Software sector under pressure after Intuit outlook disappoints

ServiceNow

26/08/2026 09:54

** U.S. software stocks fall premarket after Intuit forecast annual revenue below Wall Street estimates, citing a push for customer growth over near-term sales
** Intuit slumps 11.8%, set to lose about $12 billion in market value 
** ServiceNow NOW.N down 2.4%, Salesforce CRM.N falls 1.6%
** Adobe ADBE.O slips 2.5%, Palantir PLTR.O dips 1%, 
** Microsoft MSFT.O down 0.8%
** Barclays analysts said accounting changes, including separate Mailchimp reporting and the inclusion of stock-based compensation in non-GAAP earnings, could have wider implications for the software sector
** INTU shares have sunk ~46% year to date vs a 12.5% rise in Nasdaq .IXIC, and are trading ~49% below their 52-week high in Sept 2025 

 (Reporting by Rashika Singh in Bengaluru)
 ((Rashika.Singh@thomsonreuters.com;))