarter. Thomas Cook projects underlying operating profit of around 20 million pounds ($32 million). The group projects underlying operating profit for the year to be about 320 million pounds, compared with 362.2 million pounds, in the year-earlier period.