IT defense contractor names underperformed after Accenture said it expects US federal spending cuts on consultants to slow its growth next year.
- Accenture had previously cautioned that President Trump’s push to cut government spending on consultancy firms would hinder its growth; shares were down ~30% in the past year ahead of Thursday’s earnings; read more:
Accenture Sees Slower Growth on US Federal Consultancy Cuts - Accenture stock was down as much as 2.2% on Thursday
- Separately, an OMB memo directs agencies to plan to
permanently lay off federal workers in programs that do not align with Trump’s priorities if the deadline ...