Intuit Plunges on Soft Fiscal 2027 Outlook as Dick's Sporting Goods Tumbles on Guidance Cut

Tuesday's session was dominated by post-earnings selloffs even as the broader S&P 500 and Nasdaq closed higher on a tech rebound led by Nvidia. Intuit fell sharply after reporting fourth-quarter fiscal 2026 results after the bell, with the damage centered on fiscal 2027 revenue guidance of $23.279 billion to $23.512 billion, well below the FactSet consensus of $23.7 billion. Analysts had expected Q4 revenue of roughly $4.27 billion and adjusted EPS of $3.59, and the company had already been under pressure this year from fears that generative AI could erode its TurboTax and QuickBooks franchises, with INTU shares down roughly 50% year-to-date heading into the print.

Dick's Sporting Goods dropped as much as 16% intraday, on pace for its worst day in three years, after the sporting-goods retailer reported a fiscal second-quarter miss on both revenue and earnings in what management described as a challenging environment, then cut its full-year fiscal 2026 guidance significantly; shares settled about 12% lower. Zoom Video Communications also slid despite beating second-quarter expectations, with sales rising 4.9% year-over-year to $1.28 billion and non-GAAP EPS of $1.55 coming in 5% above consensus, as investors focused on flat sequential third-quarter revenue guidance of roughly $1.28 billion. On the positive side, Synopsys rallied ahead of its fiscal third-quarter report due after the close on August 26, and Merck emerged as the year-to-date leader among Dow components.

Option activity was elevated across the semiconductor and technology complex, with Micron, Intel, and Palantir among the names seeing the largest relative contract volume surges.