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Intuit, Inc. (INTU) Message Board

  • mrlarrry mrlarrry Oct 7, 1999 10:08 AM Flag

    Who knows . . .

    what is driving this stock down today. Some of it
    may be a correction from those awesome days last
    week. Some of it may be delayed fallout from the CEO
    nonnews (and yes, word of a new CEO will help when it
    comes, let's hope it's sooner rather than later.) Some
    of it may be technical--chart watchers saying that
    the stock has to go down to a certian level before it
    rises and then making sure that it does.

    I still
    say we need to stay the course and either ride this
    out or see it as a buying opportunity (wish I could
    afford to buy more!) We have a great company and, in the
    long run, I still believe that's what moves a stock.
    As I said before, the product leadership (and
    today's news added to that), the balance sheet, and the
    P/E ratio are on our side and would bring in many
    sensible investors, institutional and otherwise. We may
    need a bit more time, though, to abosrb the CEO
    nonnews.

    Long_bbb has reminded us how fickle and irrational these
    markets can be and there's no reason for INTU to be
    exempt from some of this craziness. These gyrations are
    usually temporary.

    INTU is selling a lot of
    merchandise now because of the new Quicken products and will
    sell a lot more in the coming months because it is tax
    season.

    Today should, at least, not be a dull day.

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    • Thank you for all your encouraging
      words.

      Like many of you, I still think this is a great
      company and will reocver. Still, I think the burden is on
      them to explain themselves a little more. The idea of
      declaring a dividend is a good one. I think we do need to
      press them on why they chose share dilution rather than
      cash purchase for the mortgage company.

      Here is
      something they need to realize: They see the whole picture
      and how all the pieces fit together. We do not. When
      we see a 3:1 split announced, then a couple of weeks
      later a resignation of a CEO then a couple of weeks
      later this acquisition with share dilution, it is easy
      to come to all kinds of conclusions on how the
      pieces fit together. Who knows if any of these
      conclusions are true? True or not, Wall Street does not like
      surprises of this nature.

      I will try to call someone
      at the company (I left a message in IR yesterday
      just before I sent the fax). I think the approach I
      will take is this: I (and many others) invested in
      this company because we saw the company with product
      leadership, good decisions, and all the other strengths I
      told them about it my fax. That view is in doubt now.
      It is up to them to come back to the financial
      community and explain that it is, indeed, that
      company.

      I have done this kind of thing with another company
      (much smaller) and I think these efforts will pay
      off.

      Anyone planning on going to the annual meeting? Is it in
      November? Anyone planning on speaking there if you go? I
      don't think that I will be able to go, but maybe I'll
      try.

    • A dynamic CEO would give this stock a much needed
      boost and some direction.Could you imagine what an
      imaginative CEO could do with that kind of cash.One wishes
      these people on the board would choose someone who is
      keen on the Ecommerce.The business to business special
      software packages would be profitable.We will have to be
      patient and wait and see. Good Luck

    • Ask him why they always decide to dilute the
      existing shareholders instead of using some of that
      billion dollar cash hoard to buy these companies. Is it
      because INTU thinks its stock is worth less than cash?
      Apparently so. They did the same thing last year when they
      acquired Lacerte. I don't know what the hell they are
      saving that cash for. How about a special dividend to
      current holders to offset the impact of the extra shares?
      How about $3.00 a share? That still leaves them with
      $6.00/share to hold on to for their mysterious reasons.

    • your letter was very well written and eloquent. i
      hope you get a response soon and share with us. i have
      not lost the faith in intu though, and i believe it
      is still making good moves overall. look at wcom.
      it's stock dropped from highs of 96 to 66 this week
      after announcing it's buy of sprint. does the drastic
      change in it's stock price mean the co is not a good co.
      any longer? of course not. and look where it closed
      today, just a few days later. any time there is a
      material change in any co. it is going to spook some
      investors and cause valid questions to be asked as well as
      a temporary drop in the stock price. as long as all
      is above board and the co. has a gameplan to move
      forward, the stock will recover. i think this is the case
      with intu right now. buy with both hands at these low
      prices because in feb or march we will be in the high
      40's.....ub

      p.s. here is a post i made on another board that i
      thought might interest some of you:

      Subject:
      INTU
      Date: Fri, 08 October 1999 12:36 AM EDT
      From:
      Ubkwts
      Message-id:
      <19991008003624.02616.00000312@ng-co1.aol.com>

      well, intu is sure getting interesting lately. first
      the ceo leaves right after a 3 for 1 split is
      announced. today they announce aquisition of 10/07: Intuit
      acquires Rock Financial for $370 mln . the last earnings
      report of INTU surprised to the upside by several cents
      per share. the stock was as low as around 68.00 in
      august and as high as 110.00 in sept.
      presplit. today
      it closed at 27, or 81 presplit. i had sold the oct
      28.33 puts for 4.00 and thought i was out of the woods
      for sure, but now it looks like i just may have the
      stock put to me which is ok as i will own a great co.
      at a great price. i read many message boards and
      something very interesting has developed. on many of the
      boards i read lately, there has been extended discussion
      about cap gain taxes, how to figure, when a loss
      can
      be taken, etc etc... now, if people are beginning to
      think in that direction already, just imagine what kind
      of sales turbo tax will have this tax season!!! the
      dip we are seeing now on INTU makes it a screaming
      buy and i expect to see it in the high 40's by
      february or march.........ub

    • mrlarrry:

      A tip of the long_bbb hat to
      you!!!

      While we agree to disagree on many
      issues, it is an extremely well written
      letter!

      Furthermore, I applaud you for having the "noogas" to send it.
      I hope you receive a response, and if so, please
      share with the group.

    • hey people- this is a great deal. intuit is
      building for the future. Sure there is a short term
      decline due to the additional shares and short term
      dilutive effect on EPS ( 3 cents they said) . Who is so
      sharp here that they know this is a bad deal. Come on
      -- yeah the stock went down and yeah I bought at 27
      1/8. A year from now you will be saying this was the
      best deal they made in 99. They are building an
      internet franchise. EGRP did it with the bank merger and
      MCI- WCOM didn't shrink from buying Sprint. So please
      don't reaction to market reaction-- look at it
      objectively. It seems to be a great long term deal.

    • even see on YAHOO boards!

    • I think (hope?) that INTU is still a great
      company that just kind of got a little off for a short
      time. Maybe Mr. Harris had gotten a little too
      acuqisition-happy and then this happened. Who konws. We probably
      never will know.

      What we need to know is the
      vision of this company and what they plan to do to
      accomplish that vision.

      I certainly believe the
      company can--and almost certainly will emerge from all
      this and rise to prominence again.

      Didn't I
      read somewhere that the annual meeting for Intuit is
      in November. I most likely will not be able to
      attend, but I hope that others will.

    • EOM

    • I too brought for the split, however I feel that
      we were lead down the path, to put it mildly. Being
      down over 20% overall stinks. I hope the Intuit IR get
      in gear release some positive statements. It seems
      Harris know something we did not. I agree with your
      letter.

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