23 May Watchlist 👀

 

Today we are watching…

1.  Intuit (#intuit)

US financials firm, Intuit, is shaping up nicely today ahead of its earnings announcement. The company’s small business segment has been absolutely cooking with subscriptions to its Quickbooks service increasing by 34% year over year. The company has also experienced strong seasonal tailwinds thanks to the US tax season which will likely affect this announcement positively. However, the only real stumbling block is increased competition in its space coming from payroll solutions firms, PAYC and Paycom software. Don’t miss this one!

2. Best Buy (#bestbuy)

Best Buy is set to post earnings today and analysts are cautiously optimistic about its chances at beating estimates. Its extensive investment in infrastructure, in-store operations and technology have placed the firm in an enviable position this quarter. Moreover, efforts to reduce costs and strengthen partnerships are expected to drive a solid performance for the company. Even though sales and general administrative costs are forecast to increase this year, Best Buy still looks set for a positive year ahead.

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