At a glance: 2 S&P 500 names report today — Intuit (after the close) and Williams-Sonoma (premarket) — a quiet bridge session before Wednesday's Nvidia-led AI-earnings wave.

The tape ahead

Intuit closes its fiscal year today, and the action is almost entirely in the non-tax franchise: fiscal Q3 carries the bulk of tax-season revenue, so fiscal Q4 is structurally Intuit's smallest quarter, and today's sharp step-down versus fiscal Q3 (down 72% vs prev.Q. on EPS, down 50% vs prev.Q. on revenue) is a well-worn seasonal pattern, not a signal about the underlying business. The real debate is QuickBooks/Global Business Solutions momentum and Credit Karma cross-sell — lending and insurance categories have been a consistent bright spot there — set against elevated restructuring charges tied to this spring's workforce reduction that land mostly in this quarter and will make GAAP EPS noisier than the underlying trend; management raised full-year revenue guidance at the last print, so the bar into today is not a low one. Consensus of $3.59 sits toward the top of a $3.49–$3.72 range across 27 estimates, and a clean beat would extend an EPS growth rate that's been running near 31% over the trailing year and in the mid-20s over the past decade. The options market is pricing an 8.2% move into Thursday's expiry, well above the 2.4% average realized move across Intuit's last eight prints (all beats, the most recent by 1.84%) — the straddle looks rich against how the stock has actually traded on these reports. On the consumer side, Intuit has been ceding some ground on price in the lowest-income DIY tax-filer segment even as assisted/Live tax revenue keeps growing faster, a mix shift worth watching alongside any early read on next year's guide.

Williams-Sonoma reports before the open with all four brands — Pottery Barn, West Elm, the namesake Williams Sonoma banner, and Pottery Barn Kids/Teen — having turned comp-positive together last quarter for the first time in some time. The debate is whether that breadth holds, and whether tariff-driven merchandise-margin pressure, which management has said is front-loaded and peaks around this quarter, erodes full-year operating-margin guidance. Sequentially, consensus implies continued but modest growth (up 7% vs prev.Q. on EPS, up 7% vs prev.Q. on revenue), consistent with a management team that declined to raise full-year guidance last quarter despite a beat, citing macro uncertainty. Consensus EPS of $2.06 sits mid-range of a tight $1.97–$2.12 band across 16 estimates; EPS growth has been essentially flat over the past one and three years but accelerates further out (5-year near 15%, 10-year near 18%), so the near-term setup is more about margin durability than a growth reacceleration. The options market is pricing a 9.7% move against a 7.0% average realized move over the last eight prints (all beats, the most recent by 7.34%) — a smaller implied/realized gap than Intuit's, but still some premium priced in. Read-across from the home-furnishings space points to demand improving off a low base but still constrained by soft housing turnover, with higher-income shoppers holding up better than value-conscious ones — a bifurcation that should show up in which banners lead Williams-Sonoma's comp.

Scorecard — reported since we last wrote

No S&P 500 names have reported since Monday's edition — Intuit and Williams-Sonoma, previewed there, are today's reporters, so there's nothing to score yet.

No results to score from the prior edition.

Rest of the week

Wednesday is the heaviest session of the week by a wide margin: Nvidia's after-close print anchors it, alongside CrowdStrike, Salesforce, Synopsys, Agilent, Veeva, HP and Smucker's. Thursday brings a software-and-retail cluster — Marvell, Autodesk and Workday on the enterprise-software side, Dollar General, Ulta, Best Buy and Hormel on consumer.

Informational only — not investment advice. Figures are consensus/estimates and option-implied values from public sources and may be revised.