AOBC - Stock Market News: H&R Blocked; American Outdoor Misses the Target
Wall Street finally saw a break in its pattern of being up one day and down the next, but investors weren't necessarily pleased about it. Further declines on Friday morning followed Thursday's steep drop, with market participants continuing to focus their attention on the coronavirus outbreak. As of 11 a.m. EST, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 372 points to 25,750. The S&P 500 (SNPINDEX: ^GSPC) fell 53 points to 2,971, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) dropped 147 points to 8,591.
Even as the health crisis gets more serious, companies continue to release their latest financial results. Tax preparation specialist H&R Block (NYSE: HRB) didn't have the best news from the middle of tax season, and Smith & Wesson owner American Outdoor Brands (NASDAQ: AOBC) wasn't able to give shareholders the bull's eye they were looking to see.
Shares of H&R Block were down 11% Friday morning after the tax preparer released its fiscal third-quarter financial results. Despite seeing some signs of growth, the company wasn't able to deliver on the bottom line.