INTU - Intuit Inc.
310.60 +2.67 (0.87%)
Before hours: 8:15AM EDT
| Previous close | 309.65 |
| Open | 309.18 |
| Bid | 303.31 x 800 |
| Ask | 0.00 x 900 |
| Day's range | 307.19 - 314.73 |
| 52-week range | 187.68 - 314.73 |
| Volume | 1,095,207 |
| Avg. volume | 1,265,979 |
| Market cap | 80.299B |
| Beta (5Y monthly) | 1.04 |
| PE ratio (TTM) | 60.74 |
| EPS (TTM) | 5.07 |
| Earnings date | 20 Aug 2020 - 24 Aug 2020 |
| Forward dividend & yield | 2.12 (0.69%) |
| Ex-dividend date | 09 Jul 2020 |
| 1y target est | 303.81 |
- Zacks
Intuit (INTU) Prices Senior Notes Offerings Worth $2 Billion
Intuit (INTU) is borrowing $2 billion through the issuance of senior notes to enhance financial flexibility.
- Business Wire
Intuit Announces Pricing of Senior Notes Offering
Intuit Inc. (Nasdaq: INTU), maker of TurboTax, QuickBooks and Mint, announced today that it has priced its offering of $2.0 billion aggregate principal amount of senior notes, consisting of $500.0 million aggregate principal amount of 0.650% notes due 2023, $500.0 million aggregate principal amount of 0.950% notes due 2025, $500.0 million aggregate principal amount of 1.350% notes due 2027 and $500.0 million aggregate principal amount of 1.650% notes due 2030. The offering is expected to close June 29, 2020, subject to the satisfaction of customary closing conditions.
- Zacks
Intuit Cuts 715 Jobs to Focus on AI-Based Business Model
Intuit (INTU) continues to accelerate the application of AI into its system to automate repetitive tasks, making several job roles redundant.
- Zacks
Why Is Intuit (INTU) Down 1.3% Since Last Earnings Report?
Intuit (INTU) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
- Stockopedia
Can Intuit Inc ride out the Covid-19 economic shock?
Economic shockwaves caused by Covid-19 have plunged stock markets into turmoil, but some shares are better able to absorb this volatility than others - and Int...
- Zacks
New Strong Sell Stocks for June 9th
Here are 5 stocks added to the Zacks Rank 5 (Strong Sell) List today
- Motley Fool
Intuit Is the Apple of Accounting Software Companies
Intuit (NASDAQ: INTU) has built an ecosystem in the accounting industry that some might compare to Apple's (NASDAQ: AAPL) business. Intuit established its reputation in the 1990s by defeating Microsoft in the race to become the standard for financial software. Millions of individuals turn to Intuit's Mint to manage personal finances while using its TurboTax software to file federal and state income taxes every year.
- Bloomberg
Inside Microsoft’s Mission to Go Carbon Negative
(Bloomberg) -- Over the past four years, Lucas Joppa, Microsoft Corp.’s 37-year-old chief environmental officer, has dislocated and broken one shoulder, separated the other one, broken his right wrist, and also broken his left thumb. In early May he was pretty sure his right thumb was broken, but his hand surgeon said it was a torn ligament. It’s not that he’s clumsy or reckless—he calculates that, given the amount of time he spends on a bike or skis, his “error rate” is about 0.08%—it’s just that he has a tendency not to look before he jumps.It’s this tolerance for risk—and falling—that makes him well-suited for the unprecedented task that lies ahead. In January, Microsoft pledged to be carbon negative (removing more carbon from the atmosphere than it emits) by 2030 and to spend $1 billion on a climate investment fund, much of it aimed at bolstering carbon-removal tech, a nascent field with lots of big ideas but only a handful of companies that are trying it. It was a statement of intent more than a concrete plan. Right now none of this is possible. Joppa and his colleagues are all too aware they can’t wait to act until everything is certain. The fund plans to announce its first investment later this year.“I jump a lot, and sometimes I fall. It’s going to happen. You have to be willing to accept the risk,” Joppa says. The trick, he adds, is skipping the jumps that could kill him if they go wrong. “I’m bringing that approach to everything.”To avert climate disaster, the United Nations Intergovernmental Panel on Climate Change (IPCC) projects overall global warming must be kept below 1.5C. It’s already at 1.16C. Even the previously unimaginable scenario we’re now living through—worldwide lockdowns to stop the Covid-19 pandemic—isn’t lowering the concentration of carbon dioxide in the atmosphere. Global warming hasn’t slowed, and Joppa and a lot of others say it probably won’t without the rapid adoption of carbon- sucking technology that barely exists.On a Thursday morning in April, Joppa logs on to his computer to address a videoconference of 16 people who will help determine how and whether Microsoft can meet one of the most ambitious carbon-reduction goals set by any company.“We’ve got a lot to do, not a lot of time to do it,” he tells the group.On the call are co-workers from his sustainability group, finance and business development officials who will consider investment opportunities, and experts in running Microsoft’s energy-guzzling global network of data centers. They’re joined by executives and climate scientists with Carbon Direct, a consulting company that will help Microsoft develop a 10-year plan for getting to carbon negative.Elizabeth Willmott, Microsoft’s carbon expert, lays out the company’s requirements to offset its emissions: It wants to buy access to a menu of carbon-removal techniques that include planting kelp forests and machines that draw carbon from the air and store it underground. It’s looking for options that are lasting and verifiable. Oh, and Joppa wants to do this on the cheap, paying companies $20 a ton, a fraction of what many of the options currently cost. It’s not because Microsoft doesn’t have the money for pricier options. Rather, one of its key goals is to force the innovation that enables prices to drop to a level others—without Microsoft’s $137.6 billion cash pile—can afford.“I often refer to our climate innovation fund as the self-awareness fund. We could just pay for this, but if you just use money to solve your problems, that represents an extreme lack of self-awareness to everybody else’s ability to do this,” Joppa tells the others on the call.Microsoft’s approach has won praise from climate scientists for its ambition. But the company also counts some of the worst emitters—oil and gas giants such as Chevron Corp. and Exxon Mobil Corp.—among its customers, selling them software and gear they use to increase oil and gas extractions. A May 19 Greenpeace report called out Microsoft and Amazon.com Inc. for “connections to some of the world’s dirtiest oil companies for the explicit purpose of getting more oil and gas out of the ground and onto the market faster and cheaper.”Microsoft is attempting to counter this incongruity with unproven removal ideas, says Nives Dolsak, a professor of sustainability science at the University of Washington. “Their strategy is, ‘We are banking on uncertain technology that will reduce carbon from the air, and if that works out, that allows us to put certain future additional carbon into the air,’ ” she says.Joppa has heard this criticism before. It’s the biggest complaint Microsoft gets on its climate strategy. Oil and gas companies need to be part of the climate and energy solution, he says. It doesn’t make sense to cut ties.As the company leaps headlong into its plan, among the many risks it must consider are the early and unproven technology and its high prices, Joppa says, as well as the rapid pace of climate change and the small window to arrest it. “We have got to go out and make some bets on technologies that don’t exist, on technologies that are too expensive, and on markets that aren’t mature enough,” he says. “They will never be cheap enough, they will never be scaled high enough, and they will never be mature enough unless a Microsoft comes in right now and starts pushing.”Joppa grew up in rural Wisconsin and met his wife, Jamie, in second grade. School bored him until he took a college course called Extinction of Species and then threw himself into studying ecology. After a Peace Corps stint in Malawi and a doctorate he earned in three years, he began work at Microsoft’s research arm, much to the horror of some colleagues. One professor told him, “Lucas, you could have been somebody!”During almost 11 years at Microsoft, Joppa has worked to apply computing power to the Earth’s challenges. He came up with AI for Earth in 2016, a program that grants software to companies working on environmental projects. When the company’s sustainability work became a part of Microsoft’s legal department and Joppa moved with it, his nature-themed tattoos peeking out of a T-shirt stood out among a sea of khaki and button-downs. But when Microsoft decided to name its first chief environmental officer in 2018, Joppa’s scientific background and ability to work with employees from various disciplines made him the obvious choice, says Microsoft President Brad Smith.Since 2012 the company has taxed its own business units for the carbon they emit and put the proceeds into buying carbon credits and running sustainability programs, making it one of the earlier companies to take such a step. Last spring it doubled its internal carbon tax and said it would lobby for national carbon-pricing policies.But customers kept asking Microsoft to do more, and employees were also pushing. In September rival Amazon pledged to be carbon neutral by 2040, and Microsoft felt pressure to step up its own commitment, Smith says. At a meeting in November, Joppa used dire projections from the IPCC as a way to create urgency for Microsoft Chief Executive Officer Satya Nadella and his executive team. The world can emit only 420 more gigatons of CO2 to have a 66% chance of avoiding catastrophic warming, Joppa explained, and at the current rate that’s only a decade away.He returned with instructions to come up with a bold proposal. Along with the finance department, the team worked frenetically over the holidays on the math behind going carbon negative. “It was one thing to have the goal. It was another thing to know whether we could achieve it,” Smith says. Chief Financial Officer Amy Hood committed $1 billion for an idea she’d had: the climate investment fund.Microsoft opted for an unprecedented pledge to clean up all direct and electrical emissions since its 1975 founding by 2050. Its promise to become carbon negative by 2030 includes not only direct emissions from its buildings, data centers, and fleet of campus vehicles, but also something called Scope 3 emissions. These are more indirect, harder to calculate, and far larger. It means taking responsibility for the energy that gamers use when they play Xbox video games, for example. Microsoft doesn’t count oil and gas customers’ use of its software for drilling and exploration in Scope 3.The staff who handle Microsoft’s purchases from suppliers are working on standards for those companies to measure what they emit and planning to add incentives to spur them to do better. Microsoft also plans to work with customers on how they can be greener, which includes helping oil and gas customers with clean energy programs, Joppa says.In the past couple of years, more than 40 tech companies have set targets for limiting emissions, but Microsoft’s plans to be carbon negative by 2030 and wipe out historical emissions are the most aggressive. There are only a handful of businesses that have said they’ll be carbon negative within 10 years, including furniture maker Ikea and tax software provider Intuit Inc. Panasonic Corp. says it will be carbon negative by 2050. Payments startup Stripe Inc. has begun spending $1 million a year funding negative-emissions projects.Microsoft’s investment fund is also unusual, but its goals are similar to those of a fund led by co-founder Bill Gates, who remains an adviser to the company and has met with Joppa and other Microsoft executives to share ideas. Gates is chairman of Breakthrough Energy Ventures, a $1 billion fund with investors such as Amazon founder Jeff Bezos, Virgin Group boss Richard Branson, and Michael Bloomberg, founder and majority owner of Bloomberg LP, which owns Bloomberg Green. There are ongoing conversations between Microsoft and the fund about possible partnerships on investments, says Jonah Goldman, managing director at Gates Ventures, a private investment office for Gates. Both entities share an understanding that carbon removal is a different type of investment, and it’s important to have companies like Microsoft backing technology that isn’t an obvious short-term moneymaker.After an event in January to announce their big plans, Joppa and his team celebrated with a carbon-themed playlist featuring Billy Joel’s We Didn’t Start the Fire and Heat Wave by Martha Reeves and the Vandellas, then got to work figuring out how to make the promises a reality.Joppa has been reading a book on the Apollo mission to put a man on the moon, and he told his wife how jealous it made him. “They had this pure thing that brought business and science and research and engineering all together, and you could just focus on it obsessively,” he says. Jamie answered: “What are you talking about? That’s what you have to do.”On the banks of Howe Sound in British Columbia, a fan the size of a delivery truck slurps carbon out of the atmosphere. It’s part of a factory run by a company called Carbon Engineering, and it’s considered one of the most promising in the field of “direct air capture,” the segment of the carbon-capture industry that sounds the most like science fiction. Gates was an early investor in the company. Basically fans, or “injectors,” connect the air with chemicals that bond with the carbon and remove it. Right now it’s highly inefficient and expensive, with prices anywhere from $250 to $1,000 a ton. Microsoft is banking on the price going down and volume going up.Another direct-air-capture startup, Climeworks AG, has its massive fans set up in Zurich, where the captured CO2 is used to grow plants in a greenhouse. Climeworks operates three plants, but they’re only removing hundreds of tons in a year. The industry is young. In fact, the three leading companies together can’t pull 1 million tons of carbon out of the air a year, while data centers of the kind Microsoft and Amazon operate are estimated to produce more than 300 times that.“Direct air capture is like the Saturn V rocket for the moonshot,” Smith says. “If someone can perfect that, it’s going to just change the equation.” Another carbon-removal technique is bioenergy with carbon capture and storage, or BECCS, which is basically growing plants to absorb carbon and then burning that biomass for power and sequestering the resulting emissions underground. The U.K.’s biggest power plant, in North Yorkshire, has a pilot project using the technology. It’s the first working example of BECCS, and it captures less than 1 ton of carbon dioxide a day.When it comes to machines that successfully remove carbon from the atmosphere today, that’s about it.By Microsoft’s account of its emissions, it needs to buy credits to remove about 2 million tons of CO2 next year—and 6 million by 2030, even though new emissions will be cut by more than half by then. There are other large companies interested in buying credits to offset their carbon sins, too. But there will not be enough carbon-removal tech credits for everyone to offset their emissions. In the near term, Microsoft plans to buy more natural carbon credits that go toward things such as planting trees before switching to tech. In July, Microsoft will begin to solicit bids for its carbon-removal business. Its interest, along with that of Stripe, Shopify Inc., and others, should help fuel investment in new projects, says Deepika Nagabhushan, program director for decarbonized fossil energy at the Clean Air Task Force, which is tracking some 26 potential carbon-capture projects. But it won’t make a difference overnight. “Even if Microsoft announces today that they are going to buy [a certain] number of credits from a direct-air-capture project, it’s going to take a couple of years for a project to even develop.”On Joppa’s conference call, the team from Carbon Direct reminds Microsoft that the low price will make their short-term goals harder. Julio Friedmann, Carbon Direct’s chief scientist, notes most of the available projects in BECCS and direct air capture cost many times Microsoft’s $20-a-ton budget. And other companies need to offer investment funds like Microsoft’s. “You can do a lot with a billion, but you cannot create a gigaton-scale industry with a billion dollars, no matter how smart and savvy the investments are,” Friedmann, who’s also a researcher at the Center on Global Energy Policy at Columbia University, says in an interview.The price is also lower than many experts have modeled for the economic damage each ton of carbon is likely to cause.But Joppa wants to use Microsoft’s purchasing power and its investments to push the price down to a level other buyers can afford. If carbon-capture tech is something only the Microsofts of the world can afford, he worries that the world will fail to contain warming. “Markets work because we make them work,” he says. They work because people put in positive incentives and help juice supply and demand. “You don’t just wish it to be so, and it happens.”Microsoft expects to make mistakes both in investments and carbon-removal choices. Willmott, the carbon expert of the group, says the company wants to be transparent about its successes and failures so others can learn from them.The coronavirus-induced shutdown has made Joppa more certain that radical action is needed quickly. CO2 emissions are down—about 8% of the estimated total for the year will never be emitted, according to the International Energy Agency. Although that’s not enough to make a dent in overall warming, the slowdown has led to cleaner air and clearer skies, and confinement has made the outdoors a welcome respite.“I hope there’s something lasting about it,” he says. “We’ve given people now an experience with a healthier planet, and I hope that’s going to be hard to take away.”There’s another risk in this whole project, of course—that time runs out. Is this plan achievable in the time we have? “It better be,” Joppa says. “I’m existentially worried about the cost of failure.” —With Emily Chasan, Leslie Kaufman, and Akshat Rathi For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Stockopedia
What can we use to predict NSQ:INTU's share price direction?
An important question for large-cap investors right now is whether the current market uncertainty caused by Covid-19 will affect the share prices of companies...
- Business Wire
Intuit Executive to Present at the Bank of America 2020 Global Technology Conference
Alex Chriss, executive vice president and general manager of Intuit’s (Nasdaq: INTU) Small Business & Self-Employed Group, will participate in a fireside chat at the virtual Bank of America 2020 Global Technology Conference, on Wednesday, June 3.
- Zacks
SNPS or INTU: Which Is the Better Value Stock Right Now?
SNPS vs. INTU: Which Stock Is the Better Value Option?
- Motley Fool
This Top Tech Stock's Dividend Could Double in Just 6 Years
At a time when some dividend stocks are cutting their payouts or even suspending them, this tech stock's dividend growth story is a refreshing standout.
- Zacks
Intuit (INTU) Q3 Earnings and Revenues Surpass Estimates
Intuit's (INTU) fiscal third-quarter top line performance reflects negative impact of extension on tax filing deadline. However, buoyant demand for Quickbooks Online, bodes well.
- Zacks
Intuit (INTU) Q3 Earnings and Revenues Top Estimates
Intuit (INTU) delivered earnings and revenue surprises of 0.45% and 0.21%, respectively, for the quarter ended April 2020. Do the numbers hold clues to what lies ahead for the stock?
- Business Wire
Intuit Third Quarter Revenue Declined 8 Percent; Small Business Online Ecosystem Revenue Grew 28 Percent
Intuit Inc. (Nasdaq: INTU), maker of TurboTax, QuickBooks and Mint, announced financial results for the third quarter of fiscal 2020, which ended April 30.
- Zacks
Tech Stocks' Earnings Lineup This Week: PANW, INTU & More
Here we take a sneak peek at five tech stocks lined up to report quarterly earnings this week.
- Zacks
Intuit (INTU) to Report Q3 Earnings: What's in the Cards?
Intuit's (INTU) fiscal Q3 earnings are likely to have gained from buoyant demand for Quickbooks Online. However, an extension on tax filing deadline is likely to have weighed on the top line.
- Zacks
Earnings Preview: Intuit (INTU) Q3 Earnings Expected to Decline
Intuit (INTU) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
- Stockopedia
Upbeat broker recommendations for Intuit Inc
The Intuit Inc (NSQ:INTU) share price has risen by 11.7% over the past month and it’s currently trading at 277.16. For investors considering whether to buy, ho8230;
- Business Wire
Updating Fiscal Third Quarter Guidance for Impact of COVID-19
Intuit Inc. (Nasdaq: INTU) today announced that revenue, operating income and earnings for its third fiscal quarter are expected to be lower than guidance due to the negative impact of COVID-19 on its small business customers and the extension of the IRS tax filing deadline to July 15. Intuit is also withdrawing its previously provided fiscal 2020 guidance, reflecting uncertainty in current small business trends.
- Business Wire
MEDIA ADVISORY: Planning for a 2021 Recovery: At QuickBooks Town Hall Event, Senators Rubio and Cardin Lay out What’s Next for Small Business Relief Efforts
At a virtual QuickBooks Town Hall event this week, Senators Marco Rubio and Ben Cardin met with VP and Business Leader of QuickBooks Capital at Intuit, Luke Voiles, and QuickBooks’ small business customers to discuss next steps for the Paycheck Protection Program (PPP) and future relief efforts for small businesses in the wake of COVID-19 and social distancing restrictions.
- Bloomberg
Credit Karma Cuts Salaries as It Waits for Intuit Deal to Close
(Bloomberg) -- Credit Karma Inc., a fintech company being acquired by Intuit Inc., cut the compensation of all its employees in response to the coronavirus pandemic and faltering economy, according to people familiar with the matter.The startup’s workers will take pay cuts based on seniority, starting at 15% and rising to 50% for executives, said the people, who weren’t authorized to speak publicly about the changes. Management announced the decision during a virtual all-hands meeting Thursday morning.Executives said Credit Karma would be moving to Oakland, California, from San Francisco once its offices reopen, some of the people said. They also announced a freeze on promotions. Employees who don’t want to take the pay cut or work in Oakland are eligible for what executives on the call dubbed a “getting off the bus” buyout plan with six weeks’ salary, one of the people said.“In this challenging economic environment our priorities remain the same -- supporting our employees and supporting our members,” a Credit Karma spokeswoman said in an emailed statement.Credit Karma agreed in February to sell itself to Intuit for $7.1 billion in cash and stock. At the time, the companies said they expected the deal to close in the second half of 2020, subject to regulatory approvals. The termination fee for the deal is as much as $350 million, according to Intuit.Read more: TurboTax Owner’s Credit Karma Buy Could Spark Antitrust ConcernCredit Karma has garnered more than 100 million users since it was founded in 2007 by providing free credit scores online. The startup offers other services, including the ability to apply for a credit card, find an auto loan and open a savings account.Read more: Credit Karma Founder to Get Billion-Dollar Windfall From SaleMore than 30 million users log into Credit Karma every week, the company has said. These people don’t pay the company for any of its services, and Credit Karma makes money through an affiliate fee it receives when someone successfully applies for a loan or credit card on its platform. Credit Karma generated almost $1 billion in unaudited revenue last year, up 20% from 2018, Intuit said earlier this year.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Business Wire
Intuit to Announce Third-quarter Fiscal 2020 Results on May 21
Intuit Inc. (Nasdaq: INTU), maker of QuickBooks, TurboTax and Mint, will announce its third-quarter results for fiscal year 2020 on May 21 following the close of market. The company’s third quarter ends today, April 30. Intuit executives will discuss the financial results on a conference call at 1:30 p.m. Pacific time on May 21. To listen to the call, dial 844-246-4601 in the United States or 703-639-1172 from international locations. No reservation or access code is needed. The conference call can also be heard live at http://investors.intuit.com/Events/default.aspx. Prepared remarks for the call will be available on Intuit’s website after the call ends.
