H&R Block had its best tax season ever!
The company prepared taxes for over 23.5 million clients, bringing in $3 billion of revenue. The influx of business allowed H&R Block to post a profit of $543 million for their fiscal fourth quarter. This is a huge reversal from last year’s loss of $85 million for the same period.
H&R Block […]
I watched some video footage this morning of a well-dressed gentleman with a poster board for a vest, walking up Park Avenue.
He is not a panhandler with a passion for fashion, he is passing out copies of his resume.
The white vest reads “Experienced MIT grad for hire” with his name, phone number and e-mail address handwritten below.
Joshua Persky, a financial […]
Economists and analysts are predicting that a bear market will arrive some time next week. The pessimistic sentiment that accompanies such a market arrived some time ago.
The general consensus on how low the market must go to declare a bear market is at least 20 percent from its high. There is no consensus on the time frame in which […]
This summer will go down in history as the summer of discontent…at least amongst analysts following the big banks!
Earlier this month, Credit Suisse downgraded Lehman from outperform to neutral. Earlier this week, analysts at Goldman Sachs issued a series of scathing reports taking aim at the nation’s brokers, issuing particularly negative assessments regarding Citigroup.
Today, Citigroup analysts retained a sell rating […]
Goldman Sachs picked up right where it left off yesterday by releasing a new set of downgrades.
Today’s bad news is for brokers and the auto industry.
Analysts downgraded shares of Citigroup and added the company to its “conviction sell” list. Other companies recently added to this dubious list include: Boeing, Trina Solar and Logitech International.
Goldman Sachs expects Citi to […]
Shares of Boeing are down over six percent after analysts at Goldman Sachs downgraded the company from “neutral” to “sell.”
High oil prices have taken a toll on the airline industry and as a result, analysts expect Boeing to see fewer orders and therefore, fewer sales dollars.
Hopefully this downgrade is valid. In early May, Goldman upgraded […]
In one of few bright points in today’s morning session, Eastman Kodak has announced plans to buyback up to $1 billion of its outstanding stock.
News of the buyback sent shares flying as high as $14.45, representing a 17 percent increase from yesterday’s close of $12.34 per share.
Buybacks usually indicate a firm’s belief that shares are currently undervalued […]
This week, Citigroup will begin to dismiss roughly 6,500 workers from its investment bank division.
Record write-downs and mounting losses have led Citigroup to engage in several cost cutting measures. The company has lost roughly $15 billion in the past two quarters. The pending job cuts will reduce Citigroup’s investment bank division by about ten percent.
Citigroup released a statement […]
No one I know is laughing about high gas prices, but several people are making light of the pain we all experience at the pump. Here are a few jokes I have come across:
A woman told her boyfriend, “I want you to take me out, somewhere really expensive for a change.” The man thought for a minute and […]
The Dow sank as much as 140 points heading into mid-day, and sits below the 12,000 barrier broken earlier this week.
There could me many reasons for the decline: rising oil prices, downgrades, shaky earnings, or perhaps risky witches.
Risky witches? Yes, today is a special day for witching and in a Harry Potter-esque scene witches from all over the world have […]
Where talk is money.
Written by Tisa Silver [email] for b5media.
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