Stocks making the biggest moves midday: Intuit, AMD, LegalZoom.com, Baidu and more

by | Jul 10, 2024 | Financial

Check out the companies making headlines in midday trading: Intuit — Shares of the TurboTax parent company fell nearly 4% after it said it will slash 1,800 jobs , or about 10% of its workforce, as it boosts investments in artificial intelligence. Intuit said it plans to rehire 1,800 people for engineering, product and consumer-focused roles. LegalZoom.com — Shares plummeted more than 25% after the legal tech company announced the departure of CEO Dan Wernikoff and slashed its full-year revenue outlook. Chairman Jeffrey Stibel has been named as the company’s new CEO, effective immediately. In terms of revenue, LegalZoom now expects between $675 million and $685 million for the full year. The company’s prior guidance was between $700 million and $720 million. Taiwan Semiconductor Manufacturing — The chip stock advanced 3% following the company’s revenue results . Though the company’s reported T$207.87 billion for the month of June was a 9.5% decrease from last month, it was a 32.9% increase from the year-ago period. For January through June this year, the company reported T$1.27 trillion, which is a 28% increase from the same period last year. Carvana — Shares of the online car seller added 5% after Needham upgraded the stock to buy from hold. The firm said Carvana can grow unit sales by leveraging its customer experience and physical footprint. …

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[mwai_chat context=”Let’s have a discussion about this article:nnCheck out the companies making headlines in midday trading: Intuit — Shares of the TurboTax parent company fell nearly 4% after it said it will slash 1,800 jobs , or about 10% of its workforce, as it boosts investments in artificial intelligence. Intuit said it plans to rehire 1,800 people for engineering, product and consumer-focused roles. LegalZoom.com — Shares plummeted more than 25% after the legal tech company announced the departure of CEO Dan Wernikoff and slashed its full-year revenue outlook. Chairman Jeffrey Stibel has been named as the company’s new CEO, effective immediately. In terms of revenue, LegalZoom now expects between $675 million and $685 million for the full year. The company’s prior guidance was between $700 million and $720 million. Taiwan Semiconductor Manufacturing — The chip stock advanced 3% following the company’s revenue results . Though the company’s reported T$207.87 billion for the month of June was a 9.5% decrease from last month, it was a 32.9% increase from the year-ago period. For January through June this year, the company reported T$1.27 trillion, which is a 28% increase from the same period last year. Carvana — Shares of the online car seller added 5% after Needham upgraded the stock to buy from hold. The firm said Carvana can grow unit sales by leveraging its customer experience and physical footprint. …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]
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