Our summary of important earnings reports released this morning. Cognizant Technology Solutions Corp. (NASDAQ:CTSH) increased its net profit for the quarter by 17% year on year but dampened its outlook for the rest of 2012. The company announced earnings per share of 79 cents on revenue of $1.71 billion. The company earned 67 cents per share in the first quarter of 2011. Analysts were expecting earnings of 83 cents per share and with additional costs, like stock compensation, removed the firm beat that resoundingly with 86 cents per share. The market was anything but pleased with the outlook for the year…
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