Stocks declined on Tuesday, extending losses into a second session, as oil rebounded from a five-year low.» Read More
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.
H&R Block said on Tuesday it is shutting down Option One Mortgage's lending business and slashing 620 jobs, as its sale of the struggling subprime mortgage unit to Cerberus Capital Management has fallen through.
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, Friday said the subprime lending unit it is trying to sell has obtained $350 million of new funding capacity from a unit of Royal Bank of Scotland Group.
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.
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.