Intuit Inc. provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax. The Small Business & Self-Employed segment provides QuickBooks services, that includes financial and business management online services and desktop software, payroll solutions, time tracking, merchant payment processing solutions, and financing for small businesses; and Mailchimp services, such as e-commerce, marketing automation, and customer relationship management. This segment also offers QuickBooks online services and desktop software solutions comprising QuickBooks Online Advanced, a cloud-based solution; QuickBooks Enterprise, a hosted solution; and QuickBooks Self-Employed solution; payment-processing solutions, including credit and debit cards, Apple Pay, and ACH payment services; and financial supplies and financing for small businesses, as well as electronic filing of federal and state income tax returns. The Consumer segment provides TurboTax income tax preparation products and services. The Credit Karma segment offers consumers with a personal finance platform that provides personalized recommendations of home, auto, and personal loans, as well as credit cards and insurance products. The ProTax segment provides Lacerte, ProSeries, and ProFile desktop tax-preparation software products; and ProConnect Tax Online tax products, electronic tax filing service, and bank products and related services. It sells products and services through various sales and distribution channels, including multi-channel shop-and-buy experiences, websites and call centers, mobile application stores, and retail and other channels. The company was founded in 1983 and is headquartered in Mountain View, California.

Intuit выглядит как качественный, но уже не дешёвый бизнес: сильная прибыльность сочетается с заметной премией по части мультипликаторов. P/E на уровне 23.63 ниже медианы отрасли, что поддерживает оценку, однако P/S 5.18, P/B 5.90 и P/FCF 29.57 остаются выше отраслевых ориентиров и ограничивают потенциал переоценки. При этом динамика P/E заметно улучшилась: показатель снизился с 48.64 до 23.63, что говорит о росте прибыли быстрее цены и о нормализации оценки. Маржинальность у компании выдающаяся: gross margin около 80%, operating margin 27.47% и net margin 21.91% существенно выше медианы отрасли и при этом улучшаются по годам. Рентабельность капитала и активов также сильная: ROE 23.29%, ROA 12.75% и ROI 18.17% подтверждают высокую эффективность бизнеса. Выручка, валовая прибыль, EBITDA, операционная и чистая прибыль в целом растут, что поддерживает фундаментальную стоимость и качество денежного потока. Баланс выглядит умеренно устойчивым: debt/equity 0.26 ниже отраслевой медианы, а cash on hand высокий, но quick ratio формально равен нулю, что требует осторожности в оценке краткосрочной ликвидности. Current ratio 1.45 приемлемый, хотя и ниже медианы сектора, поэтому ликвидность не является сильным драйвером переоценки. Долгосрочный долг остаётся заметным, но не выглядит чрезмерным на фоне высокой прибыльности и денежной генерации. Отсутствие дивидендной доходности убирает один из источников поддержки для инвестора, ориентированного на доход. В целом фундаментал оправдывает премию к слабым компаниям сектора, но из-за дорогих P/S, P/B и P/FCF, а также отсутствия дивидендов, потенциал роста оценки выглядит ограниченным и скорее умеренным, чем агрессивным.

Intuit Inc.

Сильный индекс, значительно упал. Быки в растерянности.

Strong index, significantly down. The bulls are confused.

Сильный индекс, значительно упал. Медведи в растерянности.

Strong index, significantly down. The bears are confused.

Сильный индекс, без изменений. Рынок не поддерживает быков.

Strong index, flat. The market does not support the bulls.

Сильный индекс, без изменений. Рынок на стороне медведей.

Strong index, flat. The market is on the bears' side.

Сильный индекс, значительно упал. Отток средств из лонгов на высоком уровне.

Strong index, significantly down. Outflow of funds from longs at a high level.

Сильный индекс, значительно вырос. Приток средств в шорты на высоком уровне.

Strong index, significantly up. Inflow of funds into shorts at a high level.

У Intuit сильная прибыльность и рост, но оценка по P/S, P/B и P/FCF остаётся дорогой, поэтому фундаментал поддерживает лишь умеренно осторожный взгляд.

The S&P 500 Index ($SPX) (SPY) is up +0.58%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.91%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.64%. June E-mini S&P futures (ESM26) are up +0.70%, and June E-mini Nasdaq futures (NQM26) are up +0.79%.
Stocks are seeing support again today as reports circulate that an interim US-Iran peace agreement could be signed as early as this weekend, ending the military hostilities, reopening the Strait of Hormuz, and ending the US blockade on Iran and its oil exports. Negotiations would then begin on the more intractable issues, such as sanctions against Iran, the release of $24 billion of frozen Iranian assets, and the resolution of Iranian nuclear issues. However, Iran said its leaders still need to make a final decision on the proposed interim peace deal.
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Stocks surged on Thursday after President Trump said he canceled planned military strikes against Iran, citing "discussions" with Iranian leadership. He added that a "time and place of the signing" of a negotiated end to the war would "be announced shortly," and the US naval blockade of the Strait of Hormuz "will remain in full force and effect until this transaction is finalized."
WTI crude oil prices (CLN26) are down more than -3% today on hopes for a near-term US-Iran agreement and a reopening of the Strait of Hormuz.
In positive news for stocks, the University of Michigan’s June US Consumer Sentiment Index rose +4.1 to 48.9, which was stronger than expectations for a rise to 46.0. Also, the University of Michigan’s June 1-year inflation expectations rate eased to +4.6% from +4.8% in May, and was weaker than expectations of +4.9%. The June 5-10 year inflation expectations rate eased to +3.4% from +3.9% in May, weaker than expectations of +3.8%.
The markets are discounting a zero percent chance of a +25 bp rate hike at the next FOMC meeting on June 16-17.
Overseas stock markets are higher today. The Euro Stoxx 50 is up +1.9%. China's Shanghai Composite closed up +1.12%. Japan’s Nikkei-225 Stock Average closed up +2.81%.
Interest Rates
September 10-year T-notes (ZNU6) today are down -3 ticks, and the 10-year T-note yield is up +1.6 bp at 4.477%. T-notes are seeing weakness today as the 10-year inflation expectations rate is up +0.1 bp at 2.306%, despite today’s drop in oil prices. The T-note market remains worried about inflation pressures, which are likely to remain sticky even after the Strait of Hormuz reopens. The T-note market has some carry-over weakness from Thursday, when demand was lackluster for the Treasury’s 30-year bond auction.
European government bond yields are trading lower. The 10-year German bund yield is down -3.3 bp at 2.999%. The 10-year UK gilt yield is down -6.6 bp at 4.839%.
On Thursday, the ECB, as expected, raised the deposit facility rate by +25 bp to 2.25% from 2.00% and said, "The outlook remains uncertain, with upside risks for inflation and downside risks for economic growth." Swaps are discounting a 37% chance of a +25 bp ECB rate hike at its next policy meeting on July 23.
US Stock Movers
Space Exploration Technologies Corp (SPCX), doing business as SpaceX, started trading today near $160 per share, up nearly +20% from Thursday’s IPO of $135. The IPO was more than four times oversubscribed, indicating strong demand for the stock. A strong showing by SpaceX today would be positive for investor sentiment and could help the upcoming IPOs for AI companies Anthropic and OpenAI.
Space-linked stocks are trading lower despite the favorable SpaceX debut, with EchoStar (SATS) down more than -9%, and Rocket Lab (RKLB) down more than -7%.
Chip stocks recovered from early losses and are trading mostly higher. The iShares Semiconductor ETF (SOXX) is up +2.25% today, adding to Thursday’s sharp rally of +8.39%. Thursday’s rally was sparked by signs that AI spending is continuing after Oracle reported quarterly capital expenditures that were higher than expected, driven by increased data center spending. Chip leaders today include Arm Holdings (ARM)with a gain of more than +10%, and gains of more than +5% in Qualcomm (QCOM), AMD (AMD), and Intel (INTC).
Adobe (ADBE) is down more than -7% after CFO Dan Durn said he would leave the company on June 15, following news earlier this year that Adobe’s CEO would resign. The Adobe news put continued downward pressure on software stocks, which were undercut on Thursday by negative earnings news from Oracle (ORCL). Autodesk (ADSK) is down more than -3% and Intuit (INTU) is down by more than -2%.
Airline stocks are seeing continued support after oil prices today moved lower, adding to Thursday’s decline. United Airlines (UAL), American Airlines (AAL), and Southwest Airlines (LUV) are all up more than +3%.
Energy stocks and service providers are trading higher with today’s continued sell-off in crude oil prices. Occidental Petroleum (OXY), Valero (VLO), and Marathon Petroleum (MPC) are all up more than +2%.
Astera Labs (ALAB), CoreWeave (CRWV), Nebius Group (NBIS), Rocket Lab (RKLB), and Teradyn (TER) are seeing support today after Nasdaq announced on Thursday that those stocks will join the Nasdaq 100 Index, effective at the market open on June 22. Stocks leaving the Nasdaq 100 include Charter Communications (CHTR), Cognizant Technology Solutions (CTSH), Insmed (INSM), Verisk Analytics (VRSK), and Zscaler (ZS).
Travelers (TRV) is seeing downward pressure after Barclays cut its rating on the stock to underweight from equal-weight due to a downbeat outlook for profits in the property and casualty sector.
Earnings Reports(6/12/2026)
America's Car-Mart Inc/TX (CRMT), Atlantic International Corp (ATLN), Friedman Industries Inc (FRD), Liberty Live Holdings Inc (LLYVA), Pioneer Bancorp Inc/NY (PBFS), Richtech Robotics Inc (RR), Seneca Foods Corp (SENEB), Whitestone REIT (WSR).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks See Support from Hopes for a Near-term US-Iran Peace Agreement

The S&P 500 Index ($SPX) (SPY) on Thursday closed up +1.75%, the Dow Jones Industrial Average ($DOWI) (DIA) closed up +1.86%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +3.29%. June E-mini S&P futures (ESM26) rose +1.73%, and June E-mini Nasdaq futures (NQM26) rose +3.26%.
Stock indexes settled sharply higher on Thursday, after geopolitical risks eased when President Trump canceled planned strikes on Iran and signaled that a peace deal to end the war was imminent. Chipmakers and other AI-related stocks rallied on Thursday, leading the broader market higher. Also, Thursday’s -2% plunge in WTI crude oil sparked a rally in airline stocks and cruise line operators. However, software stocks retreated on Thursday, led by an -8% slump in Oracle after it reported higher-than-expected capital expenses, driven by increased data spending.
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Stocks raced to their highs Thursday afternoon when President Trump said he canceled planned military strikes against Iran, citing "discussions" with Iranian leadership. He added that a "time and place of the signing" of a negotiated end to the war would "be announced shortly," and the US naval blockade of the Strait of Hormuz "will remain in full force and effect until this transaction is finalized."
Stocks were initially weighed down on Thursday amid concerns about the escalation of Middle East hostilities after President Trump said the US will be hitting Iran very hard tonight and will "at some point" take control of Kharg Island, Iran's key export hub, thus taking control of Iran's oil and gas markets.
Stocks were also pressured by Thursday’s US economic reports, which showed that weekly US jobless claims unexpectedly rose to a 4-month high and that May producer prices were mixed.
Late Wednesday, President Trump said the US will continue bombing Iran if it refuses to agree to an interim peace deal. Mr. Trump ordered multiple strikes on Iranian targets on Wednesday, and Iran retaliated by firing on US bases in Kuwait, Bahrain, and Jordan. The increase in tensions risks derailing peace talks between Iran and the US, thus keeping the Strait of Hormuz closed, and further tightening global energy supplies.
US weekly initial unemployment claims unexpectedly rose +4,000 to a 4-month high of 229,000, showing a weaker labor market than expectations of a decline to 220,000.
US May PPI final demand rose +1.1% m/m and +6.5% y/y, stronger than expectations of +0.7% m/m and +6.4% y/y, with the +6.5% y/y gain being the largest year-on-year increase in 3.5 years. However, May PI ex food and energy rose +0.4% m/m and +4.9% y/y, weaker than expectations of +0.5% m/m and +5.4% y/y.
WTI crude oil prices (CLN26) are extremely volatile, whipsawing higher and lower several times on Thursday. Crude prices today initially gave up an overnight advance of more than +2% and fell more than -2% after President Trump said he canceled planned strikes on Iran and that a peace deal to end the war was imminent. Crude prices initially rallied more than +2% on Thursday when President Trump said the US would keep attacking Iran and threatened to seize the Kharg Island oil terminal, Iran’s main crude exporting hub.
The markets are discounting a 0% chance of a +25 bp rate hike at the next FOMC meeting on June 16-17.
Overseas stock markets settled mixed on Thursday. The Euro Stoxx 50 closed up +0.78%. China's Shanghai Composite closed down -0.16%. Japan's Nikkei Stock Average recovered from a 2.5-week low and closed up +0.06%.
Interest Rates
September 10-year T-notes (ZNU6) on Thursday closed up +17 ticks, and the 10-year T-note yield fell -9.3 bp to 4.459%. T-notes rallied on Thursday after US weekly jobless claims unexpectedly rose to a 4-month high and May producer prices ex-food and energy rose less than expected, dovish factors for Fed policy. T-notes also garnered support on Thursday from the -2% fall in WTI crude oil prices, which lowered inflation expectations. The 10-year breakeven inflation rate fell to a 2.5-month low of 2.303% on Thursday.
Gains in T-notes were limited after stocks rallied sharply, which curbed safe-haven demand for government debt securities. Also, slack demand for the Treasury’s $22 billion auction of 30-year T-bonds was negative for T-notes, as the auction had a bid-to-cover ratio of 2.33, below the 10-auction average of 2.39.
European government bond yields moved lower on Thursday. The 10-year German Bund yield fell from a 2.5-week high of 3.091% and finished down -4.5 bp to 3.032%. The 10-year UK gilt yield fell -2.6 bp to 4.905%.
The ECB, as expected, raised the deposit facility rate by +25 bp to 2.25% from 2.00% and said, "The outlook remains uncertain, with upside risks for inflation and downside risks for economic growth."
The ECB cut its 2026 Eurozone GDP estimate to +0.8% from a previous estimate of +0.9% and raised its 2026 Eurozone inflation ex-food and energy forecast to +2.5% from a previous forecast of +2.3%.
Swaps are discounting a 62% chance of a +25 bp ECB rate hike at its next policy meeting on July 23.
US Stock Movers
Chipmakers and AI-infrastructure stocks rallied sharply on Thursday amid signs that AI spending is continuing after Oracle reported quarterly capital expenditures that were higher than expected, driven by increased data center spending. Sandisk (SNDK) closed up more than +14% to lead gainers in the S&P 500 and Nasdaq 100, and KLA Corp (KLAC) closed up more than +13%. Also, Lam Research (LRCX) closed up more than +12%, and Applied Materials (AMAT), ARM Holdings Plc (ARM), Marvell Technology (MRVL), and Micron Technology (MU) closed up more than +11%. In addition, Intel (INTC) and ASML Holding NV (ASML) closed up more than +9%, and Advanced Micro Devices (AMD) and Western Digital (WDC) closed up more than +7%. Finally, Seagate Technology Holdings Plc (STX), NXP Semiconductors NV (NXPI), and Qualcomm (QCOM) closed up more than +6%, and Microchip Technology (MCHP) and Texas Instruments (TXN) closed up more than +5%.
Airline stocks and cruise line operators moved sharply higher on Thursday after WTI crude oil fell more than -2%, lowering fuel costs and boosting the companies’ profitability prospects. Alaska Air Group (ALK) closed up more than +11%, and United Airlines Holdings (UAL) and American Airlines Group (AAL) closed up more than +9%. Also, Carnival (CCL) closed up more than +8%, and Southwest Airlines (LUV) and Royal Caribbean Cruises (RCL) closed up more than +7%. In addition, Norwegian Cruise Line Holdings (NCLH) and Delta Air Lines (DAL) closed up more than +6%.
Cryptocurrency-exposed stocks moved higher on Thursday as Bitcoin (^BTCUSD) rose more than +3%. Galaxy Digital Holdings (GLXY) closed up more than +10%, and Riot Platforms (RIOT) closed up more than +8%. Also, MARA Holdings (MARA) closed up more than +7%, Coinbase Global (COIN) closed up more than +4%, and Strategy (MSTR) closed up more than +3%.
Software stocks are under pressure today, limiting gains in the overall market, with Oracle (ORCL) down more than -8% to lead losers in the S&P 500 after forecasting full-year capital spending of $70 billion, $20-25 billion higher than expected due to prepayment for some components. Also, Autodesk (ADSK) closed down more than -7% to lead losers in the Nasdaq 100, and Adobe Systems (ADBE) closed down more than -6%. In addition, Workday (WDAY) closed down more than -5%, and Salesforce (CRM) closed down more than -2% to lead losers in the Dow Jones Industrials. Finally, ServiceNow (NOW), Atlassian Corp (TEAM), and Intuit (INTU) closed down more than -2%, and Microsoft (MSFT) closed down more than -1%.
Energy stocks and service providers slumped on Thursday after WTI crude oil fell more than -2%. Devon Energy (DVN) closed down more than -4%, and ConocoPhillips (COP) and APA Corp (APA) closed down more than -3%. Also, Chevron (CVX), Diamondback Energy (FANG), Exxon Mobil (XOM), and Occidental Petroleum (OXY) closed down more than -2%.
Voyager Technologies (VOYG) closed up more than +16% after BTIG initiated coverage on the stock with a buy recommendation and a price target of $55.
Navan (NAVN) closed up more than +9% after raising its full-year revenue forecast to $907 million-$913 million from a previous estimate of $866 million-$874 million, well above the consensus of $871.7 million.
Eaton Corp Plc (ETN) closed up more than +5% after agreeing to merge its mobility business with Dana Inc in a deal valuing the combined company at roughly $10 billion, including debt.
Allegion Plc (ALLE) closed up more than +3% after Longbow Research upgraded the stock to buy from neutral with a price target of $165.
Earnings Reports(6/12/2026)
America's Car-Mart Inc/TX (CRMT), Atlantic International Corp (ATLN), Friedman Industries Inc (FRD), Liberty Live Holdings Inc (LLYVA), Pioneer Bancorp Inc/NY (PBFS), Richtech Robotics Inc (RR), Seneca Foods Corp (SENEB), Whitestone REIT (WSR).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Settle Sharply Higher on Middle East Peace Hopes

The S&P 500 Index ($SPX) (SPY) today is up +0.03%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.42%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.37%. June E-mini S&P futures (ESM26) are up +0.03%, and June E-mini Nasdaq futures (NQM26) are up +0.40%.
Stock indexes are moving higher today, as chipmakers and other AI-related stocks climb to lift the broader market and recover some of Wednesday’s sharp losses. However, software stocks are on the defensive today, led by an -11% slump in Oracle after it reported higher-than-expected capital expenses, driven by increased data spending.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Stocks are being undercut as crude oil prices erased early losses and whipsawed higher on concerns about the escalation of Middle East hostilities after President Trump said the US will be hitting Iran very hard tonight and will "at some point" take control of Kharg Island, Iran's key export hub, thus taking control of Iran's oil and gas markets.
Stocks are also pressured by today’s US economic reports, which showed that weekly US jobless claims unexpectedly rose to a 4-month high and that May producer prices were mixed.
Late Wednesday, President Trump said the US will continue bombing Iran if it refuses to agree to an interim peace deal. Mr. Trump ordered multiple strikes on Iranian targets on Wednesday, and Iran retaliated by firing on US bases in Kuwait, Bahrain, and Jordan. The increase in tensions risks derailing peace talks between Iran and the US, thus keeping the Strait of Hormuz closed, and further tightening global energy supplies.
US weekly initial unemployment claims unexpectedly rose +4,000 to a 4-month high of 229,000, showing a weaker labor market than expectations of a decline to 220,000.
US May PPI final demand rose +1.1% m/m and +6.5% y/y, stronger than expectations of +0.7% m/m and +6.4% y/y, with the +6.5% y/y gain being the largest year-on-year increase in 3.5 years. However, May PI ex food and energy rose +0.4% m/m and +4.9% y/y, weaker than expectations of +0.5% m/m and +5.4% y/y.
WTI crude oil prices (CLN26) are extremely volatile, whipsawing higher and lower several times today. Crude prices today initially gave up an overnight advance of more than +2% and fell more than -1% as concerns over the escalation of the US-Iran conflict eased after the US ended strikes against Iran. However, prices then rallied more than +1% again when President Trump said the US would keep attacking Iran and threatened to seize the Kharg Island oil terminal, Iran’s main crude exporting hub.
The markets are discounting a 3% chance of a +25 bp rate hike at the next FOMC meeting on June 16-17.
Overseas stock markets are mixed today. The Euro Stoxx 50 is up +0.89%. China's Shanghai Composite closed down -0.16%. Japan's Nikkei Stock Average recovered from a 2.5-week low and closed up +0.06%.
Interest Rates
September 10-year T-notes (ZNU6) today are up +4 ticks, and the 10-year T-note yield is down -3.0 bp to 4.523%. T-notes are moving higher today after US weekly jobless claims unexpectedly rose to a 4-month high and May producer prices ex-food and energy rose less than expected, dovish factors for Fed policy.
Gains in T-notes are limited after crude oil prices whipsawed higher after President Trump said the US will keep on attacking Iran and threatened to seize Kharg Island, Iran’s main crude exporting hub. Also, supply pressures are negative for T-notes, as the Treasury will auction $22 billion of 30-year T-bonds later today.
European government bond yields are moving lower today. The 10-year German Bund yield fell from a 2.5-week high of 3.091% and is down -4.1 bp to 3.035%. The 10-year UK gilt yield is down -2.6 bp to 4.905%.
The ECB, as expected, raised the deposit facility rate by +25 bp to 2.25% from 2.00% and said, "The outlook remains uncertain, with upside risks for inflation and downside risks for economic growth."
The ECB cut its 2026 Eurozone GDP estimate to +0.8% from a previous estimate of +0.9%, and raised its 2026 Eurozone inflation ex-food and energy forecast to +2.5% from a previous forecast of +2.3%.
Swaps are discounting a 64% chance of a +25 bp ECB rate hike at its next policy meeting on July 23.
US Stock Movers
Chipmakers and AI-infrastructure stocks are moving higher today on signs that AI spending is continuing after Oracle reported quarterly capital expenditures that were higher than expected, driven by increased data center spending. KLA Corp (KLAC) is up more than +8% to lead gainers in the S&P 500 and Nasdaq 100, and Applied Materials (AMAT), Intel (INTC), Lam Research (LRCX), and Sandisk (SNDK) are up more than +6%. Also, ARM Holdings Plc (ARM) is up more than +5%, and ASML Holding NV (ASML) is up more than +4%. In addition, Marvell Technology (MRVL), Seagate Technology Holdings Plc (STX), Advanced Micro Devices (AMD), and Analog Devices (ADI) are up more than +3%, and Microchip Technology (MCHP), NXP Semiconductors NV (NXPI), Micron Technology (MU), Texas Instruments (TXN), and Western Digital (WDC) are up more than +2%.
Software stocks are under pressure today, limiting gains in the overall market, with Oracle (ORCL) down more than -11% to lead losers in the S&P 500 after forecasting full-year capital spending of $70 billion, $20-25 billion higher than expected due to prepayment for some components. Also, Adobe Systems (ADBE) is down more than -5% to lead losers in the Nasdaq 100, and Salesforce (CRM) is down more than -3% to lead losers in the Dow Jones Industrials. In addition, ServiceNow (NOW), Atlassian Corp (TEAM), Autodesk (ADSK), Intuit (INTU), and Workday (WDAY) are down more than -3%, and Microsoft (MSFT) is down more than -2%.
Navan (NAVN) is up more than +12% after raising its full-year revenue forecast to $907 million-$913 million from a previous estimate of $866 million-$874 million, well above the consensus of $871.7 million.
Voyager Technologies (VOYG) is up more than +11% after BTIG initiated coverage on the stock with a buy recommendation and a price target of $55.
Allegion Plc (ALLE) is up more than +1% after Longbow Research upgraded the stock to buy from neutral with a price target of $165.
Eaton Corp Plc (ETN) is up more than +1% after agreeing to merge its mobility business with Dana Inc in a deal valuing the combined company at roughly $10 billion, including debt.
PDD Holdings (PDD) is down more than -2% after China’s State Administration for Market Regulation summoned the country’s leading e-commerce companies over misleading promotions and false advertising.
Earnings Reports(6/11/2026)
Adobe Inc (ADBE), Lennar Corp (LEN), RH (RH).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Supported by a Rebound in Chipmakers and AI Stocks

The S&P 500 Index ($SPX) (SPY) today is up +0.20%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.43%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.53%. June E-mini S&P futures (ESM26) are up +0.29%, and June E-mini Nasdaq futures (NQM26) are up +0.60%.
Stock indexes are moving higher today, as chipmakers and other AI-related stocks climb to lift the broader market and recover some of Wednesday’s sharp losses. However, software stocks are on the defensive today, led by a -10% slump in Oracle after it reported higher-than-expected capital expenses, driven by increased data spending.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Stocks are being undercut as crude oil prices erased early losses and whipsawed higher on concerns about the escalation of Middle East hostilities after President Trump said the US will be hitting Iran very hard tonight and will "at some point" take control of Kharg Island, Iran's key export hub, thus taking control of Iran's oil and gas markets.
Stocks were also pressured by today’s US economic reports, which showed that weekly US jobless claims unexpectedly rose to a 4-month high and that May producer prices were mixed.
Late Wednesday, President Trump said the US will continue bombing Iran if it refuses to agree to an interim peace deal. Mr. Trump ordered multiple strikes on Iranian targets on Wednesday, and Iran retaliated by firing on US bases in Kuwait, Bahrain, and Jordan. The increase in tensions risks derailing peace talks between Iran and the US, thus keeping the Strait of Hormuz closed, and further tightening global energy supplies.
US weekly initial unemployment claims unexpectedly rose +4,000 to a 4-month high of 229,000, showing a weaker labor market than expectations of a decline to 220,000.
US May PPI final demand rose +1.1% m/m and +6.5% y/y, stronger than expectations of +0.7% m/m and +6.4% y/y, with the +6.5% y/y gain being the largest year-on-year increase in 3.5 years. However, May PI ex food and energy rose +0.4% m/m and +4.9% y/y, weaker than expectations of +0.5% m/m and +5.4% y/y.
WTI crude oil prices (CLN26) are extremely volatile, whipsawing higher and lower several times today. Crude prices today initially gave up an overnight advance of more than +2% and fell more than -1% as concerns over the escalation of the US-Iran conflict eased after the US ended strikes against Iran. However, prices then rallied more than +1% again when President Trump said the US would keep attacking Iran and threatened to seize the Kharg Island oil terminal, Iran’s main crude exporting hub.
The markets are discounting a 3% chance of a +25 bp rate hike at the next FOMC meeting on June 16-17.
Overseas stock markets are mixed today. The Euro Stoxx 50 is up +0.41%. China's Shanghai Composite closed down -0.16%. Japan's Nikkei Stock Average recovered from a 2.5-week low and closed up +0.06%.
Interest Rates
September 10-year T-notes (ZNU6) today are up +4 ticks, and the 10-year T-note yield is down -2.2 bp to 4.530%. T-notes are moving higher today after US weekly jobless claims unexpectedly rose to a 4-month high and May producer prices ex-food and energy rose less than expected, dovish factors for Fed policy.
Gains in T-notes are limited after crude oil prices whipsawed higher after President Trump said the US will keep on attacking Iran and threatened to seize Kharg Island, Iran’s main crude exporting hub. Also, supply pressures are negative for T-notes, as the Treasury will auction $22 billion of 30-year T-bonds later today.
European government bond yields are moving lower today. The 10-year German Bund yield fell from a 2.5-week high of 3.091% and is down -2.8 bp to 3.048%. The 10-year UK gilt yield is down -1.2 bp to 4.919%.
The ECB, as expected, raised the deposit facility rate by +25 bp to 2.25% from 2.00% and said, "The outlook remains uncertain, with upside risks for inflation and downside risks for economic growth."
The ECB cut its 2026 Eurozone GDP estimate to +0.8% from a previous estimate of +0.9%, and raised its 2026 Eurozone inflation ex-food and energy forecast to +2.5% from a previous forecast of +2.3%.
Swaps are discounting a 70% chance of a +25 bp ECB rate hike at its next policy meeting on July 23.
US Stock Movers
Chipmakers and AI-infrastructure stocks are moving higher today on signs that AI spending is continuing after Oracle reported quarterly capital expenditures that were higher than expected, driven by increased data center spending. Intel (INTC) is up more than +8% to lead gainers in the S&P 500 and Nasdaq 100, and Applied Materials (AMAT) and Lam Research (LRCX) are up more than +6%. Also, KLA Corp (KLAC) and Sandisk (SNDK) are up more than +4%, and ARM Holdings Plc (ARM), ASML Holding NV (ASML), and Marvell Technology (MRVL) are up more than +3%. In addition, Advanced Micro Devices (AMD) and Microchip Technology (MCHP) are up more than +2%.
Software stocks are under pressure today, limiting gains in the overall market, with Oracle (ORCL) down more than -10% to lead losers in the S&P 500 after forecasting full-year capital spending of $70 billion, $20-25 billion higher than expected due to prepayment for some components. Also, Atlassian Corp (TEAM) and ServiceNow (NOW) are down more than -3%. Salesforce (CRM) is down more than -2% to lead losers in the Dow Jones Industrials. In addition, Adobe Systems (ADBE) and Workday (WDAY) are down more than -2%, and Microsoft (MSFT), Intuit (INTU), and Autodesk (ADSK) are down more than -1%.
Navan (NAVN) is up more than +16% after raising its full-year revenue forecast to $907 million-$913 million from a previous estimate of $866 million-$874 million, well above the consensus of $871.7 million.
Voyager Technologies (VOYG) is up more than +10% after BTIG initiated coverage on the stock with a buy recommendation and a price target of $55.
Allegion Plc (ALLE) is up more than +2% after Longbow Research upgraded the stock to buy from neutral with a price target of $165.
Eaton Corp Plc (ETN) is up more than +1% after agreeing to merge its mobility business with Dana Inc in a deal valuing the combined company at roughly $10 billion, including debt.
PDD Holdings (PDD) is down more than -3% to lead losses in the Nasdaq 100 after China’s State Administration for Market Regulation summoned the country’s leading e-commerce companies over misleading promotions and false advertising.
Earnings Reports(6/11/2026)
Adobe Inc (ADBE), Lennar Corp (LEN), RH (RH).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Edge Higher as Chipmakers and AI Stocks Rebound

Key Points
Intuit has delivered double-digit percentage revenue growth for several years while providing high profit margins.
The stock has tumbled by more than 50% year to date as investors worry that AI is going to supplant its key products.
If you looked at Intuit's (NASDAQ: INTU) 51% year-to-date drop without any context, it would be easy to assume that the company's fundamentals have deteriorated substantially. Or you might assume that the company's valuation had previously climbed to too lofty a level, and that it had undergone a necessary correction.
However, neither of those things is the case. Intuit is still gaining market share and has high profit margins. And in the wake of its decline, it has an 18.5 price-to-earnings (P/E) ratio. Its valuation hasn't been this low in more than a decade.
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Focus on fundamentals over stock price movements
The stock looks attractive when you combine strengthening fundamentals with a share price that continues to plummet. This mismatch came about because of concerns that AI would inexpensively replace the types of software that Intuit specializes in.
The theory is that if people are able to use AI models to help them do their taxes and handle bookkeeping matters, there won't be much of a need for TurboTax or QuickBooks. Intuit's decision to cut its workforce by 17% earlier this year added to investors' worries on those fronts, but none of these concerns have yet shown up where it matters: in the company's financial results.
Intuit delivered 10% year-over-year revenue growth in its fiscal 2026 third quarter, which ended April 30. Net income also rose by 9% year over year, resulting in a 35.8% net profit margin.
Intuit's revenue is always a bit lumpy, since most of its sales come during tax season. However, it has consistently maintained double-digit percentage revenue growth rates for several years. For instance, it has a five-year compound annual revenue growth rate of 19.7%. While the fintech company's revenue growth has decelerated in recent years, a 10% growth rate does not justify a 51% year-to-date drop.
Intuit doesn't only rely on TurboTax
Revenues from TurboTax are still growing -- they were up by 7% year over year in the company's fiscal Q3 2026. Meanwhile, TurboTax Live is projected to grow by 36% year over year in fiscal 2026, and that makes up more than half of total TurboTax revenue. As this facet of the top line becomes larger, it should accelerate TurboTax's overall growth rate.
Even then, Intuit still has other growth levers. Credit Karma revenue was up by 15% year over year as consumers took out more loans. The global business solutions segment also jumped by 15% year over year.
The global business solutions segment is notable, since it made up almost 40% of Intuit's total revenue. That result prompted Intuit to raise full-year guidance to 16% year-over-year growth for the global business solutions part of the company, which includes QuickBooks and MailChimp.
Intuit's fundamentals tell a different story from its recent stock price movements. As more investors come to recognize that difference, the stock should start to reclaim some of its lost ground.
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Marc Guberti has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Intuit. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Intuit's Stock Price Plunge Represents a Golden Buying Opportunity

The S&P 500 Index ($SPX) (SPY) on Tuesday closed down -0.26%, the Dow Jones Industrial Average ($DOWI) (DIA) closed up +0.17%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -1.12%. June E-mini S&P futures (ESM26) fell -0.36%, and June E-mini Nasdaq futures (NQM26) fell -1.15%.
Stock indexes gave up an early advance on Tuesday and retreated, with the S&P 500 and Nasdaq 100 falling to 5-week lows. Chipmakers gave up an early advance on Tuesday and sold off sharply as investors rotated out of the sector, weighing on the broader market. Also, weakness in software stocks dragged on the overall market, and energy producers slid amid Tuesday’s -3% plunge in WTI crude oil prices (CLN26) to a 7-week low.
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However, home builders and suppliers rallied on Tuesday after US Apr existing home sales rose to a 5-month high. Also, airline stocks and cruise line operators moved higher as the slump in crude prices on Tuesday lowered fuel costs and boosted the companies’ profitability prospects.
Tuesday’s US economic news was supportive for stocks, as the Apr trade deficit eased to -$55.9 billion from -$56.6 billion in Mar, narrower than the -$56.1 billion expected. Also, May existing home sales rose +3.2% m/m to a 5-month high of 4.17 million, stronger than expectations of 4.07 million.
Crude oil prices sank on Tuesday to a 7-week low after Iran and Israel agreed to end hostilities toward each other. President Trump on Tuesday predicted a swift end to war with Iran and a subsequent fall in oil prices and said, “We’re in the final throes of what will be a very, very good deal, and that they could have at least an idea one or two days from now” about the deal. However, crude price bounced off its low and stocks added to their losses Tuesday afternoon when President Trump blamed Iran for shooting down a US military helicopter and said the US would respond, reigniting fears that the US-Iran peace plan is in peril and the Strait of Hormuz will remain closed, further tightening global oil supplies.
China trade news was better than expected, a positive factor for global economic growth. May exports rose +19.4% y/y, stronger than expectations of +15.0% y/y. Also, May imports rose +27.4% y/y, stronger than expectations of +26.0% y/y.
The markets are discounting a 3% chance of a +25 bp rate hike at the next FOMC meeting on June 16-17.
Overseas stock markets settled mixed on Tuesday. The Euro Stoxx 50 fell from a 1.5-week high and closed down -0.21%. China's Shanghai Composite closed up +1.28%. Japan's Nikkei Stock Average closed up +2.17%.
Interest Rates
September 10-year T-notes (ZNU6) on Tuesday closed up +6 ticks, and the 10-year T-note yield fell -3.6 bp to 4.526%. Sep T-note prices rose on Tuesday amid a -3% plunge in WTI crude oil prices, which eased inflation expectations. The 10-year breakeven inflation rate fell to a 2-month low of 2.337% on Tuesday. Also, Tuesday’s stock sell-off boosted safe-haven demand for T-notes.
Tuesday’s stronger-than-expected US May existing home sales report limited gains in T-notes. Also, so-so demand for the Treasury’s $58 billion auction of 3-year T-notes was negative for T-notes, as the bid-to-cover ratio was 2.64, below the 10-auction average of 2.65.
European government bond yields moved lower on Tuesday. The 10-year German Bund yield fell -1.8 bp to 3.043%. The 10-year UK gilt yield fell -3.0 bp to 4.903%.
German Apr industrial production rose +0.4% m/m, right on expectations and the biggest increase in five months.
German trade news was better than expected as Apr exports unexpectedly rose +0.9% m/m, stronger than expectations of a-0.5% m/m decline. Also, Apr imports unexpectedly rose +1.2% m/m versus expectations of a -2.0% m/m decline.
Swaps are discounting a 100% chance of a +25 bp ECB rate hike at its next policy meeting on Thursday.
US Stock Movers
Chipmakers gave up an early advance today and turned lower, weighing on the broader market. Marvell Technology (MRVL) closed down more than -10% to lead losers in the Nasdaq 100, and Qualcomm (QCOM) and ARM Holdings Plc (ARM) closed down more than -7%. Also, Advanced Micro Devices (AMD) and Micron Technology (MU) closed down more than -4%, andIntel (INTC) closed down more than -3%. In addition, NXP Semiconductors NV (NXPI) closed down more than -2%, and Broadcom (AVGO) and Texas Instruments (TXN) closed down more than -1%.
Software stocks retreated on Tuesday, weighing on the overall market. ServiceNow (NOW) closed down more than -6%, and Salesforce (CRM) closed down more than -4% to lead losers in the Dow Jones Industrials. Also, Intuit (INTU), Oracle (ORCL), and Palantir Technologies (PLTR) closed down more than -3%, and Workday (WDAY), Atlassian Corp (TEAM), and Adobe Systems (ADBE) closed down more than -2%. In addition, Microsoft (MSFT) and Datadog (DDOG) closed down more than -1%.
Energy producers and service providers slid on Tuesday as WTI crude oil fell more than -3% to a 7-week low. APA Corp (APA), Marathon Petroleum (MPC), Phillips 66 (PSX), Devon Energy (DVN), Halliburton (HAL), and Diamondback Energy (FANG) closed down more than -2%. Also, Baker Hughes (BKR), Chevron (CVX), Exxon Mobil (XOM), Valero Energy (VLO), ConocoPhillips (COP), Occidental Petroleum (OXY), and SLB Ltd (SLB) closed down more than -1%.
Airline stocks and cruise line operators rallied on Tuesday as WTI crude oil fell more than 3% to a 7-week low, lowering the companies’ fuel costs and boosting profitability prospects. Alaska Air Group (ALK) closed up more than +6%, and Southwest Airlines (LUV) closed up more than +5%. Also, United Airlines Holdings (UAL) closed up more than +4%, and American Airlines Group (AAL), Delta Air Lines (DAL), and Royal Caribbean Cruises (RCL) closed up more than +3%. In addition, Carnival (CCL) and Norwegian Cruise Line Holdings (NCLH) closed up more than +2%.
Homebuilders and building suppliers moved higher on Tuesday after US May existing home sales rose more than expected to a 5-month high. Builders Firstsource (BLDR) closed up more than +6%, and Toll Brothers (TOL) closed up more than +5%. Also, DR Horton (DHI) and Pulte Group (PHM) closed up more than +4%, and Home Depot (HD) closed up more than +3% to lead gainers in the Dow Jones Industrials. In addition, KB Home (KBH) closed up more than +3%, and Lennar (LEN) closed up more than +1%.
SailPoint (SAIL) closed down more than -11% after forecasting Q2 adjusted EPS of 7 cents to 8 cents, the midpoint below the consensus of 7.9 cents.
United Natural Foods (UNFI) closed down more than -10% after reporting Q3 net sales of $7.72 billion, weaker than the consensus of $7.80 billion, and forecasting full-year net sales of $31.10 billion to $31.30 billion, below the consensus of $31.32 billion.
Vail Resorts (MTN) closed down more than -4% after reporting Q3 EPS of $8.81, weaker than the consensus of $9.00.
Novanta (NOVT) closed down more than -2% after agreeing to acquire Riverpoint Medical from Arlington Capital for $1.2 billion in cash.
Nuvalent (NUVL) closed up more than +39% after GSK Plc agreed to buy the company for $10.6 billion, or about $124 a share.
J M Smucker (SJM) closed up more than +10% to lead gainers in the S&P 500 after reporting Q4 adjusted EPS of $2.77, better than the consensus of $2.64, and forecasting 2027 adjusted EPS of $9.75 to $10.25, the midpoint above the consensus of $9.78.
West Pharmaceutical Services (WST) closed up more than +4% after Barclays upgraded the stock to overweight from equal weight with a price target of $400.
Applied Digital (APLD) closed up more than +2% after signing a 15-year take-or-pay lease with a US-based artificial intelligence hyperscaler for 210 megawatts of IT load at its Delta Forge 2 campus.
Earnings Reports(6/10/2026)
Chewy Inc (CHWY), Core & Main Inc (CNM), Oracle Corp (ORCL).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Broader Market Pressured as Chip Stocks Sink

The S&P 500 Index ($SPX) (SPY) today is down -0.28%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.19%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.80%. June E-mini S&P futures (ESM26) are down -0.25%, and June E-mini Nasdaq futures (NQM26) are down -0.74%.
Stock indexes gave up an early advance today and are trading mixed, with the S&P 500 falling to a 2.5-week low. Chipmakers gave up an early advance today and turned lower, weighing on the broader market. Also, weakness in software stocks is a drag on the overall market, and energy producers are sliding with today’s -3% plunge in WTI crude oil prices (CLN26) to a 1-week low.
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Today’s US economic news was supportive for stocks, as the Apr trade deficit eased to -$55.9 billion from -$56.6 billion in Mar, narrower than the -$56.1 billion expected. Also, May existing home sales rose +3.2% m/m to a 5-month high of 4.17 million, stronger than expectations of 4.07 million.
Crude oil prices are sinking today and posted a 1-week low after Iran and Israel agreed to end hostilities toward each other. President Trump today predicted a swift end to war with Iran and a subsequent fall in oil prices and said, “We’re in the final throes of what will be a very, very good deal, and that they could have at least an idea one or two days from now” about the deal.
China trade news was better than expected, a positive factor for global economic growth. May exports rose +19.4% y/y, stronger than expectations of +15.0% y/y. Also, May imports rose +27.4% y/y, stronger than expectations of +26.0% y/y.
The markets are discounting a 3% chance of a +25 bp rate hike at the next FOMC meeting on June 16-17.
Overseas stock markets are higher today. The Euro Stoxx 50 climbed to a 1.5-week high and is up +0.52%. China's Shanghai Composite closed up +1.28%. Japan's Nikkei Stock Average closed up +2.17%.
Interest Rates
September 10-year T-notes (ZNU6) today are up +3 ticks, and the 10-year T-note yield is down -2.2 bp to 4.540%. Sep T-note prices are modestly higher today amid a -3% plunge in WTI crude oil prices, which eased inflation expectations. The 10-year breakeven inflation rate fell to a 7-week low of 2.348% today.
Today’s stronger-than-expected US May existing home sales report is limiting gains in T-notes. Also, supply pressures are negative for T-notes, as the Treasury will auction $58 billion in 3-year T-notes later today.
European government bond yields are moving lower today. The 10-year German Bund yield is down -0.9 bp to 3.052%. The 10-year UK gilt yield is down -3.0 bp to 4.9134%.
German Apr industrial production rose +0.4% m/m, right on expectations and the biggest increase in five months.
German trade news was better than expected as Apr exports unexpectedly rose +0.9% m/m, stronger than expectations of a-0.5% m/m decline. Also, Apr imports unexpectedly rose +1.2% m/m versus expectations of a -2.0% m/m decline.
Swaps are discounting a 100% chance of a +25 bp ECB rate hike at its next policy meeting on Thursday.
US Stock Movers
Chipmakers gave up an early advance today and turned lower, weighing on the broader market. Marvell Technology (MRVL) is down more than -7% to lead losers in the Nasdaq 100, and Qualcomm (QCOM) is down more than -6%. Also, ARM Holdings Plc (ARM) is down more than -5%, and Advanced Micro Devices (AMD), Broadcom (AVGO), and Micron Technology (MU) are down more than -2%. In addition, Nvidia (NVDA), Intel (INTC), and Texas Instruments (TXN) are down more than -1%.
Software stocks are retreating today, weighing on the overall market. ServiceNow (NOW) is down more than -5%, and Workday (WDAY) is down more than -4%. Also, Salesforce (CRM) is down more than -3% to lead losers in the Dow Jones Industrials, and Atlassian Corp (TEAM), Adobe Systems (ADBE), and Palantir Technologies (PLTR) are down more than -2%. In addition, Microsoft (MSFT), Intuit (INTU), Datadog (DDOG), and Oracle (ORCL) are down more than -1%.
Energy producers and service providers are sliding today with WTI crude oil down more than -3% at a 1-week low. APA Corp (APA) is down more than -4%, and Valero Energy (VLO) is down more than -3%. Also, Devon Energy (DVN), ConocoPhillips (COP), Halliburton (HAL), Baker Hughes (BKR), Occidental Petroleum (OXY), Phillips 66 (PSX), Exxon Mobil (XOM), Diamondback Energy (FANG), and Marathon Petroleum (MPC) are down more than -2%.
Airline stocks and cruise line operators are moving higher today with WTI crude oil down more than -3% at a 1-week low, which lowers the companies’ fuel costs and boosts profitability prospects. Alaska Air Group (ALK) is up more than +4%, and American Airlines Group (AAL) is up more than +3%. Also, United Airlines Holdings (UAL), Delta Air Lines (DAL), Royal Caribbean Cruises (RCL), Southwest Airlines (LUV), Carnival (CCL), and Norwegian Cruise Line Holdings (NCLH) are up more than +2%.
United Natural Foods (UNFI) is down more than -12% after reporting Q3 net sales of $7.72 billion, weaker than the consensus of $7.80 billion, and forecast full-year net sales of $31.10 billion to $31.30 billion, below the consensus of $31.32 billion.
SailPoint (SAIL) is down more than -11% after forecasting Q2 adjusted EPS of 7 cents to 8 cents, the midpoint below the consensus of 7.9 cents.
Novanta (NOVT) is down more than -5% after agreeing to acquire Riverpoint Medical from Arlington Capital for $1.2 billion in cash.
Vail Resorts (MTN) is down more than -4% after reporting Q3 EPS of $8.81, weaker than the consensus of $9.00.
Nuvalent (NUVL) is up more than +38% after GSK Plc agreed to buy the company for $10.6 billion, or about $124 a share.
J M Smucker (SJM) is up more than +11% to lead gainers in the S&P 500 after reporting Q4 adjusted EPS of $2.77, better than the consensus of $2.64, and forecasting 2027 adjusted EPS of $9.75 to $10.25, the midpoint above the consensus of $9.78.
Applied Digital (APLD) is up more than +3% after signing a 15-year take-or-pay lease with a US-based artificial intelligence hyperscaler for 210 megawatts of IT load at its Delta Forge 2 campus.
West Pharmaceutical Services (WST) is up more than +3% after Barclays upgraded the stock to overweight from equal weight with a price target of $400.
Earnings Reports(6/9/2026)
Casey's General Stores Inc (CASY), J M Smucker Co/The (SJM), SailPoint Inc (SAIL).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Erase Early Gains as Chipmakers Turn Lower

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Vanguard Information Technology ETF (Symbol: VGT) where we have detected an approximate $760.6 million dollar inflow -- that's a 0.5% increase week over week in outstanding units (from 1,210,287,937 to 1,216,481,563). Among the largest underlying components of VGT, in trading today Intuit Inc (Symbol: INTU) is off about 1.7%, Synopsys Inc (Symbol: SNPS) is down about 3.1%, and Cadence Design Systems Inc (Symbol: CDNS) is lower by about 5.2%. For a complete list of holdings, visit the VGT Holdings page » The chart below shows the one year price performance of VGT, versus its 200 day moving average:
Looking at the chart above, VGT's low point in its 52 week range is $77.6677 per share, with $126 as the 52 week high point — that compares with a last trade of $118.91. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Further VGT Research:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Noteworthy ETF Inflows: VGT, INTU, SNPS, CDNS

For Immediate Release
Chicago, IL – June 4, 2026 – Stocks in this week’s article Adobe ADBE, H&R Block HRB, Global-E Online GLBE, Autodesk ADSK and Intuit INTU.
Bet on 5 Top-Ranked Stocks with Rising P/Es for a Strong Portfolio
Investors often opt for the stock-picking approach that involves stocks with a low price-to-earnings (P/E) ratio. This strategy is based on the notion that the lower the P/E ratio is, the higher the stock value. The reasoning behind this is straightforward — when a stock's current market price does not adequately reflect its higher earnings, it suggests potential for growth.
But there is more to this whole P/E story. Because not only low P/E, stocks with a rising P/E can also fetch strong returns. In this regard, investors can bet on the likes of Adobe, H&R Block, Global-E Online, Autodesk and Intuit.
Rising P/E: A Useful Tool
The concept is that as earnings rise, so should the price of the stock. As forecasts for expected earnings come in higher, strong demand for the stock should continue to push up its prices. After all, a stock's P/E gives an indication of how much investors are ready to shell out per dollar of earnings.
Suppose an investor wants to buy a stock with a P/E ratio of 30. This means that he is willing to shell out $30 for only $1 worth of earnings as he expects earnings of the company to rise at a faster pace in the future owing to strong fundamentals.
So, if the P/E of a stock is rising steadily, it means that investors are assured of its inherent strength and expect some strong positives out of it.
Also, studies have revealed that stocks have seen their P/E ratios jump over 100% from their breakout point in the cycle. So, if you can pick stocks early in their breakout cycle, you can end up seeing considerable gains.
Just these few criteria narrowed down the universe from over 7,700 stocks to just 65.
Here are five out of the 65 stocks:
Adobe: This leading technology company, currently with a Zacks Rank #2 (Buy),offers a personalized digital experience through the infusion of artificial intelligence (AI) in its solutions. You can see the complete list of today’s Zacks #1 Rank stocks here.
The average four-quarter earnings surprise of ADBE is 2.46%.
H&R Block: The Zacks Rank #1 company is a leading provider of tax preparation services.
The average four-quarter earnings surprise of HRB is 1.75%.
Global-E Online: The Zacks Rank #2 company provides a platform to enable and accelerate global, direct-to-consumer cross-border e-commerce.
The average four-quarter earnings surprise of GLBE is 56.95%.
Autodesk: The Zacks Rank #2 develops model-based design, engineering and documentation software. The company serves customers in architecture, engineering and construction; product design and manufacturing; and digital media and entertainment industries.
The average four-quarter earnings surprise of ADSK is 7.07%.
Intuit: The Zacks Rank #2 business and financial software company develops and sells financial, accounting and tax preparation software, and related services for small businesses, consumers and accounting professionals globally.
The average four-quarter earnings surprise of INTU is 6.87%.
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The S&P 500 Index ($SPX) (SPY) on Wednesday closed down -0.74%, the Dow Jones Industrial Average ($DOWI) (DIA) closed down -1.21%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.29%. June E-mini S&P futures (ESM26) fell -0.78%, and June E-mini Nasdaq futures (NQM26) fell -0.32%.
Stock indexes retreated on Wednesday, with the Nasdaq 100 falling from a new record high. The broader market was under pressure on Wednesday as the US and Iran clashed overnight, sending WTI crude oil prices up more than +2% to a 1.5-week high and putting peace plans in doubt. In addition, weakness in software companies, cybersecurity, and private credit stocks on Wednesday weighed on the overall market.
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Crude oil price jumped more than +2% on Wednesday after US forces intercepted Iranian ballistic missiles and drones aimed at neighboring Gulf states, escalating tensions and reducing chances that the Strait of Hormuz will open any time soon. The Tasnim news agency reported that Iranian Foreign Minister Abbas Araghchi said that “Communications between Iran and the US have not been cut off, but no tangible progress has been achieved in the negotiating process.”
On the positive side, AI-infrastructure spending continues to support technology stocks. Marvell Technology rose more than +3% on Wednesday, adding to Tuesday’s 32% surge, to lead chipmakers higher after Nvidia CEO Huang predicted the company would be the next to hit a $1 trillion valuation, more than five times its current market capitalization.
Signs of strength in the US economy are also supportive of stocks after Wednesday’s reports showed the May ADP employment change, the May ISM services index, and Apr factory orders rose more than expected.
The US May ADP employment change rose 122,000, slightly stronger than expectations of 120,000 and the biggest increase in 16 months.
The US May ISM services index rose +0.9 to 54.5, stronger than expectations of 53.8. The May ISM services prices paid sub-index rose +0.6 to a 3.75-year high of 71.3, although below expectations of 72.3.
US Apr factory orders rose +4.8% m/m, stronger than expectations of +4.6% m/m and the largest increase in 11 months.
US MBA mortgage applications fell -2.5% in the week ended May 29, with the purchase mortgage sub-index down -2.9% and the refinancing mortgage sub-index down -2.3%. The average 30-year fixed rate mortgage fell -8 bp to 6.57% from 6.65% in the prior week.
The Fed Beige Book was hawkish, stating slight to moderate economic growth across most Fed districts through May 27, with employment little changed and most of the 12 Fed districts reporting higher inflation than in the previous report.
New York Fed President John Williams said, "Monetary policy is exactly in the right place. I don't see any need to raise or lower interest rates right now."
The markets are discounting a 3% chance of a +25 bp rate hike at the next FOMC meeting on June 16-17.
The generally favorable Q1 earnings season is winding down. As of Wednesday, 84% of the 485 S&P 500 companies that reported Q1 earnings have beaten estimates. Q1 S&P 500 earnings are projected to climb +12% y/y, according to Bloomberg Intelligence. Stripping out the technology sector, Q1 earnings are projected to increase around +3%, the weakest in two years.
Overseas stock markets settled mixed on Wednesday. The Euro Stoxx 50 closed down -0.89%. China's Shanghai Composite closed up +0.22%. Japan's Nikkei Stock Average rallied to a new record high and closed up +2.50%.
Interest Rates
September 10-year T-notes (ZNU6) on Wednesday closed down -8 ticks, and the 10-year T-note yield rose +4.6 bp to 4.489%. T-note prices were under pressure on Wednesday amid an escalation of US-Iran tensions, which lifted WTI crude oil by more than +2% to a 1.5-week high, boosting inflation expectations. T-notes added to their losses on Wednesday after US economic reports showed the May ADP employment change, the May ISM services index, and Apr factory orders rose more than expected, hawkish factors for Fed policy. The Fed Beige Book also reported rising inflation pressures and was bearish for T-notes.
European government bond yields moved higher on Wednesday. The 10-year German Bund yield climbed to a 1.5-week high of 3.042% and finished up +6.0 bp to 3.035%. The 10-year UK gilt yield rose to a 1.5-week high of 4.939% and finished up +7.2 bp to 4.931%.
The Eurozone May S&P composite PMI was revised upward by +1.0 to 48.5 from the previously reported 47.5.
Eurozone Apr PPI rose +4.9% y/y, right on expectations and the fastest pace of increase in more than 3 years.
The UK May S&P services PMI was revised upward by +1.4 to 49.3 from the previously reported 47.9.
Swaps are discounting a 98% chance of a +25 bp ECB rate hike at its next policy meeting on June 11.
US Stock Movers
Software stocks sold off on Wednesday, pressuring the broader market. Datadog (DDOG), Atlassian Corp (TEAM), and ServiceNow (NOW) closed down more than -7%, and International Business Machines (IBM) closed down more than -6% to lead losers in the Dow Jones Industrials. Also, Palantir Technologies (PLTR) closed down more than -6%, and Oracle (ORCL) closed down more than -5%. In addition, Salesforce (CRM) closed down more than -4%, and Autodesk (ADSK) and Intuit (INTU) closed more than -3%. Finally, Microsoft (MSFT) and Adobe Systems (ADBE) closed down more than -2%, and Workday (WDAY) closed down more than -1%.
Cybersecurity stocks retreated on Wednesday, led by a -7% decline in Okta (OKTA) and a -6% decline in Zscaler (ZS). Also, Palo Alto Networks (PANW) closed down more than -5% despite reporting better-than-expected Q3 earnings, as it failed to meet elevated buy-side expectations. In addition, Cloudflare (NET) and CrowdStrike Holdings (CRWD) closed down more than -2%, and Fortinet (FTNT) closed down more than -1%.
Private credit stocks faltered on Wednesday as the 17% redemption requests for Cliffwater’s private credit fund weighed on alternative asset stocks. Carlyle Group (CG) closed down more than -4%, and Ares Management (ARES), KKR & Co (KKR), Blackstone (BX), and Blue Owl Capital (OWL) closed down more than -3%. Also, Apollo Global Management (APO) and BlackRock (BLK) closed down more than -2%.
Chipmakers and AI-infrastructure stocks rallied on Wednesday, providing support to the overall market. Sandisk (SNDK) closed up more than +6% to lead gainers in the Nasdaq 100, and Western Digital (WDC) closed up more than +5%. Also, Intel (INTC), Advanced Micro Devices (AMD), and ON Semiconductor (ON) closed up more than +4%,and Analog Devices (ADI), KLA Corp (KLAC), and Qualcomm (QCOM) closed up more than +3%. In addition, Applied Materials (AMAT), ARM Holdings Plc (ARM), and Lam Research (LRCX) closed up more than +2%.
Global Payments (GPN) closed down more than -8% after Susquehanna cut its price target on the stock to $111 from $119, noting that Middle East travel exposure will remain a “burden.”
Ulta Beauty (ULTA) closed down more than -4% after analysts noted the company’s annual guidance implies the outlook for the second half of the year is weaker than expected.
Gitlab (GTLB) closed down more than -2% after announcing that it will cut about 14% of its workforce and exit 22 countries as part of a restructuring.
Medtronic Plc (MDT) closed up more than +6% after reporting Q4 revenue of $9.81 billion, above the consensus of $9.64 billion.
GameStop (GME) closed up more than +6% after reporting Q1 net sales rose +14% y/y to $835.3 million and said its board of directors approved a $2 billion share repurchase authorization.
Meta Platforms (META) closed up more than +4% after announcing it is selling access to an artificial intelligence agent called Meta Business Agent, which will chat with a business’s customers over WhatsApp, Messenger, and Instagram.
Marvel Technology (MRVL) closed up more than +3% today, adding to Tuesday’s +32% surge, after Nvidia CEO Huang predicted that the company will be the next to hit a $1 trillion valuation, more than five times its current market capitalization.
Sherwin-Williams (SHW) closed up more than +1% after the company and Nippon Paint abandoned efforts to jointly acquire Akzo Nobel.
Earnings Reports(6/4/2026)
Brown-Forman Corp (BF/B), Ciena Corp (CIEN), Cooper Cos Inc/The (COO), Docusign Inc (DOCU), Guidewire Software Inc (GWRE), Lululemon Athletica Inc (LULU), Rubrik Inc (RBRK), Samsara Inc (IOT), Toro Co/The (TTC).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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