Topic: Growth Stocks

The Wall Street Stock Forecaster Hotline – Friday, December 7, 2007

Article Excerpt

H&R BLOCK INC. $20.02, New York symbol HRB, has canceled a deal to sell its Option One mortgage business due to the problems in the mortgage securities market and slumping home prices. Instead, the company will wind down its mortgage operations. It also plans to sell its mortgage servicing business, which collects loans on behalf of other lenders. These moves will cost H&R Block about $200 million (pre-tax). To put that in context, the company lost $302.6 million or $0.93 a share in the three months ended July 31, 2007, including a $192.8 million loss from Option One. Despite the extra charges, steadily getting out of the mortgage business cuts H&R Block’s long-term risk, and lets its focus on its core tax preparation, accounting and wealth management operations. H&R Block is still a buy for long-term gains. APPLE INC. $194.30, Nasdaq symbol AAPL, has sold over 30,000 iPhones in France since the phone was launched on November 29. The iPhone is also selling…