Intuit Inc

All three major U.S. stock indices closed lower, with the Dow falling 113.52 points, or 0.21%, to 53,463.88, after the Personal Consumption Expenditures (PCE) price index came in higher than expected. Investors held back trading ahead of Nvidia's earnings, the AI industry leader, due after the close. The S&P 500 closed at 7,675.70, down 0.02%, and the Nasdaq closed at 26,130.20, down 0.08%. The Commerce Department reported that the overall PCE index rose 3.7% year-over-year in July, above the 3.6% analysts had forecast, while the core PCE index rose 3.3%, in line with expectations. The data increased market expectations that the Fed may raise interest rates at its September meeting, with CME FedWatch indicating a 38.1% probability. Nvidia shares fell 1.6% ahead of its earnings release, while Meta rose 1% after reaching a settlement of up to $18 billion in a lawsuit over harm to young users. CrowdStrike gained 2% ahead of its second-quarter results. Healthcare stocks fell the most, down 1%, with Moderna down 5.8% and Intuit down 3.2% after issuing weaker revenue guidance. J.M. Smucker rose 4.3% after forecasting a smaller-than-expected sales decline. On other economic data, durable goods orders rose 1.1% in July, above expectations, and second-quarter GDP grew 1.5%, unchanged from the initial estimate. European stocks were flat, with the STOXX 600 closing at 656.41, down 0.01%, while the FTSE 100 fell 0.07%, but the CAC-40 rose 0.27% and the DAX rose 0.08%. Investors are watching talks between Iran and Oman over the Strait of Hormuz, a route for up to a fifth of the world's oil and gas. European bank stocks led gains, up 1%, with Deutsche Bank surging 4.3% to its highest level since 2011, and Commerzbank up 2.8% after reports that Germany's finance minister plans to discuss a potential acquisition of Commerzbank with UniCredit's CEO. Sources said the ECB is ready to raise interest rates in September to counter the impact of the war in Iran. WTI crude oil fell 0.16% to close at $82.23 per barrel, and Brent fell 0.84% to close at $87.84 per barrel.

Shares of financial technology platform Intuit fell 3.2% in afternoon trading after the company issued weaker-than-expected near-term and 2027 revenue guidance, overshadowing its second-quarter earnings beat. Intuit reported second-quarter revenue of $4.35 billion, up 13.7% year-over-year and beating estimates by 2%, with GAAP profit of $1.34 per share, well above the $0.77 consensus. However, for the third quarter of 2026, the company guided revenue to a midpoint of $4.31 billion, below analyst estimates of $4.37 billion, and forecast 2027 revenue between $23.28 billion and $23.51 billion, representing annual growth of only 9% to 10%, trailing expectations. Management also projected slower growth in key segments, with TurboTax revenue growth of just 2% to 3% and Mailchimp revenue flat to down 1%. The shares closed the day at $346.06, up 9.4% from the previous close.

Bank of America downgraded Intuit to Neutral from Buy and cut its price objective to $360 from $400, warning that fiscal 2027 could become a transition year marked by heavier investment, weaker TurboTax growth, and increasing competition from lower-cost AI alternatives. With Intuit trading at $357.46, the new target implies just 0.7% upside. The bank's biggest concern is TurboTax, expecting fiscal 2027 growth of only 2.2%, well below the 6.8% Street expectation, as AI-based alternatives take share at the lower end of the market. Management plans to respond with more free and lower-cost offerings, broader distribution, and heavier customer-acquisition spending, which may stabilize user growth but pressure revenue mix and profitability. The bank also cut its 2027 EPS estimate to $23.02 from $27.23 and 2028 EPS to $27.28 from $30.91, while noting bright spots like Credit Karma's 16% growth and a 33.3% operating margin that beat estimates.

Abercrombie & Fitch soared 37% after trouncing fiscal second-quarter estimates and raising its full-year outlook, with adjusted earnings of $2.42 per share and revenue up 5% to $1.27 billion, helped by tariff refunds and stronger growth at its Abercrombie unit. Intuit fell 4% after offering disappointing fiscal year 2027 guidance of $23.3 billion to $23.5 billion in revenue, below the $23.7 billion analyst estimate, though its fiscal fourth-quarter earnings and revenue beat expectations. Meta Platforms jumped 3% after reaching a settlement with state attorneys general in a case alleging it made its apps addictive to teenagers. Zoom Communications dropped 7% after its third-quarter forecast of $1.46 to $1.48 earnings per share missed the $1.50 estimate. Kohl's rose 2% after raising its full-year outlook, partly due to $150 million in tariff refunds, and announced share buybacks of up to $100 million in 2026. J.M. Smucker climbed 3% on fiscal first-quarter revenue of $2.22 billion, topping the $2.13 billion consensus. SolarEdge Technologies jumped nearly 8% after a UBS upgrade to buy, citing an FCC policy expected to boost market share and pricing power. Semtech rose over 8% on second-quarter earnings beat, with adjusted EPS of 71 cents versus 61 cents expected. Boston Scientific fell 5% after reporting a cybersecurity incident causing product disruptions. SAP declined 3% after a UBS downgrade to neutral, citing slow delivery of agentic AI.

Intuit shares fell 10% early Wednesday after the software company issued a fiscal 2027 outlook below Wall Street expectations. The company projects next year's revenue between $23.279 billion and $23.512 billion, putting the midpoint about $324.5 million below the LSEG consensus, with adjusted earnings expected at $22.88 to $23.12 per share. The weaker forecast follows a solid fourth quarter, where revenue rose 14% to $4.35 billion, topping the $4.27 billion estimate, while fiscal 2026 revenue reached $21.45 billion. Management expects slower growth from key consumer businesses, with TurboTax revenue projected to rise 2% to 3% compared with 7% growth in fiscal 2026, and Mailchimp revenue expected to remain flat or decline 1%. Intuit said lower entry prices are part of an effort to attract more customers, and it plans to include stock-based compensation in adjusted earnings, reducing fiscal 2027 adjusted EPS by $5.81 under the revised presentation.

Intuit stock fell 4% through 10:50 a.m. ET Wednesday despite reporting strong fiscal Q4 and full-year 2026 earnings, as guidance for fiscal 2027 came in weaker than expected. The company earned $4.03 per share on sales over $4.3 billion, beating analyst estimates of $3.59 per share on sales under $4.3 billion. For fiscal 2026, revenue grew 14% to $21.4 billion, with GAAP earnings of $16.46 per share, up 20% year over year. However, Intuit forecast Q1 2027 sales growth of 11% to about $4.3 billion, and full-year sales growth of only 9% to 10% to about $23.4 billion, with GAAP earnings between $20.12 and $20.36 per share. Despite the slowdown, the company still expects earnings growth of 22% to 24%, which could make the stock attractive to value investors.

U.S. stock futures hovered around the flatline on Wednesday as investors awaited the latest inflation data and Nvidia's quarterly results. Among premarket movers, Intuit tumbled 11.8% to $315.30 after issuing fiscal 2027 guidance that fell well short of expectations, overshadowing a strong fourth-quarter earnings beat. Semtech surged 4.7% after reporting record fiscal second-quarter results, with revenue of $341.9 million and adjusted EPS of $0.71 beating estimates, and data-center revenue hitting a record $100 million. SolarEdge rose 5.6% after UBS upgraded it to Buy, citing the FCC's decision to add foreign-produced power inverters to its national-security Covered List, which could tighten supply and benefit domestic suppliers. Spyre Therapeutics fell 11.7% after deciding not to develop its drug SPY072 as a standalone rheumatoid arthritis treatment despite positive statistical results, while Boston Scientific dropped 3.2% on a cybersecurity incident disrupting operations.

Intuit shares plunged 11% in premarket trading after the financial technology platform issued fiscal 2027 revenue guidance of $23.279 billion to $23.512 billion, below the $23.7 billion analysts expected, though its fiscal fourth-quarter earnings and revenue beat estimates. The disappointing outlook dragged other software stocks lower, with the iShares Expanded Tech-Software ETF down over 1%, ServiceNow off more than 2.5%, and Workday and Salesforce each down 2%. Zoom Communications fell 7% after its third-quarter earnings per share guidance of $1.46 to $1.48 came in short of the $1.50 FactSet consensus. Kohl's declined 5% after reporting a 0.9% drop in second-quarter comparable sales, worse than the 0.6% decline expected, but the retailer raised its full-year outlook, partly due to $150 million in tariff refunds, and restarted share buybacks of up to $100 million in 2026. On the upside, J.M. Smucker climbed 5.6% after fiscal first-quarter revenue of $2.22 billion topped the LSEG consensus of $2.13 billion, SolarEdge jumped nearly 7% following a UBS upgrade to buy on a new FCC policy, and Semtech rose more than 5% after beating earnings estimates with adjusted EPS of 71 cents versus 61 cents expected. Box gained over 2% on revenue beat, while Boston Scientific fell more than 3% after disclosing a cybersecurity incident causing product disruptions, and SAP dropped almost 4% after a UBS downgrade to neutral on slow agentic AI delivery.

U.S. stock futures rose on Tuesday as investors awaited Nvidia earnings and key inflation data, while the White House expanded sanctions against Iran and Bitcoin extended its rally above $80,000. Dow futures were up 89 points, or 0.2%, S&P 500 futures gained 20 points, or 0.3%, and Nasdaq 100 futures advanced 165 points, or 0.6%. Treasury Secretary Scott Bessent unveiled new economic measures against Iran, describing them as an economic onslaught against Iran's financial connections, and warned that any entity facilitating money laundering on behalf of Iran would be excluded from the U.S. dollar system. Brent crude futures fell 0.6% to $91.58 a barrel as traders played down immediate supply risks, while Intuit is scheduled to report earnings after the close following its announcement of a 17% workforce reduction. Bitcoin gained 4.0% to $80,415.7, its highest level in more than three months, supported by strong inflows into spot Bitcoin ETFs and short-covering.

Intuit and several top executives are facing a new class action lawsuit alleging they misled investors about generative AI competition and Mailchimp performance. The Bruce v. Intuit case claims the company understated competitive threats from generative AI tools to products like TurboTax and misrepresented trends in Mailchimp's business. The suit covers buyers of Intuit stock between 25 February 2025 and 1 June 2026 and alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act. Plaintiffs have expanded the suit to cover a longer class period, building on earlier litigation focused on similar issues. If the class is certified and plaintiffs succeed, Intuit could face damages, legal fees, and potential changes to how it communicates about AI competition and Mailchimp.

Intuit trades at $367, a little over half the $694.29 high it set within the past year, after a tax season the company concedes fell short of its own expectations, and amid securities class actions alleging misstatements about the strength of its tax business. The company says it lost on price with the most price-sensitive do-it-yourself filers earning under $50,000 a year, a group inside a DIY category it sizes at $5 billion, or 12% of TurboTax's addressable market. Operating margin has risen in each of the last three years, from 21.6% to 23.9% to 25.7%, and to 27.5% on a trailing-twelve-month basis now. Intuit is reducing its full-time workforce by 17%, and the CFO has said the majority of the cost savings are expected to flow to the bottom line, alongside a commitment to annual earnings-per-share growth of at least the mid teens in the coming years. At 22.1 times trailing earnings, inside a ten-year range of 15.7 to 83.9, the price appears to give little credit for the earnings side.

The Law Offices of Howard G. Smith reminds investors that securities fraud class action lawsuits have been filed against Hub Group, Planet Fitness, Intuit, and Nano-X Imaging, with lead plaintiff deadlines approaching. For Hub Group, the class period is April 28, 2023 to May 11, 2026, with a deadline of August 28, 2026; the complaint alleges material misstatements in financial statements from Q1 2023 to Q4 2024 and Q1 2025 to Q3 2025. Planet Fitness faces a class period of November 6, 2025 to May 6, 2026 and a deadline of September 14, 2026, over claims it misled investors about membership growth and a Black Card price increase. Intuit's class period runs from August 22, 2025 to May 20, 2026, with a September 8, 2026 deadline, alleging overstated competitive advantages and unrealistic TurboTax revenue guidance. Nano-X Imaging has a class period of March 31, 2025 to April 17, 2026 and the earliest deadline of August 11, 2026, accused of overstating efficiency gains and demand while facing rising operating expenses.

A securities fraud class action lawsuit has been filed against Intuit Inc. on behalf of investors who purchased or acquired Intuit securities between August 22, 2025 and May 20, 2026. The lawsuit, captioned Baldwin v. Intuit Inc. in the United States District Court for the Northern District of California, alleges that Intuit made materially false and misleading statements and failed to disclose adverse facts about its business, including that it overstated competitive advantages and growth, was losing significant business in its tax-related operations due to competitive and pricing pressures, and that its full-year 2026 TurboTax revenue growth guidance was unreliable. The complaint points to a May 20, 2026 Reuters report that Intuit was laying off about 17% of its global workforce, or about 3,000 employees, and winding down two offices, which caused the stock to drop 3.9% that day, and to Intuit's subsequent third-quarter fiscal 2026 earnings release after market close that same day, which revealed revenue growth of only 7% year-over-year versus consensus estimates of at least 8% and an acknowledgment that TurboTax online paying units were expected to grow by only 2%, leading to a further 20% stock decline. Investors have until September 8, 2026 to seek lead plaintiff status through Kessler Topaz Meltzer & Check, LLP or other counsel.

The Law Offices of Frank R. Cruz reminds investors that class action lawsuits have been filed on behalf of shareholders of Intuit, Planet Fitness, and GPGI, with lead plaintiff deadlines in September 2026. For Intuit, the class period is August 22, 2025 to May 20, 2026, and the deadline is September 8, 2026; the complaint alleges the company overstated its competitive advantages and growth while losing significant business in its tax-related segment, particularly TurboTax, due to increasing competitive and pricing pressures, rendering its fiscal 2026 TurboTax revenue growth guidance unreliable. Planet Fitness faces a class period from November 6, 2025 to May 6, 2026, with a September 14, 2026 deadline, over claims it could not sustain membership growth or proceed with a planned Black Card price increase without a major marketing overhaul. GPGI's class period runs from November 3, 2025 to May 6, 2026, also with a September 14, 2026 deadline, alleging the company overstated the value of Husky and that the Husky acquisition was motivated by generating fees for Resolute Holdings and individual defendants rather than creating long-term value for CompoSecure shareholders.

Rosen Law Firm reminds purchasers of Intuit Inc. securities between August 22, 2025 and May 20, 2026 of the September 8, 2026 lead plaintiff deadline in a securities class action. The lawsuit alleges that Intuit made materially false and misleading statements and failed to disclose that it had overstated its competitive advantages and growth, was losing significant business in its tax-related segment due to increasing competitive and pricing pressures, and that its full year 2026 TurboTax revenue growth guidance was unreliable. Investors who purchased Intuit securities during the class period may be entitled to compensation through a contingency fee arrangement without out-of-pocket costs. A class action has already been filed, and investors seeking to serve as lead plaintiff must move the Court by the September 8 deadline.

A securities class action lawsuit has been filed against Intuit Inc. on behalf of shareholders who purchased securities between August 22, 2025 and May 20, 2026. The complaint names Chairman and CEO Sasan K. Goodarzi and CFO Sandeep S. Aujla as individual defendants, alleging they controlled the company's public communications and signed Sarbanes-Oxley certifications during the class period. Intuit shares fell $76.86, or 20.02%, to $307.07 on May 21, 2026, after the company disclosed a 17% workforce reduction and TurboTax revenue that missed expectations. The suit claims the two officers sold a combined total of over $41 million in shares during the period of alleged misstatements, with Goodarzi selling 55,756 shares for over $36 million and Aujla selling 8,782 shares for over $5 million. The court has set September 8, 2026 as the deadline for investors to apply for lead plaintiff appointment.

Fundsmith Equity Fund sold Intuit Inc. in the second quarter of 2026, citing dissatisfaction with the company's handling of its Mailchimp acquisition. The fund stated that although it had only recently repurchased Intuit shares, it was sensitive to the way Intuit reacted to the poor Mailchimp deal, which was the original reason for selling. Fundsmith noted that Intuit now reports results excluding Mailchimp, which the fund sees as evidence of how bad the acquisition was and a sign of a continuing state of denial. The disclosure came in Fundsmith's Q2 2026 investor letter, during a period when the fund returned negative 2.9% in the first half of the year, underperforming the MSCI World Index by 14.1 percentage points.

Bragar Eagel & Squire, P.C. has filed a class action lawsuit against Intuit Inc. in the United States District Court for the Northern District of California. The suit represents investors who purchased or acquired Intuit securities between August 22, 2025 and May 20, 2026, alleging the company made false and misleading statements about its competitive advantages and growth. Specifically, the complaint claims Intuit failed to disclose it was losing significant business in its tax-related operations, particularly TurboTax, due to increasing competitive and pricing pressures, rendering its 2026 TurboTax revenue growth guidance unreliable. On May 20, 2026, Intuit reported disappointing fiscal Q3 2026 results and acknowledged it lost price-sensitive do-it-yourself filers, causing its stock to drop 20 percent from $383.93 to $307.07 per share. Investors have until September 8, 2026 to seek lead plaintiff appointment.

Rosen Law Firm reminds purchasers of Intuit Inc. securities between August 22, 2025 and May 20, 2026 of the September 8, 2026 lead plaintiff deadline in a securities class action. The lawsuit alleges that Intuit made materially false and misleading statements by overstating competitive advantages and growth while failing to disclose significant business losses in its tax-related business, particularly TurboTax, due to increasing competitive and pricing pressures, rendering its full-year 2026 TurboTax revenue growth guidance unreliable. Investors who purchased Intuit securities during the class period may be entitled to compensation through a contingency fee arrangement without out-of-pocket costs. Rosen Law Firm, which has recovered billions for investors and was ranked number one by ISS Securities Class Action Services for settlements in 2017, encourages investors to select qualified counsel with a proven track record in securities class actions.

Intuit, AppLovin, and Strategy are the three worst-performing stocks on the Nasdaq-100 index in 2026, with year-to-date declines ranging from 36% to 53% as of Monday's close. Intuit has fallen about 53% this year and 61% over the past 12 months, pressured by fears that artificial intelligence will disrupt its financial software business, though the company reported 10% sales growth last quarter and raised full-year guidance. AppLovin is down 38% in 2026 despite posting 59% revenue growth to $1.8 billion and doubling net income to $1.2 billion in the first quarter, as investors worry that AI-powered tools could intensify competition in app monetization. Strategy has declined 36% this year and 76% over 12 months, weighed down by falling cryptocurrency prices and the company's recent Bitcoin sales after previously pledging to hold. The article suggests Intuit may be undervalued at a forward price-to-earnings multiple of 11, while AppLovin's forward P/E of 26 offers little margin of safety, and Strategy is deemed too risky given its dependence on Bitcoin.

Jensen Investment Management exited its position in Intuit during the second quarter of 2026, citing diminished confidence in the durability of the company's competitive advantages and the stability of its earnings. The firm's Quality Growth Equity Strategy noted that Intuit's moat, historically built on customer entrenchment in TurboTax and QuickBooks, is precisely the activity most exposed to generative and agentic AI. Intuit cut its full-year TurboTax outlook while raising total-company guidance on cost cuts, buybacks, and a lower share count rather than demand, and non-GAAP operating margin fell 132 basis points as R&D rose 19%. The company is leaning on a 17% workforce reduction to protect margins. Intuit shares closed at $296.33 on July 24, 2026, with a one-month return of 5.16% and a 52-week decline of 64.18%.

Rosen Law Firm reminds purchasers of Intuit Inc. securities between August 22, 2025 and May 20, 2026 of the September 8, 2026 lead plaintiff deadline in a securities class action. The lawsuit alleges that Intuit made materially false and misleading statements by overstating competitive advantages and growth while failing to disclose significant business losses in its tax-related business, particularly TurboTax, due to increasing competitive and pricing pressures, rendering its full-year 2026 TurboTax revenue growth guidance unreliable. Investors who purchased Intuit securities during the class period may be entitled to compensation through a contingency fee arrangement without out-of-pocket costs. Rosen Law Firm, which has recovered billions of dollars for investors and achieved the largest-ever securities class action settlement against a Chinese company, encourages investors to select qualified counsel with a proven track record.

Ten stocks in the S&P 500 lost more than 40% in 2026 even as the index rose 8.28%, as investors fled companies they believed artificial intelligence would disrupt. Intuit fell 55.27% after cheap AI tax tools emerged, prompting Goldman Sachs analyst Gabriela Borges to cut her price target to $276 from $519 and the company to reduce staff by 17% and lower its TurboTax forecast. Accenture dropped 45.21% as clients shifted spending to AI instead of consultants, with new orders slipping to $19.3 billion from $19.7 billion and the firm cutting its sales growth outlook to between 3% and 4%. Cognizant, Gartner, and The Trade Desk each lost between 44% and 55%, while the two worst performers fell for non-AI reasons: CoStar Group sank 58.86% after saying its Homes.com site would not cover costs until 2029, and Boston Scientific declined 53.59% after cutting its sales growth forecast and recalling Accolade pacemakers linked to four deaths and 2,557 serious injuries. Meanwhile, chip and memory makers surged, with Sandisk up 505.17%, Dell Technologies up 247.55%, and Micron Technology up 222.68%.

The Law Offices of Frank R. Cruz reminds investors that class action lawsuits have been filed on behalf of shareholders of Intuit, Planet Fitness, and GPGI, with lead plaintiff deadlines approaching in September 2026. For Intuit, the class period runs from August 22, 2025 to May 20, 2026, and the lead plaintiff deadline is September 8, 2026; the complaint alleges the company overstated its competitive advantages and growth while losing significant business in its tax-related segment, particularly TurboTax, due to competitive and pricing pressures. Planet Fitness faces a class period from November 6, 2025 to May 6, 2026, with a September 14, 2026 deadline, and is accused of misleading investors about its ability to grow membership rates without a major marketing overhaul or proceed with a planned Black Card price increase. GPGI's class period spans November 3, 2025 to May 6, 2026, also with a September 14, 2026 deadline, and the complaint alleges the company overstated the value of Husky, misrepresented revenue and EBITDA targets, and that the Husky Acquisition was primarily motivated to generate fees for Resolute Holdings and individual defendants rather than create long-term value for CompoSecure shareholders.

Bronstein, Gewirtz & Grossman LLC has filed a class action lawsuit against Intuit Inc. and certain officers, alleging violations of federal securities laws. The suit covers investors who purchased or acquired Intuit securities between August 22, 2025 and May 20, 2026. The complaint claims defendants made false and misleading statements about Intuit's competitive advantages and growth, while failing to disclose significant business losses in its tax-related segment, particularly TurboTax, due to increasing competitive and pricing pressures. It further alleges that previously issued fiscal year 2026 TurboTax revenue growth guidance was unreliable or unrealistic. Investors have until September 8, 2026 to seek lead plaintiff appointment.

A class action lawsuit has been filed against Intuit Inc. and certain senior executives for securities fraud. The suit alleges Intuit misled investors about TurboTax's competitive advantages and growth prospects, claiming the company faced pressure among price-sensitive DIY tax filers and was not competitive on price. Intuit's stock dropped 20.02% on May 21, 2026, after the company reported disappointing fiscal Q3 2026 results and acknowledged losing on price, with TurboTax online paying units expected to grow only 2%. Investors have until September 8, 2026 to seek lead plaintiff appointment in the case pending in the U.S. District Court for the Northern District of California.

Kessler Topaz Meltzer & Check, LLP has filed a securities fraud class action lawsuit against Intuit Inc. on behalf of investors who purchased or acquired Intuit securities between August 22, 2025 and May 20, 2026. The lawsuit, captioned Baldwin v. Intuit Inc., was filed in the United States District Court for the Northern District of California and alleges that Intuit made materially false and misleading statements regarding the strength of its tax-related business, particularly its TurboTax unit. The complaint claims that Intuit overstated its competitive advantages and growth while failing to disclose increasing competitive and pricing pressures that were eroding its tax business, rendering its full-year 2026 TurboTax revenue growth guidance unreliable. On May 20, 2026, Intuit's stock fell 3.9% after Reuters reported layoffs of about 17% of its global workforce, and then dropped an additional 20% after the company announced third-quarter fiscal 2026 revenue growth of only 7% year-over-year and acknowledged a disappointing tax season with TurboTax online paying units expected to grow by just 2%. Investors have until September 9, 2026 to seek lead plaintiff status.

U.S. stocks rose on Monday, with the S&P 500 up 0.64%, the Dow Jones Industrial Average up 0.47%, and the Nasdaq 100 up 1.58%, as a rebound in chipmakers and AI-infrastructure stocks gathered pace. The iShares Semiconductor ETF gained more than 4%, with Teradyne and Western Digital up more than 11%, and Micron Technology and Seagate Technology up more than 9%. The rally comes ahead of megacap technology earnings this week, starting with Alphabet and Tesla on Wednesday, while Bloomberg Intelligence forecasts suggest second-quarter earnings may increase by 23%, with AI infrastructure stocks contributing nearly 60% of the S&P 500's earnings-per-share growth. Software stocks fell after Morgan Stanley downgraded Adobe, Intuit, and Workday, and rising crude oil prices pushed the 10-year Treasury yield to a two-month high of 4.64%. WTI crude oil rose more than 2% to a five-week high as the U.S. and Iran exchanged strikes for a tenth consecutive day, and Houthi rebels threatened a maritime blockade on Saudi Arabia.

U.S. stock indexes climbed on Tuesday as a rebound in chipmakers and AI-infrastructure stocks gathered pace. The S&P 500 rose 0.38%, the Dow Jones Industrial Average added 0.17%, and the Nasdaq 100 jumped 1.26%. Chipmakers rallied after a recent selloff cheapened valuations, drawing dip buyers ahead of megacap technology earnings this week, starting with Alphabet on Wednesday. Software stocks were weak after Morgan Stanley downgraded several companies in the sector, including Adobe, Intuit, and Workday. Hasbro surged more than 10% after reporting better-than-expected quarterly revenue and raising its full-year adjusted Ebitda forecast, while 3M gained over 8% on stronger earnings and an improved outlook. Danaher fell more than 13% after issuing a weaker revenue growth forecast, and MSCI dropped over 10% on an earnings miss and higher expense guidance.

Robbins Geller Rudman & Dowd LLP announced a class action lawsuit against Intuit Inc. on behalf of purchasers of Intuit securities between August 22, 2025 and May 20, 2026, with a lead plaintiff deadline of September 8, 2026. The lawsuit alleges that Intuit and certain top executives made false or misleading statements about the company's competitive advantages and growth, while failing to disclose significant business losses in its tax-related segment, particularly TurboTax, due to increasing competitive and pricing pressures, rendering its 2026 TurboTax revenue growth guidance unreliable. On May 20, 2026, Reuters reported Intuit would cut about 17% of its global workforce, or roughly 3,000 employees, causing the stock to drop nearly 4%, and later that day Intuit disclosed weak fiscal third quarter 2026 tax season revenue, with TurboTax revenue growing only 7% year-over-year versus consensus estimates of at least 8%, and projected TurboTax online paying units would grow by only 2% amid an industry-wide contraction, leading to a stock decline of over 20%. Investors with substantial losses can seek appointment as lead plaintiff by the September 8 deadline.

The Law Offices of Frank R. Cruz reminds investors that class action lawsuits have been filed on behalf of shareholders of Intuit, Planet Fitness, and GPGI, with lead plaintiff deadlines approaching in September 2026. The Intuit suit covers a class period from August 22, 2025 to May 20, 2026 and alleges the company overstated competitive advantages and growth while losing significant tax-related business, making its fiscal 2026 TurboTax revenue guidance unreliable; the lead plaintiff deadline is September 8, 2026. The Planet Fitness suit covers November 6, 2025 to May 6, 2026 and alleges the company could not sustain membership growth or proceed with a planned Black Card price increase without major marketing changes; the lead plaintiff deadline is September 14, 2026. The GPGI suit covers November 3, 2025 to May 6, 2026 and alleges the company overstated the value of Husky, that Husky was not on track to meet revenue and EBITDA targets, and that the acquisition was motivated by generating fees for Resolute Holdings and individual defendants rather than creating long-term shareholder value; the lead plaintiff deadline is September 14, 2026.