VSTM - Nasdaq Gains 1%; Intuit Shares Plunge | Benzinga
U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining around 1% on Friday.
The Dow traded up 0.25% to 39,163.18 while the NASDAQ rose 1.04% to 16,909.33. The S&P 500 also rose, gaining, 0.69% to 5,304.30.
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Communication services shares jumped by 1.1% on Friday.
In trading on Friday, health care shares fell by 0.1%.
Top Headline
Shares of Intuit Inc. (NASDAQ:INTU) fell around 8% on Friday following third-quarter results.
The company posted better-than-expected earnings for its third quarter and boosted its full-year outlook. However, the company issued weak earnings guidance for the current quarter.
Intuit’s third-quarter revenue increased 12% year-over-year to $6.737 billion, beating the consensus estimate of $6.647 billion. The financial technology platform company reported adjusted earnings of $9.88 per share, beating analyst estimates of $9.37 per share, according to Benzinga Pro.
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