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Why Did Intuit Gain 16% in October?

TheMotleyFool

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Intuit (NASDAQ: INTU) stock climbed 16% in October, according to data from S&P Global Market Intelligence.

The stock reversed declines that followed its announced acquisition of Mailchimp in September. Investors were pleased when Intuit unveiled its new mobile banking software, Money by Quickbooks, on Oct. 19. Intuit will play an even bigger role in small business operations, with marketing and payment transfer functions in addition to the bookkeeping and billing functions that made it famous.