Intuit Rises on Prospect of Tax Software Sales

Intuit Inc. shares rose 3.9% amid expectations that new tax laws will boost sales of the personal-finance software maker’s tax-preparation programs. Mountain View-based Intuit shares rose $1.06 to close at $28.06 in Nasdaq trading. Intuit is expected to sell more copies of its Turbo Tax software that helps consumers simplify the tax-filing process after Congress passed a tax-cut bill last week, said Michael Stanek, an analyst at Lehman Bros. Many expect the tax laws to get more complex, resulting in increased demand for Intuit’s tax programs, he said. Intuit also makes Quicken, a popular personal-finance product that allows people to organize their finances.