Shares of H&R Block popped after it posted better than expected fourth quarter profits. It was helped by an increase in online business and higher prices for its services. Also a late start to tax season helped higher prices for its services. Also a late start to tax season helped pull revenue into its latest quarter. The stock rose more than 4.5 percent to $32.15.
Caterpillar is upping its quarterly dividend by 17 percent to 70 cents a share. The machinery maker will pay that to shareholders at the end of July. Despite the move, shares fell a fraction to $108.69.
Shares of Orexigen Therapeutics tumbled on news of a Food and Drug Administration decision about the company’s obesity drug. Regulators are delaying their approval for the weight-loss treatment for three months in order to consider post-marking obligations and safety monitoring. The stock fell more than 14.5 percent to $5.81.
Starbucks & Apple
The European Union has launched an investigation into the tax relationships Apple and Starbucks have with some European countries. The probe will address whether or not the companies dodged any taxes or violated any tax laws. Despite that, shares of Starbucks rose a fraction to $74.80, but Apple shares were off a bit to $93.86.
Lululemon’s founder and biggest shareholders, Chip Wilson, turned on the company’s board today. Wilson announced he voted not to re-elect a chairman and one other director. But despite Wilson’s opposition, the retailer voted for both re-elections. The stock dropped 2.5 percent to $44.30.