I just looked at the after hours trading numbers for Intuit on NASDAQ quotes. Here's what I found: 241,300 shares traded, majority of trades were small blocks (less than 500 shares), one trade at 5,000 shares, a couple at 2,500 shares, a couple at 1,100 shares and a few at a 1,000 shares. Here's the kicker: the biggest blocks of shares were 27,500 shares, 20,500 shares, 8,000 shares, and 3000 shares in early after hours trading when the stock was being pushed to higher levels before the earnings announcement. In fact it looks like the majority of the 241,300 shares traded in after hours, were bigger blocks of shares early on prior to the announcement of earnings.
I would not be too excited about this activity after hours, when I see over 5,000,000 shares traded during the day.
We will come back tomorrow. I particularly like the $25 - $30 million dollars in revenue that they had to defer to this current quarter (3rd quarter).
Hang loose we'll see a pop tomorrow when the analysts start giving us upgrades.