Sasan Goodarzi, president and CEO of Intuit Inc. and Andy Jassy, CEO of Amazon.
David Paul Morris | Bloomberg | Getty Images
Amazon has for years counted on millions of third-party sellers to provide the bulk of the inventory that consumers buy daily. But keeping track of their finances has long been a challenge for outside merchants, particularly smaller mom-and-pop shops.
Amazon said on Monday that it’s partnering with Intuit to bring the software company’s online accounting tools to its vast network of sellers in mid-2025. Intuit QuickBooks will be available on Amazon Seller Central, the hub sellers use to manage their Amazon businesses, the companies said. Eligible sellers will also have access to loans through QuickBooks Capital.
“Together with Intuit, we’re working to equip our selling partners with additional financial tools and access to capital to help them scale efficiently,” Dharmesh Mehta, Amazon’s vice president of worldwide selling partner services, said in the joint release.
While the Intuit integration isn’t expected to go live until the middle of next year, the announcement comes as sellers ramp up their businesses for the holiday season, the busiest time of the year for most retailers. The companies said that sellers will see a real-time view of the financial health of their business, getting a clear picture of profitability, cash flow and tax estimates.
Representatives from both companies declined to provide specific terms of the agreement, including how revenue will be shared.
The marketplace is a critical part of Amazon’s retail strategy. In addition to accounting for about 60% of products sold, Amazon generates fees from providing fulfillment and shipping services as well as by offering customer support to sellers and charging them to advertise on the site.
In the third quarter, seller services revenue increased 10% to $37.9 billion, accounting for 24% of total revenue, a number that’s steadily increased in recent years. Amazon CEO Andy Jassy said on the earnings call that “3P demand is still strong and unit volumes are strong.”
Amazon shares are up almost 50% this year, climbing to a fresh record on Friday, and topping the Nasdaq’s 31% gain for the year. Meanwhile, Intuit has underperformed the broader tech index, with its stock up less than 4% in 2024.
The shares dropped 5% on Nov. 19, after The Washington Post reported that President-elect Donald Trump’s government efficiency team is considering creating a free tax-filing app. They fell almost 6% three days later after the company issued a revenue forecast for the current quarter that trailed analysts’ estimates due to some sales being delayed.
QuickBooks, which is particularly popular as an all-in-one accounting, expense management and payroll tool for small businesses, has been one of Intuit’s key drivers for growth. The company said last month that its QuickBooks Online Accounting segment expanded by 21% in the latest quarter, while total revenue increased 10% to $3.28 billion.
Intuit has been adding generative artificial intelligence tools into QuickBooks and other small business services, like its Mailchimp email marketing offering, to provide more automated insights for users.
“You can imagine, as we look ahead, our goal is to create a done-for-you experience across the entire platform across Mailchimp and QuickBooks and all of the services,” Intuit CEO Sasan Goodarzi said on the fiscal first-quarter earnings call.
Goodarzi said in Monday’s release that the company is bringing its “AI-driven expert platform to help sellers boost their revenue and profitability, save time, and grow with confidence.”
China economic policy kicked off 2025 with an expanded consumer stimulus program that analysts expect will benefit a handful of specific stocks. While the country has rejected handing out cash directly to consumers, since late summer it has subsidized some home appliance purchases through a trade-in program. Officials on Wednesday added microwaves, water purifiers, dishwashers and rice cookers to an existing list of eight product categories eligible for subsidies of up to 20% the retail price. “The new measures should mostly benefit leading home appliance manufacturers like Midea , Gree and Haier ,” Morningstar equity analyst Jeff Zhang said in a mid-week note. The companies were the top three air conditioner producers by revenue in China last year. “We lift our 2025-28 revenue forecasts on Midea, Haier and Gree by 2%-5% to reflect higher sales expectations,” Zhang said. He also raised 12-month price targets on all three stocks. Midea’s Hong Kong-listed shares gained nearly 38% last year. Shares could soar about 26% from Friday’s close based on Morningstar’s price target of 96.70 Hong Kong dollars. After gaining 29% last year, Haier’s Hong Kong-listed shares still have nearly 48% upside, measured from Friday’s close to Morningstar’s price target of HKD 38.90. Gree, traded in Shenzhen, saw its shares surge by nearly 50% last year. Morningstar has a price target of 51 yuan, equal to about 10% upside from Friday’s close. Citigroup analysts maintained their buy ratings on the same three Chinese home appliance stocks after Wednesday’s consumer stimulus announcement. Citi has higher price targets than Morningstar on all three: 64.50 yuan for Gree, HKD 50.60 for Haier and HKD 119.30 for Midea. Risks to growth However, Citi cautioned that price wars and further weakness in the real estate market could also weigh on the stock prices. Home appliance prices fell by 3.3% in December from a year ago, according to official data released Thursday. The figures underscored how consumer demand in China has remained lackluster since the pandemic as households stay focused on future income. China is due to release retail sales and full-year GDP numbers on Friday Jan. 17. The latest stimulus policy said consumers who benefited from home appliance subsidies in 2024 can enjoy them again this year. The eight product categories on last year’s list were refrigerators, washing machines, television sets, air conditioners, computers, water heaters, household stoves and range hoods. Officials said Wednesday they already allocated 81 billion yuan ($11.05 billion) to support the trade-in subsidies this year through the Spring Festival, which runs from late January to early February. Subsidies for the full year are due to be announced at an annual parliamentary meeting in early March. In the last several months, China’s major e-commerce platforms have highlighted how they’ve benefited from the trade-in subsidies program. Among the companies, JD.com remains Citi internet analysts’ top pick for playing the consumer stimulus program in the year ahead, according to a Jan. 8 note. “JD.com is relatively better/positioned to benefit from the continuation of this supportive trade-in program especially given its prior experience, prepared system and procedures and strong supply chain capabilities to capture growing demand on this new round of trade-in initiatives,” the Citi analysts said. More electronics, less food Relative to its peers, JD.com tends to sell more electronics and home appliances than clothes or food. But there is increasing product overlap as the e-commerce platforms have grown over the years. Alibaba is Citi’s second favorite e-commerce play on the Chinese consumer stimulus policy. The online shopping giant sells products from large brands on its Tmall platform, and smaller merchants through Taobao. “Thanks to Tmall’s strength with major brands and their large distributors, Baba will also likely benefit from the positive policy,” the analysts said. They expect PDD will benefit less relative to JD and Alibaba. Citi has a price target of $51 on JD’s U.S.-traded American depositary receipts , and $133 on Alibaba ADRs, implying upside of 54% and 65%, respectively, from Friday’s close.
An exchange-traded fund provider is helping investors make more bets on Wall Street’s most profitable momentum trades.
GraniteShares, which debuted its first installment of single-stock ETFs in 2022, now manages 20 of them. It includes the GraniteShares YieldBoost TSLA ETF (TSYY), which launched last month. The fund gives investors exposure to Tesla.
“This is about more and more people taking charge of their own finances,” GraniteShares CEO William Rhind told CNBC’s “ETF Edge” this week. “They want to be able to actively manage that and maybe try and outperform… That’s where we see things like leverage, single stocks really playing.”
He calls demand “a worldwide phenomenon” because it’s not just an opportunity for U.S. investors.
“We have investors all around the world that are looking to the U.S. ETF market first because that’s the biggest source of liquidity,” added Rhind. “They’re looking to the names that they know and love – the Teslas of the world [and] the Nvidias of the world. They’re only available here in the U.S., and that’s why people come here to trade them.”
But the firm acknowledges the strategy isn’t suited for everyone.
GraniteShares includes a disclosure in bold on its website: “An investment in these ETFs involve significant risks.”
As of Friday’s close, Tesla stock is nearly $100, or about 19%, off its all-time high – hit on Dec. 18.
Check out the companies making headlines in midday trading. Delta Air Lines — Shares of the airline surged 9% on better-than-expected results for the fourth quarter. Delta posted adjusted earnings of $1.85 per share on $14.44 billion of revenue. That surpassed the LSEG forecast of $1.75 per share and $14.18 billion in revenue. The company also offered up strong guidance. Constellation Energy — The stock popped 24% after the company announced it would buy geothermal and natural gas company Calpine in a $26.6 billion deal. Constellation also guided its full-year adjusted earnings per share to above where analysts anticipated. Capri Holdings — The luxury fashion group rose more than 9% following upgrades from Citi and Wells Fargo. The latter highlighted a recovery in margins. Citi noted that “the market seems to be valuing the company as if its portfolio of brands are on a path to extinction,” adding that’s not the case. Allstate , Chubb – Insurers exposed to the California homeowners’ market sold off sharply Friday as the devastation caused by the Los Angeles wildfires spread. Shares of Allstate and Chubb declined 7.8% and 4.9%, respectively. AIG shed 1.5%, and Travelers fell about 5%. AllState, Chubb and Travelers are the most exposed carriers to insured losses in the wildfires, according to JPMorgan. The Wall Street firm noted that Chubb could have a particularly high exposure due to its high-net-worth focus in the region. Edison International — The Southern California-based utility provider fell more than 5% as deadly wildfires continued to burn in Los Angeles. Although Edison has denied involvement in starting the wildfire, it has still been asked by insurance companies to preserve evidence. The move downward comes after shares dropped more than 10% on Wednesday. Jefferies Financial Group — Shares declined 12% after the investment bank posted weaker-than-expected earnings for the fourth quarter. Jefferies reported 93 cents earnings per share, while analysts anticipated 97 cents earnings per share, according to FactSet. Revenue of $1.96 billion did top an estimate estimates for $1.83 billion. Walgreens Boots Alliance — The pharmacy stock surged 26% on better-than-expected results for the fiscal first quarter. Walgreens reported 51 cents adjusted earnings per share on $39.46 billion in revenue. Analysts surveyed by LSEG had forecasted earnings of 37 cents per share and $37.36 billion in revenue. Meanwhile, the company maintained its fiscal 2025 adjusted earnings guidance range between $1.40 and $1.80 per share. Disney , Warner Bros Discovery , Fox — The media stocks fell after scrapping plans for Venu , a joint sports streaming service. Warner Bros tumbled 5.3%, while Disney and Fox shed 0.8% and 2.4%, respectively. On Semiconductor — Shares tumbled 5.9% on the heels of a Truist downgrade to hold from buy. Truist said it’s cautious on the stock until estimates are reset lower and noted deteriorating demand trends. for the company Sweetgreen — The salad chain’s stock added 5% following an upgrade to buy from neutral at Citi. The bank said Sweetgreen’s robotic kitchen can provide “substantial financial upside” for the company. Constellation Brands — The alcohol maker dropped 24.3% after earnings missed expectations. Constellation earned $3.25 per share, excluding items, on $2.46 billion in revenue for the fiscal third quarter. Analysts polled by FactSet forecasted $3.31 a share and $2.53 billion, respectively. Advanced Micro Devices — Shares of the chipmaker fell more than 5% following a downgrade to neutral from buy at Goldman Sachs. The investment firm cited revenue growth as a concern for AMD. The stock’s slide came amid a broad decline for semiconductor companies on Friday. Hims & Hers — The telehealth stock slid 1% following a downgrade from Citi to sell from neutral. Citi analyst Daniel Grosslight said that investors are overvaluing the company’s GLP-1 revenue stream, especially following the FDA’s decision to take tirzepatide off the shortage list. Semaglutide is likely to follow, which would cause the firm’s GLP-1 revenue to fall from $400 million in fiscal year 2025 to $135 million, he wrote. — CNBC’s Yun Li, Alex Harring, Michelle Fox, Lisa Kailai Han and Jesse Pound contributed reporting