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A Taxing Time for Intuit
Shares of Intuit (INTU Quote) fell Thursday after AOL Time Warner (AOL Quote) switched to H&R Block(HRB Quote) as its primary online tax service and new numbers showed slowing growth of the company's TurboTax software.
Intuit shares closed today down $3.12, or 7.6%, to $37.76.
Data released earlier this week by Port Washington, N.Y.-based NPDTechworld, whose software transaction research covers 84% of the retail market, showed that Intuit TurboTax sales growth has slowed in recent weeks. Two Wall Street analysts on Wednesday pointed to those numbers but said Intuit sales remain strong. ...
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