Shares of Bofl were gaining 12.7% to $83.90.
The move will move the tax preparation company out of the banking business. H&R Block expects the deal to dilute its full-year 2015 earnings by 7 cents to 9 cents a share. The company will incur a one-time charge of 1 cent share in FY2014, and another charge of between 2 cents and 3 cents a share in FY2015.
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TheStreet Ratings team rates BLOCK H & R INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate BLOCK H & R INC (HRB) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its good cash flow from operations and notable return on equity. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, generally higher debt management risk and relatively poor performance when compared with the S&P 500 during the past year."