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Bank of America

Bank of America is one of the largest financial institutions in the United States, with more than $3.0 trillion in assets. It is organized into four major segments: consumer banking, global wealth and investment management, global banking, and global markets. Bank of America's consumer-facing lines of business include its network of branches and deposit-gathering operations, retail lending products, credit and debit cards, and small-business services. The company's Merrill Lynch operations provide brokerage and wealth-management services, as does its private bank. Wholesale lines of business include investment banking, corporate and commercial real estate lending, and capital markets operations. Bank of America has operations in several countries but is primarily US-focused.

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Intuit (NASDAQ: INTU) has announced the expansion of its Invest, Develop, Empower, Accelerate and Scale (IDEAS) Program in partnership with the Los Angeles Urban League. Originally launched as a pilot in Los Angeles, the program will now support 100 small business owners.

Intuit Expands IDEAS Program to Help Small Businesses

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Estée Lauder Companies, Inc. (NYSE: EL) is among an increasingly smaller group of stocks that have yet to mount a serious comeback to recent selloffs. Having gained more than 200% from January 2019 through January 2022, investors in the cosmetics giant then gained a harsh lesson in gravity. 

Is Estée Lauder on the Verge Of a Massive Comeback?

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Intuit (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTU#NASDAQ">INTU</a>) has announced the expansion of its Invest, Develop, Empower, Accelerate and Scale (IDEAS) Program in partnership with the Los Angeles Urban League. Originally launched as a pilot in Los Angeles, the program will now support 100 small business owners. Applications for this program are now open in Atlanta, Los Angeles and Philadelphia. 
In its inaugural year, participants of the Intuit IDEAS Program experienced an average revenue growth of 23% and saved 16.5 hours per month due to efficiencies enabled by INTU&#39;s financial technology platform, which leverages data and AI as part of its core strategy. Additionally, participants benefited from guidance provided by Intuit&#39;s experts and business coaching from the Los Angeles Urban League. 
Selected small business entrepreneurs participating in the program will receive extensive support, including email marketing, executive coaching, business consulting, business compliance, bookkeeping, tax preparation and more. 
The program aims to enhance business operations, efficiency, profitability and capital readiness by providing access to Intuit&#39;s comprehensive suite of products and services, along with a $5,000 grant upon program completion to assist in scaling their businesses.

<div class="chart_embed">
<h3>Intuit Inc. Price and Consensus</h3>

<img alt="Intuit Inc. Price and Consensus" src="https://staticx-tuner.zacks.com/images/charts/43/1718971720.png" style="height:278px; width:620px" title="" />

Intuit Inc. price-consensus-chart &#x7C; Intuit Inc. Quote
</div>

<h3>Intuit&#39;s Expanding Portfolio Offerings to Aid Top-Line Growth</h3>

The company is constantly helping small businesses with the IDEAS Program as well as expanding its portfolio to make it relevant to its customers. It recently released some notable upgrades. These updates are expected to aid the company&#39;s top-line growth in the coming quarters. 
Intuit projects fiscal 2024 revenues in the band of $16.164-$16.2 billion, indicating 13% year-over-year growth. The company expects fiscal 2024 non-GAAP earnings per share between $16.79 and $16.84. 
The Zacks Consensus Estimate for INTU&#39;s 2024 revenues is pegged at $16.19 billion, indicating year-over-year growth of 12.65%. The Zacks Consensus Estimate for earnings is pegged at $16.83 per share, indicating year-over-year growth of 16.88%. 
Intuit recently introduced its new revenue intelligence technology, featuring always-on predictive and generative artificial intelligence models designed to help marketers increase revenues. This system, built on last year&#39;s launch of Intuit Assist, leverages INTU&#39;s extensive data and advanced AI to benchmark customers&#39; marketing efforts against billions of industry-specific financial inputs from QuickBooks and marketing performance metrics. 
The company also announced that it has agreed to acquire technology from mobility risk intelligence provider Zendrive. Key Zendrive employees, including CEO Dennis Ellis and Co-founder and CTO Pankaj Risbood, will join Credit Karma to enhance its usage-based auto insurance product, Karma Drive. This product allows Credit Karma members to receive real-time driving feedback and view potential insurance discounts before purchasing a policy, promoting safer driving behaviors. 
INTU has announced a multi-year Canadian partnership with the National Hockey League (NHL), designating Intuit QuickBooks as the Official Small Business Accounting Software of the NHL. This partnership grants Intuit QuickBooks exclusive marketing rights and designations to be used in national advertising, marketing and promotional campaigns, enabling the company to engage with the NHL and its fans effectively. 
Intuit faces competition in the Small Business and Self-Employed sector from The Sage Group and payroll services from Automatic Data Processing (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADP#NASDAQ">ADP</a>) and Paychex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYX#NASDAQ">PAYX</a>). The company also faces challenges in merchant services from financial institutions like Wells Fargo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), JP Morgan Chase&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) and Bank of America (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BACRP#OTC">BACRP</a>), as well as Consumer Segment from tax preparation provider H&amp;R Block (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRB#NYSE">HRB</a>). 
Shares of this Zacks Rank #3 (Hold) company have lost 1.4% year to date against the Zacks Computer and Technology sector&#39;s growth of 25.7% due to tough competition from different sectors. 
Given the intense competition in various sectors, it is crucial for Intuit to continuously innovate and stay relevant to its customers. By expanding its portfolio of offerings, INTU can better compete with its rivals and even surpass them, ensuring to meet the evolving needs of its diverse customer base.

<a href="https://www.zacks.com/stock/news/2291567/intuit-intu-expands-ideas-program-to-help-small-businesses?cid=CS-BENZ-FT-analyst_blog&#x7C;company_news_tech_sector-2291567">To read this article on Zacks.com click here.</a>

Est&eacute;e Lauder Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EL#NYSE">EL</a>) is among an increasingly smaller group of stocks that have yet to mount a serious comeback to recent selloffs. Having gained more than 200% from January 2019 through January 2022, investors in the cosmetics giant then gained a harsh lesson in gravity.&nbsp;

Through November of last year, the company shed more than 70% of its value and was likely only saved from losing more by the broader market rally that started in response to likely interest rate cuts. But in recent months, something interesting has been happening, and it&#39;s not just the solid run of gains, 40% all told since November&#39;s low. There has actually been a seemingly endless run of analyst upgrades, and it&#39;s effectively been all one-way traffic.&nbsp;

<h2>Run of Upgrades</h2>

For example, February saw less than five bullish updates, with Raymond James rating Est&eacute;e Lauder a Strong Buy while Wells Fargo&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) rated it Overweight. Then, in March, Bank of America&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/BACRP#OTC">BACRP</a>) upgraded Est&eacute;e Lauder shares from a Neutral to a Buy rating, a move echoed by the Citigroup&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>) and DA Davidson teams this week.&nbsp;

The refreshed price targets from these analysts have risen as high as $175, with at least three from the aforementioned list naming this as their expectation. Looking at the chart, however, you can&#39;t help but get the feeling that the stock hasn&#39;t reflected all this bullish optimism yet.&nbsp;

While they&#39;ve held onto much of their gains from November&#39;s run, Est&eacute;e Lauder shares have effectively traded sideways since the end of December. It&#39;s funny, considering how many analysts have come out in the bull&#39;s corner in the meantime and made all the more strange by the broader market setting high after high. For context, just this week, the benchmark S&amp;P 500 index was notching a fresh all-time high.&nbsp;

<h2>Reaching an Inflection Point</h2>

This week also saw Est&eacute;e Lauder hit what Citigroup called an &quot;inflection point&quot; in its return to growth after last year&#39;s calamitous selloff. The company&#39;s sales got hit hard by the collapse in Chinese consumer spending, a key market, and its inventories swelled as a result. But it&#39;s looking like they&#39;ve managed to adopt aggressive enough tactics to clear these hurdles, while there are signs of growth returning to its key markets.&nbsp;

Bank of America is bullish enough on the turnaround to say the company is on the verge of getting back to profitability, even &quot;if China only grows by single digits&quot; while Canaccord&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/CCORF#OTC">CCORF</a>) summed it up nicely when they said Est&eacute;e Lauder stands to gain the most as it&#39;s suffered the most.&nbsp;

<h2>Considering Getting Involved?</h2>

Given this, it&#39;s easy to feel like investors could be looking at a sleeping giant that is starting to reawaken. It will take a certain type of investor to get excited about the opportunity here, as Est&eacute;e Lauder has significantly lagged behind its peers and the broader market.&nbsp;

But perhaps that&#39;s where the real opportunity exists. It would be a different story if these analysts&#39; upgrades hadn&#39;t materialized at the rate they have been, or if Est&eacute;e Lauder shares had set even lower lows this year. But the fact is the stock has been gaining since last November, and signs continue to emerge indicating that the worst is over.&nbsp;

With the 70% selloff of recent years barely starting to be eaten into, an exciting recovery play is gathering momentum. Investors should look for shares to trend up towards and close above their recent high of $160, as this would give technical confirmation that the recovery really is about to start in earnest.

The article &quot;<a href="https://www.marketbeat.com/stock-ideas/is-estee-lauder-on-the-verge-of-a-massive-comeback/">Is Est&eacute;e Lauder on the Verge Of a Massive Comeback?</a>&quot; first appeared on MarketBeat.

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