Stocks making the biggest moves midday: Intuit, AMD, LegalZoom.com, Baidu and more

Check out the companies making headlines in midday trading: Intuit — Shares of the TurboTax parent company fell nearly 4% after it said it will slash 1,800 jobs , or about 10% of its workforce, as it boosts investments in artificial intelligence. Intuit said it plans to rehire 1,800 people for engineering, product and consumer-focused roles. LegalZoom.

Mastercard , Visa — The payment card network processors' stocks dropped, with Mastercard losing 3% and Visa sliding 1%. Bank of America downgraded both Mastercard and Visa to neutral from buy. The bank cited limited upside for estimates and their valuation multiples. Manchester United — Shares of the pro football club popped 2.4% after the company posted its third-quarter earnings results for fiscal 2024. Though its revenue for the third quarter came in at 136.

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Tax preparation company Intuit to lay off 1,800 as part of an AI-focused reorganization planTax preparation and financial software company Intuit announced an AI-focused reorganization plan Wednesday that includes laying off about 10% of its workforce.
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