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August 21, 2014
16:02 EDTINTUIntuit reports Q4 adjusted EPS (1c), consensus 7c
Reports Q4 revenue $714M, consensus $699.49M.
News For INTU From The Last 14 Days
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August 26, 2015
06:29 EDTINTUIntuit to lay off nearly 250 employees in SBG, TechCrunch reports
According to an internal memo from Intuit CEO Brad Smith, the company will lay off 249 employees, TechCrunch reports. The layoffs, mostly in the company's Small Business Group, have been confirmed by Intuit. Last week, Intuit announced plans to divest several of its business units, including Quicken, QuickBase and Demandforce. Reference Link
August 21, 2015
13:39 EDTINTUIntuit trades near upper-middle of intraday range
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11:24 EDTINTUIntuit plummets after Q1, FY16 outlooks trail estimates
Shares of tax preparation software provider Intuit (INTU) are sinking after the company's first quarter and fiscal 2016 outlooks significantly trailed analyst's consensus estimates. WHAT'S NEW: After the close on Thursday, Intuit reported fourth quarter adjusted earnings per share of (5c) and revenue of $696M, compared to analysts' consensus estimates of (12c) and $738.98M, respectively. In the U.S., TurboTax Online units increased 11% and total TurboTax units grew 7%, excluding the Free File Alliance, the company said. Additionally, Intuit said it reached 1.075M QuickBooks Online subscribers through the end of Q4 and increased total QuickBooks online subscribers by 57% for the year. Brad Smith, Intuit's president and Chief Executive Officer said the company closed out fiscal year 2015 "on a strong note," adding that the company's small business momentum "continues to build and our QuickBooks Online ecosystem growth is accelerating." Looking ahead, Intuit said it expects Q1 adjusted EPS of (4c)-(3c) and revenue of $660M-$680M, well below analysts' consensus estimates of of 6c and $776.36M, respectively. For FY16, the company expects adjusted EPS of $3.40-$3.45 and revenue of $4.53B-$4.6B, far short of the consensus of $3.82 and $5.04B, respectively. WHAT'S NOTABLE: In its earnings release, Intuit announced its intent to divest Demandforce, QuickBase and Quicken. The divestment will help Intuit "focus on and invest in businesses that strengthen the ecosystem and align with two strategic goals: to be the operating system behind small business success, and to do the nations' taxes in the U.S. and Canada," the company said. As a result of the decision, the company said FY16 adjusted EPS will be reduced by about 10c and revenue will be reduced by approximately $250M, as the company reports these assets as discontinued operations. Separately, Intuit raised its dividend for the first quarter by 20% to 30c per share, payable on October 19. ANALYST REACTION: First Analysis analyst James Macdonald downgraded Intuit this morning to Underweight from Equal Weight. Macdonald said Intuit's small business online ecosystem has "relatively low monetization." PRICE ACTION: In late morning trading, Intuit fell $10.80, or 10.41%, to $92.23 on more than twice its average daily trading volume. Despite today's pull back, the shares have gained approximately 5% over the past year. OTHERS TO WATCH: Other companies in the tax preparation space include Liberty Tax (TAX), up 0.16%, and H & R Block (HRB), down 1.5%.
10:02 EDTINTUHigh option volume stocks
High option volume stocks: XEO VAR AMCC XPO ROST INTU TFM BTE DXD
10:02 EDTINTUOn The Fly: Analyst Downgrade Summary
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09:13 EDTINTUOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Accuray (ARAY), up 12.7%... Brocade (BRCD), up 6%... (CRM), up 3.5%. DOWN AFTER EARNINGS: Intuit (INTU), down 6.7%... Deere (DE), down 5.4%... Nordson (NDSN), down 4.4%. ALSO LOWER: GigOptix (GIG), down 20% after 9.22M share Spot Secondary priced at $1.70... VirnetX Holding (VHC), down 19.8% after filing to sell 35M shares of common stock... Northwest Biotherapeutics (NWBO), down 8.7% after TheStreet's Adam Feuerstein reports, via Twitter, that CVax Phase 3 study has been temporarily halted in Germany.
06:09 EDTINTUIntuit downgraded to Underweight from Equal-Weight at First Analysis
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August 20, 2015
19:05 EDTINTUIntuit raises quarterly dividend 20% to 30c per share
Announced in the company's Q4 earnings release, Intuit said it has received board approval for a 30c per share dividend for fiscal Q1, payable October 19. The dividend represents a 20% increase versus last year and reflects the company's "large and growing cash position, as well as more recurring and predictable revenue streams."
19:02 EDTINTUOn The Fly: After Hours Movers
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16:08 EDTINTUIntuit to divest Demandforce, QuickBase, Quicken, sees negative impact in FY16
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16:07 EDTINTUIntuit reports Q4 QuickBooks Online subscribers 1.08M
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16:04 EDTINTUIntuit sees FY16 adjusted EPS $3.40-$3.45, consensus $3.82
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16:03 EDTINTUIntuit sees Q1 adjusted EPS (4c)-(3c), consensus 6c
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16:01 EDTINTUIntuit reports Q4 adjusted EPS (5c), consensus (12c)
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14:42 EDTINTUNotable companies reporting after market close
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August 19, 2015
10:00 EDTINTUOn The Fly: Analyst Upgrade Summary
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08:21 EDTINTUIntuit August volatility elevated into Q4 and outlook
Intuit August call option implied volatility is at 56, September is at 26 compared to its 52-week range of 16 to 42 suggesting large price movement into the expected release of Q4 results on Aug 20.
07:49 EDTINTUIntuit coverage assumed with an Equal Weight at Morgan Stanley
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07:01 EDTINTUIntuit upgraded to Buy from Hold at Deutsche Bank
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