The tax and accounting giant is broadening its reach to the consumer segment as it acquires Mindchimp, an email marketing provider, through a mix of cash and stocks worth $12 billion.
Commonly known to own QuickBooks and Credit Karma financial services brands, the acquisition is a giant leap forward to provide marketing service to small and mid-cap market companies. This is consistent with Intuit ultimate goal of providing a consumer growth platform where businesses tap onto the power of data to thrive.
Pika World continues to favour Intuit’s long term prospects.
Apple: Be Ready for the Virtual Event
Investors have plenty to guess without a hint of what will be released during the virtual event. However, it is expected that the company will release its iPhone 13, which will accompany the next generations of product line up- Apple Watch, the Apple Watch 7, AirPods and AirPods 3.
With the new iPhone release, analysts expect the average sales price to increase further, given a higher storage capacity for the latest release phone. This means that one could expect the Pro and Pro Max models to potentially offer storage options amounting to 1TB.
Hardware enhancements such as improvements in camera, bigger batteries, enhanced processors and improved 5G connectivity is expected to be in the call. So is the use of to WiFi 6 wireless network.
It is an event that will glue Apple Fans for the session, and we hope it can be positive for the stock price.
Coinbase: We need more money!
The Crypto exchange aimed to bolster its balance sheet through a $1.5 billion bond sale. Unfortunately, this led to the stocks falling during the session. Since its debut as a public company, shares have fallen by around 26% since April.
The proceed will be used for general corporate purposes and invested in technology and possible future acquisition. Much negative news has been revolving around the Crypto world, not limiting to the Walmart Fake News that have generally put pressure on crypto.
Electric Vehicles in China
China is keen to encourage market consolidation in the EV market, a booming sector given the taste for a green economy. Moreover, as the country seek to improve charging infrastructure and EV mileage, there is a desire for smaller firms to come together to scale up.
Essentially, the Chinese government felt that the mergers and restructuring in the sector could be a positive sign. However, this is seen as uneasy news for the EV company as it is uncertain of possible regulation in the industry.
What’s on the Menu Today?
Today is an important day for the market.
At 8.30 pm, we will receive the much-awaited CPI data, which we expect the core CPI to maintain at 0.3% compared to the prior period.
It is 14 September, Tuesday, at 7.25 am in Singapore and 7.25 pm in New York. Let’s hope for a steady week for everyone!
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