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Amazon is partnering with Intuit to integrate QuickBooks software into its Seller Central platform by mid-2025, providing third-party sellers with essential accounting tools and access to loans through QuickBooks Capital. This collaboration aims to enhance financial management for sellers, particularly smaller businesses, as they prepare for the holiday season. The integration will offer real-time insights into profitability, cash flow, and tax estimates, supporting sellers in scaling their operations efficiently.
Intuit CFO Sandeep Aujla will present at the UBS Global Technology Conference on December 3, 2024, at 9:55 a.m. PT. The session will be available live via audio webcast on Intuit’s investor relations website, with a replay accessible 24 hours post-presentation.
Stock futures dipped slightly on Thursday evening, with the Dow down 20 points and the Nasdaq 100 futures falling 0.3%. Despite this, Wall Street is on track for a positive week, led by a 1.56% gain in the Nasdaq Composite. Notable after-hours movers included Gap, which surged 15% after beating earnings estimates, while Intuit fell over 5% despite a strong quarterly report. Texas Pacific Land is set to join the S&P 500 next week as part of index changes.
Intuit shares dropped 6% in after-hours trading following a quarterly forecast that missed analysts' estimates due to delayed sales. While the company reported a 10% year-over-year revenue increase of $3.28 billion and adjusted earnings per share of $2.50, its second-quarter guidance fell short, anticipating a revenue decline in the consumer segment. For the full fiscal year, Intuit expects adjusted earnings per share between $19.16 and $19.36, with revenue growth projected at 12% to 13%.
Intuit Inc. experienced a decline in extended trading after providing a sales and profit forecast that disappointed investors. The company projected revenue of approximately $3.83 billion for the quarter ending January 31, falling short of analysts' expectations of $3.86 billion, while earnings are expected to be around $2.58 per share, also below estimates.
Stock futures remained largely unchanged as investors reacted to Nvidia's earnings report, which, despite beating expectations, saw shares drop nearly 2%. Snowflake surged over 18% after also exceeding earnings forecasts. The Dow is on track to underperform this week, while the S&P 500 and Nasdaq Composite have seen gains.
H&R Block and Intuit stocks plummeted following reports that the Trump transition team is exploring a free tax-filing app, potentially competing with existing services. Intuit"s shares fell 5%, while H&R Block dropped 8%, marking their worst days in years. The discussions come amid ongoing scrutiny of both companies for misleading marketing practices related to free filing options.
Jim Cramer highlighted key earnings reports next week from Nvidia, TJX, and Walmart, advising caution amid market uncertainties. He suggested a small position in Vertiv and recommended waiting for pullbacks before investing in Walmart and Target, while expressing optimism for Medtronic and Viking Holdings. Cramer also noted potential sell-offs for Nvidia and Palo Alto Networks post-earnings, and indicated interest in Gap and Intuit, pending market conditions.
Allstate Health Solutions has partnered with Thatch and Ambetter Health to introduce an Individual Coverage Health Reimbursement Arrangement (ICHRA), enabling employers to reimburse employees tax-free for individual health insurance premiums and eligible medical expenses. This collaboration enhances offerings for Intuit QuickBooks customers, providing access to a variety of health plans tailored to workforce needs. Thatch's platform simplifies plan selection, allowing employees to manage their healthcare budgets effectively.
A recent report reveals that 27% of Americans are engaging in "doom spending," driven by anxieties over the presidential election and economic concerns. This trend is particularly pronounced among younger generations, with 39% of millennials and 37% of Gen Zers participating. As credit card debt rises, especially among these demographics, experts warn that such spending habits could lead to long-term financial challenges.
Intuit Inc.
Companies
| Symbol | INTU |
| Name | Intuit Inc. |
| Currency | USD |
| Sector | Information Technology |
| IndustryGroup | Software & Services |
| Industry | Software |
| Market | NASDAQ Global Select |
| Country | United States |
| State | CA |
| City | Mountain View |
| Zipcode | 94043 |
| Website | http://www.intuit.com |
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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