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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Intuit Inc.    INTU

INTUIT INC.

(INTU)
  Report
Real-time Estimate Quote. Real-time Estimate Cboe BZX - 10/30 01:30:33 pm
315.255 USD   -3.18%
01:30pINTUIT : Square Inc. Shares Drop on WSJ Report of Possible Acquisition of Credit Karma Tax Unit
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01:16pNEWS HIGHLIGHTS : Top Company News of the Day
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11:16aNEWS HIGHLIGHTS : Top Company News of the Day
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Momentum stocks put S&P 500, Nasdaq on course for new highs

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08/26/2020 | 03:08pm EDT

(For a live blog on the U.S. stock market, click or type LIVE/ in a news window.)

* Global stocks jump to record high

* Salesforce surges, giving S&P its biggest boost

* Hurricane Laura gathers strength, oil assets shuttered

* Dow up 0.08%, S&P rises 0.84%, Nasdaq jumps 1.60%

NEW YORK, Aug 26 (Reuters) - Wall Street advanced on Wednesday as upbeat earnings kept investors focused on momentum stocks that have outperformed since the onset of the coronavirus pandemic.

The gains set the S&P and the Nasdaq on track for their latest in a string of all-time closing highs, while the Dow, which has yet to reclaim its pre-COVID record, was only modestly higher.

The MSCI world equity index surged past its February high to reach a record peak.

Salesforce.com, the cloud computing company and soon-to-be Dow component, gave the S&P its biggest boost, its shares soaring 24.8% following its beat-and-raise earnings report.

Cyclical stocks, which tend to perform well in times of economic recovery, were mostly lower.

"Markets are singing the same tune," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. "The market continues to move higher on momentum buying, and of course it's the same Nasdaq group all the time."

"There's no indication of any real shift in leadership," Cardillo added.

Energy was the biggest percentage loser among S&P 500 sectors, dropping 1.6% as Hurricane Laura bore down on the Texas-Louisiana coastline, posing the largest threat to U.S. energy assets since 2005's Hurricane Katrina. The coming storm, now expected to strengthen to category 4, prompted crude producers and refiners to shut down their facilities.

Commercial air carrier stocks lost altitude, with the S&P 1500 Airline index dipping 1.5% even after the White House announced President Trump was weighing an executive action to avoid massive layoffs in the sector.

The U.S. Federal Reserve is expected to unveil a new framework intended to soften the central bank's inflation stance, which Chairman Jerome Powell is expected to address during his remarks on Thursday as part of the Kansas City Fed's virtual Jackson Hole symposium.

The Dow Jones Industrial Average rose 23.67 points, or 0.08%, to 28,272.11, the S&P 500 gained 29.02 points, or 0.84%, to 3,472.64 and the Nasdaq Composite added 183.82 points, or 1.6%, to 11,650.29.

Communications services led the 11 major sectors in the S&P in percentage gains.

Second-quarter earnings season has wound down, with 483 of the companies in the S&P 500 having reported. Of those, 82.2% have beaten consensus, according to Refinitiv data.

In aggregate, analysts now see earnings for the April to June quarter having dropped by 29.9% year-on-year, according to Refinitiv.

Hewlett Packard Enterprise Co rose 4.1% after its full-year profit outlook beat expectations, while tax software firm Intuit Inc advanced 2.5% on a 17% rise in quarterly revenue.

Apparel retailer Nordstrom Inc tumbled 5.1% following its bigger-than-expected quarterly losses after being forced by mandated lockdowns to shutter its stores.

Declining issues outnumbered advancing ones on the NYSE by a 1.37-to-1 ratio; on Nasdaq, a 1.38-to-1 ratio favored decliners.

The S&P 500 posted 34 new 52-week highs and no new lows; the Nasdaq Composite recorded 83 new highs and 7 new lows. (Reporting by Stephen Culp; Editing by Cynthia Osterman)


Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL -1.35% 26299.74 Delayed Quote.-6.59%
HEWLETT PACKARD ENTERPRISE COMPANY 0.06% 8.5382 Delayed Quote.-46.22%
INTUIT INC. -3.03% 315.73 Delayed Quote.24.31%
LONDON BRENT OIL -0.32% 37.54 Delayed Quote.-38.33%
MSCI AC WORLD INDEX (STRD, UHD) -0.27% 571.527 Real-time Quote.1.11%
NASDAQ 100 -2.98% 11015.326827 Delayed Quote.32.82%
NASDAQ COMP. -2.76% 10879.410465 Delayed Quote.27.40%
NORDSTROM, INC -2.63% 11.895 Delayed Quote.-70.17%
S&P 500 -1.79% 3251.06 Delayed Quote.2.46%
WTI -2.53% 35.275 Delayed Quote.-36.69%
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Financials (USD)
Sales 2021 8 244 M - -
Net income 2021 1 944 M - -
Net cash 2021 5 050 M - -
P/E ratio 2021 44,2x
Yield 2021 0,73%
Capitalization 85 247 M 85 247 M -
EV / Sales 2021 9,73x
EV / Sales 2022 8,56x
Nbr of Employees 10 600
Free-Float 96,6%
Chart INTUIT INC.
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Intuit Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends INTUIT INC.
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 360,63 $
Last Close Price 325,61 $
Spread / Highest target 24,4%
Spread / Average Target 10,8%
Spread / Lowest Target -20,8%
EPS Revisions
Managers
NameTitle
Sasan K. Goodarzi President, Chief Executive Officer & Director
Brad D. Smith Executive Chairman
Michelle M. Clatterbuck Chief Financial Officer & Executive Vice President
Atticus Tysen Chief Information Officer & Senior Vice President
Marianna Tessel Chief Technology Officer & Executive VP
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