Top 5 Losers Today

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1. Intuit Inc. (NASDAQ:INTU)

Number of Hedge Fund Holders: 86

Intuit Inc. (NASDAQ:INTU) managed to surpass financial expectations for its fiscal first quarter. However, it lowered its sales outlook for the full year, sending its shares marginally down in pre-market trading Wednesday.

The business software company earned $1.66 per share on an adjusted basis, beating estimates of $1.19 per share. Revenue came in at $2.6 billion, up 29 percent on a year-over-year basis and above expectations of $2.5 billion.

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Looking forward, Intuit Inc. (NASDAQ:INTU) now expects revenue in the range of $14.035 – $14.250 billion for its FY 2023. The updated guidance is below analysts’ average estimate of $14.5 billion.

You can also take a peek at 15 Biggest Fintech Companies in the World and 12 Best Consumer Staple Stocks.

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