What’s Moving These Hot Stocks: Intuit, Schlumberger, Riverbed Tech
Intuit Inc. (NASDAQ:INTU): Total TurboTax federal units excluding Free File Alliance saw an increase of 7 percent, up to and including Wednesday which represents a 1 percent rise year-to-year. Better, TurboTax Online units increased 11 percent over the same period, and consumer tax revenue is projected to grow by that same amount during fiscal year 2012.
Schlumberger Limited’s (NYSE:SLB) spokesperson says that, “While uncertainties remain, the risk of a double-dip global recession has declined. Oil demand in 2012 appears to have stabilized, and supply continues to be limited by weak non-OPEC performance and narrow spare capacity margins. These effects should limit any oil-price decline. In the US, natural gas storage and abundant supply have led to weakening natural gas activity with little likelihood of short-term recovery. International gas prices however, remain solid, driven by strong demand. We maintain our positive view on the international markets and expect the rig count to grow by more than 10 percent in 2012 through strength in exploration and deepwater activity as well as in key land markets. In North America, we remain more cautious until the uncertainties around the dry gas drilling and pressure pumping pricing outlook become clearer. However, with a balanced land portfolio and strong deepwater leverage, we remain favorably positioned to outperform even in this market.” Schlumberger Earnings Cheat Sheet>>
Riverbed Technology, Inc. (NASDAQ:RVBD) shares implode following first quarter reports of both a revenue miss and a disappointing guidance. Analysts JPMorgan, Wedbush, Oppenheimer, and Cantor Fitzgerald are worried about Riverbed’s product transitions, sales cycles and execution, weak demand, and its integration of acquisitions; problems which could be long term in nature. This is the second successive time that shares have dropped post-earnings.
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