In today’s trade H&R Block’s (NYSE:HRB) stock fell by around 1.5% soon after it announced the discontinuation of refund back loan offers to its customers. The move follows faster refunds by the Internal Revenue Service — IRS.
However, the stock recovered because of favorable news from its subsidiary TeamHealth, which is about to acquire the operations of Anesthesia services. It has also caused a sudden spurt of more than 300% in the volume of trade. Currently the share is facing some stiff resistance between $13.25 and $13.30.