Intuit (INTU) Slumps on Q4 Loss

Intuit Inc. (NASDAQ: INTU) shares dropped 12.8% to $89.80. Intuit reported a narrower-than-expected loss for its fiscal fourth quarter, but the company's sales missed analysts' expectations. The company issued a weak forecast for the full year and announced its plans to divest Demandforce, QuickBase and Quicken. Share volume was 3.6 million, compared to an all-day average of 1.3 million