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GOOGL   1,163.33 (+6.46%)
AMZN   1,970.64 (+3.36%)
CGC   14.42 (+8.83%)
NVDA   262.55 (+7.64%)
BABA   195.91 (+4.70%)
MU   45.31 (+9.92%)
GE   7.14 (+6.09%)
TSLA   507.88 (+5.81%)
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ACB   0.81 (+0.00%)
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GILD   76.10 (-2.70%)
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S&P 500   2,623.19 (+5.41%)
DOW   22,220.12 (+5.55%)
QQQ   193.40 (+5.47%)
AAPL   254.82 (+5.55%)
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GOOGL   1,163.33 (+6.46%)
AMZN   1,970.64 (+3.36%)
CGC   14.42 (+8.83%)
NVDA   262.55 (+7.64%)
BABA   195.91 (+4.70%)
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Intuit buying Credit Karma in $7.1B deal

Posted on Monday, February 24th, 2020 By Sarah Skidmore Sell, AP Personal Finance Writer

Intuit is buying consumer finance company Credit Karma in a $7.1 billion cash and stock deal that will take it deeper into the financial products realm.

The agreement announced Monday would bring together the maker of TurboTax, QuickBooks and other personal finance tools with one focusing on consumers' access to financial products, such as finding the right loan or credit card.

The combined companies will aim to provide consumers with “a personalized financial assistant," Intuit's CEO Sasan Goodarzi said.

Credit Karma offers users free access to credit scores and information about financial products. It analyzes consumers' financial data and based on that, suggests products. Credit Karma gets paid by a bank or lender if a user gets a loan, credit card or other financial product through its system.

The company, founded in 2007 and based in San Francisco, says it has 37 million active monthly users. It generated nearly $1 billion in revenue in 2019, according to the companies.

Intuit, based in Mountain View, California, said it will pay for the deal — its largest yet — in equal portions of cash and its own common stock. The deal value includes an estimated $1 billion in equity awards to be offered over three years.

The companies argue that many consumers struggle with not knowing or not fully understanding where they stand with their finances. With that in mind, they will provide access to personal financial information — such as income, spending and credit history — in one place so that consumers can better understand their financial picture and use it to their advantage, such as for obtaining better interest rates. They will also be able to see personalized, pre-approved offers on loans and credit cards.

Analysts said the deal makes strategic sense and investors welcomed the news, sending Intuit's shares up almost 3% in after-hours trading on a particularly rough day in the markets.

Credit Karma founder and CEO Ken Lin will continue to operate the company out of its San Francisco headquarters. The companies said they expect the deal to close in the second half of 2020, pending regulatory approval.

10 Great Cheap Stocks to Buy Now for Under $10

As the P/E ratios of most S&P 500 companies look very expensive and the stock market continues to regularly hit new all-time highs, it's very difficult for investors to find cheap stocks to buy now.

This goes for both share price, since most stocks are trading higher on a per-share basis, and valuation relative to earnings. Right now, the typical S&P 500 company is trading at about 25 times forward-looking earnings. Historically, S&P 500 companies have traded at about 15 times earnings in more normal markets.

While the S&P 500 as a whole is expensive, there are still a handful undervalued stocks that are trading at less than $10.00 per share. Value investing opportunities for value exist if you know where to look. Putting together a list of cheap stocks to buy now requires looking into some smaller, riskier, unloved or undiscovered parts of the market. These low-priced stocks might not look especially attractive today, but long-term investors stand to profit if they are willing to be patient and hold onto shares of these companies through multiple market cycles.

Some of these companies are great investing ideas because they're too small and too risky to attract the interest of most mutual funds and Wall Street money managers. Others have been beaten up by the market after a period of slowing earnings and profits, but are now trying to turn around and bounce back.

In this list, you might find marijuana stocks, dividend-paying stocks, large-cap stocks, growth stocks, small-cap stocks, and even some bitcoin stocks. While these low-priced stocks have a lot of differences, these 10 stock picks all share a common characteristic, a super-low share price of $10.00 or less.

View the "10 Great Cheap Stocks to Buy Now for Under $10".


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