Wednesday, June 11, 2014

Morning Movers: H&R Block Gains on Earnings; Penn Virginia Drops on Offering

The S&P 500 fell by a touch yesterday. It’s loss could be much bigger today after the World Bank lowered its growth forecast for the global economy.

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S&P 500 futures have dropped 0.5%, while Dow Jones Industrial Average futures have fallen 0.4%. Nasdaq Composite futures have declined 0.5%.

Shares of H&R Block (HRB) have gained 4.1% to $31.99 after the tax-preparer beat earnings and revenue forecasts.

Boeing (BA) has dropped 0.9% to $136 after RBC downgraded the stock to Sector Perform from Outperform.

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Penn Virginia (PVA) has fallen 4.3% to $13.50  after it announced a private offering of “depositary shares” after yesterday’s close.

Delta Air Lines (DAL) has fallen 1.5% to $41.30 after German airline Lufthansa lowered its profit forecast for the next two years, rattling Delta shareholders.

Bank of America (BAC) has dropped 1.3% to $15.72 after settlement talks with the DOJ hit a snag.

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