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Updated from 1:53 p.m. EDT
Financial stocks largely foundered in negative territory Thursday as numerous names were crushed by various negative news.
Tax preparer H&R Block (HRB Quote) traded heavily, sliding 3.3% to $22.04 after swinging to a GAAP-based loss due to its struggling subprime mortgage-lending unit, which the firm agreed to sell in April.
Excluding the heavy impact of that business, the firm made just $1.81 a share -- up 18 cents from last year but 7 cents below the consensus estimate from Thomson Financial. Full-year earnings widely missed, coming in at 99 cents a share vs. the expected $1.17. Looking ahead, fiscal 2008 income should miss by at least 2 cents. ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
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