•Goldman Sachs downgraded Intuit from Neutral to Sell, slashing its price target from $519 to $276.
•The firm believes consensus growth estimates for the next three years are too high and expects downward revisions due to rising competition in the tax sector.
•PPL Electric Utilities announced that the Pennsylvania Public Utility Commission approved its distribution rate case settlement with minor modifications.
•The IRS and Treasury Department announced plans for new regulations imposing excise taxes on compensation exceeding $1 million at tax-exempt organizations.
•The new rule eliminates the requirement that an employee be among the five highest-compensated to trigger the tax, applying to any employee exceeding $1 million after 2025.
•Federal Reserve Governor Michael S. Barr issued an urgent warning regarding the trajectory of U.S. bank regulation during a speech at American University.