The Dow Jones Industrial Average pared its losses Monday as the sell-off spurred by the fire sale of Bear Stearns wasn't as bad as expected.
Stocks plunged at the opening bell Monday as investors were spooked by the cash crisis at Bear Stearns that forced its sale for $2 a share to JP Morgan Chase.
Investor Wilbur Ross has reached an agreement to acquire the mortgage loan servicing business of H&R Block's Option One Mortgage, forming the second largest mortgage servicing company in the United States.
H&R Block up 5 percent as Wilbur Ross has agreed to acquire Option One's Servicing Business for $1.1 Billion from H&R Block. He is not buying the mortgages, merely the right to service them. Another HMO lowers its outlook. Coventry lowered its 2008 forecast, citing the impact of flu on costs.
Following are the day’s biggest winners and losers. Find out why shares of H&R Block and Clear Channel popped while Fannie Mae and Nokia dropped.
Wall Street was poised to open mostly lower on Thursday, despite positive retail sales numbers as the market continued to worry over the battered financial sector.
Wall Street was poised to open mostly lower on Thursday, despite positive retail sales numbers as the market continued to worry over the battered financial sector.
Wall Street was poised to open mostly lower on Thursday, despite positive retail sales numbers as the market continued to worry over the battered financial sector.
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Stocks closed lower as fears that inflation was hampering holiday gift-buying combined with wider concerns about the state of the economy.
Stocks closed mixed as worries about a weakening economy and credit crunch continued to rattle the markets.
How aggressive will the Fed be? They are expected to cut 25 basis points and many are expecting a 50 basis point cut in the discount rate. Some are also expecting new innovations to encourage banks to use the discount window.
Futures lower this morning on pressure from the financials. The UBS headline for the bank analyst report this morning tells the story: lower earnings ahead. They are adjusting their 2008 earnings expectations for many banks and brokers.
H&R Block, the largest U.S. tax preparer, said that Chairman and Chief Executive Mark Ernst had resigned, following mounting losses tied to subprime mortgages.
H&R Block the largest U.S. tax preparer, said on Wednesday bank lines at its Option One Mortgage Corp lending unit were terminated or reduced, as the subprime mortgage company reduces it lending volume.
H&R Block, the largest U.S. tax preparer, on Tuesday said it will eliminate 575 jobs at its Option One Mortgage Corp subprime lending unit, on top of 615 job losses announced on May 15.
Former U.S. Securities and Exchange Commission Chairman Richard Breeden won three seats on H&R Block's board Thursday, advancing his efforts to refocus the company on its tax preparation business.