H&R Block posts Q3 loss on mortgage woes
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H&R Block Inc. , the largest  U.S. income tax preparer, reported a quarterly net loss on  Thursday, weighed down by the subprime mortgage unit it has put  up for sale, but revenue from its tax and banking businesses  rose sharply.
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Net income at the bank fell to $1.69 billion in the third quarter, hurt by write-downs related to difficult credit market conditions.
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H&R Block Inc , the largest  U.S. tax preparer, said it was trying to renegotiate the sale  of its Option One Mortgage Corp unit and would get out subprime  lending after its quarterly loss more than doubled.
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H&R Block Inc.,  the largest U.S. income tax preparer, said on Tuesday that it expects to delay filing its quarterly results with regulators after turmoil in the subprime mortgage market forced it to write down assets at its Option One Mortgage Corp. unit.
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HOUSTON - Oilfield services giant Halliburton Co. on Tuesday swung to a loss in the third quarter ended Sept. 30, hurt by hefty charges from discontinued operations related to the settlement of asbestos and silica claims.
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H&R Block Inc. , the largest  U.S. tax preparer, on Thursday cut its full-year earnings  outlook and said its quarterly loss more than quadrupled, hurt  by an increase in mortgage delinquencies.
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The investment bank said 3rd-quarter profit fell to $1.54 billion, hurt by a global credit crisis that cut into stock trading, corporate lending, and results from investments.
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KB Home  on Thursday posted a  fiscal third quarter loss, as the U.S. home market suffered a  deepening decline in demand, a swelling supply of homes for  sale and tighter standards in the mortgage market.
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Top U.S. tax preparer H&R Block Inc  said on Thursday the borrowing capacity under its committed lines of credit might not be sufficient to meet its financing needs and it might need to issue added debt or equity securities to meet future requirements.
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U.S. stocks closed lower for the third straight session on Tuesday as higher bond yields raised concerns about borrowing costs and more fallout from the subprime mortgage market kept investors on edge.
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Countrywide Financial Corp , the battered mortgage lender being acquired by Bank of America Corp , posted a larger-than-expected fourth-quarter loss on Tuesday, as a sinking housing market caused more borrowers to fall behind on payments.
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Capital One Financial Corp,  a credit card issuer and banking company, posted a third quarter net loss, hurt by charges from shutting down its GreenPoint Mortgage business.
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JPMorgan Chase & Co said on Wednesday quarterly profit fell a worse-than-expected 24 percent as the No. 3 U.S. bank lost $1.3 billion on risky mortgages and set aside more money for rising losses on home-equity loans.
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A day after H&amp;R Block Inc. (HRB.N: Quote, Profile, Research) reported its first-quarter loss some analysts wondered if the largest US tax preparation firm would consider selling its brokerage business.
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Top U.S. tax preparer H&R Block Inc   said on Thursday the borrowing capacity under its  committed lines of credit might not be sufficient to meet its  financing needs and it might need to issue added debt or equity  securities to meet future requirements.
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JPMorgan Chase & Co  said on Wednesday quarterly profit fell a worse-than-expected 24 percent as the No. 3 U.S. bank lost $1.3 billion on risky mortgages and set aside more money for rising losses on home-equity loans.
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U.S. stocks slid on Thursday as worries about bad mortgage debts hit bank shares and a warning from home builder Toll Brothers Inc.  reignited concern about weakness in the housing market.