Syntel Inc. (SYNT) reported fourth quarter net income of $1.05 per share Thursday morning, compared to $0.71 per share in the previous year. The consensus estimate was for EPS of $0.83. Full year 2012 EPS is expected to be between $3.10 and $3.35, compared to the consensus estimate of $3.31.
Syntel gapped open higher Thursday and climbed during the first half hour of trade. The stock extended its gains in the final 2 hours of the afternoon and closed up by 9.81 at $55.25, with volume at a 4 1/2 month high. Syntel surged to over a 6-month high and re-crossed both its 50 and 200-day moving averages.
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