Wednesday, September 23, 2009

Intuit Swallows MINT and says No Problem.

Intuit (INTU) continues to bang the drum. Intuit issues a press release re-affirming guidance on the day of investor presentations. This is a perfect text book example of institutionalized stock promotion. Nothing new to say. Investors all taking a day off to hear presentations that should not change your mind because there is nothing new to say. I suppose the good news is that there is no bad news; which is more than some companies can say.

Here is the issue. They are buying for some $175 million. When you acquire there are always integration issues if not the outright risk that you have made the wrong acquisition. Intuit needs to explain how well its all going to everyone no just those at an investor conference.