Some of the names on the move ahead of the open.» Read More
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.
Fallout from the U.S. housing slump on mortgage and real estate companies deepened Tuesday, as title insurer First American and subprime lender NovaStar Financial announced job cuts and NovaStar's auditor expressed doubt that the company will survive.
The old adage on Wall Street is that corporate takeovers come roaring back from the sluggish summer months right after Labor Day. This time around that line of thinking may not hold up.
Lone Star Funds, which has been seeking to abandon its $400 million purchase of Accredited Home Lenders Holding Co, said Thursday it was prepared to buy the struggling subprime mortgage lender for a reduced price.
Stocks closed mostly lower after a day of choppy trading as investors worried whether Federal Reserve Chairman Ben Bernanke would signal a possible interest rate cut during a speech Friday morning. Volume was very light but without extreme volatility," said Scott Fullman, director of investment strategy, for IA Englander.
Tomorrow is the end of the month, significant for several reasons, including: 1) end of the quarter for a number of brokerages, including Morgan Stanley, Bear Stearns, and Lehman Brothers, and 2) a large amount of asset-backed commercial paper (ABCP) will be rolling over.
H&R Block said Thursday it is renegotiating the sale of its money-losing Option One Mortgage Corp subprime lending unit to Cerberus Capital Management, casting doubt on the largest U.S. tax preparer's ability to complete the transaction.
Now that the market has settled a bit, Cramer went back to his normal Game Plan strategies. Here are his takes on Dollar Tree, Freddie Mac, H&R Block, Dell and Sears Holdings.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
The U.S. mortgage and credit crisis deepened on Wednesday as Accredited Home Lenders , HSBC Holdings and Lehman Brothers announced job cuts, and concern mounted about the longer-term impact on the economy.
H&R Block said on Wednesday its Block Financial unit tapped working capital credit lines twice as a skittish market cuts off its access to short-term debt financing.
Warren Buffett's Berkshire Hathaway has just revealed its portfolio holdings for the second quarter. New additions: Bank of America and Dow Jones, plus increased stakes in some healthcare names.
Cramer doesn't want investors making the same mistake he did in 1998. It's better to be an opportunistic buyer than a scared seller.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
H&R Block, scrambling to sell its money-losing Option One Mortgage unit to a hedge fund, Thursday said the transaction might not be completed until its fiscal third quarter.
The five foundations billionaire Warren Buffett has pledged most of his $49 billion fortune to received their second annual gifts of Class B shares of Berkshire Hathaway on Monday.
Richard Breeden, a hedge fund investor and former chairman of the Securities and Exchange Commission, told CNBC he plans to seek three board seats at H&R Block, saying the tax preparer's move into other businesses was hurting the company.
If you can find a stock that both Buffett and Cramer agree on, you’ve probably got yourself a winner.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Stocks closed higher as investors were encouraged by solid economic data amid a broad rally in technology stocks. "We were pretty oversold yesterday," said Tom Schrader, managing director of US listed trading at Stifel Nicolaus. "We had some good news from the tech sector which propelled the Nasdaq higher."
H&R Block swung to a fourth-quarter loss Thursday as the continuing struggles of its mortgage lending arm offset higher revenue in its tax and financial services divisions.
The subprime search: When the year began, the word “subprime” wouldn’t have registered a blip on anyone’s radar. I think it’s safe to say that certainly isn’t the case now, thanks to the troubles of New Century Financial, and other lenders who dealt with people with less than perfect credit. Now, whenever we see a headline involving mortgages, we all think the same thing: Subprime? We asked that question twice in the past two days -- and the answer was “yes” both times.