Diamonds and Dogs
H & R Block (HRB) breaking out to new highs. The tax preparer is up 10% to a new 52 week high following better than expected earnings. Net income from continuing operations increased 10% to $421 million while sales only rose 1.3% year over year to $2.33 billion. The company announced that the Board of Directors approved an increase in its quarterly dividend of 9%, to $0.24 per share.
Hawaiian Holdings (HA) not so sunny today. The Hawaiian airline is down 10% giving up its gains for the year on a downgrade and news rival, United Continental (UAL) would be adding more flights to Hawaii. United said it is increasing service on 11 routes offering customers a greater number of flights between the mainland and the Hawaiian islands than any other carrier. Stifel downgraded Hawaiian stock to "sell" from "hold," with a price target of $40, below its previous target of $60.
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