News Source: Stockwire - http://www.stockwire.com
Blackstone Group, General Electric Co. (NYSE: GE), Pearson PLC (NYSE: PSO), for Dow Jones & Co. (NYSE: DJ), H&R Block Inc. (NYSE: HRB)
Blackstone Group's initial public offering is seeing heavy demand from investors vying for shares of the biggest U.S. IPO in five years, which is expected to price on Thursday. Demand for the shares comes even as lawmakers step up pressure to raise the firm's tax bill after the stock's debut. California Democrat Henry Waxman asked the U.S. Securities and Exchange Commission to delay the IPO on Thursday.
http://www.stockwire.com/GE
General Electric Co. (NYSE: GE) said Thursday that it abandoned talks with Financial Times publisher Pearson PLC (NYSE: PSO) about a possible bid for Dow Jones & Co. (NYSE: DJ), removing a potential rival to a $5 billion offer from Rupert Murdoch's News Corp. (NYSE: NWS). GE said it held "exploratory discussions" with London-based Pearson about combining GE's CNBC business news cable channel, Pearson's Financial Times newspaper and Dow Jones, which publishes The Wall Street Journal, Barron's and Dow Jones Newswires, but decided not to proceed.
http://www.stockwire.com/PSO
Trouble in H&R Block Inc.'s (NYSE: HRB) subprime lending unit led the company to report fourth-quarter and full-year losses and predict smaller 2008 earnings than those expected by Wall Street. For the three months ended April 30, the Kansas City-based company said it lost $85.5 million, or 26 cents per share, compared with earnings of $587.5 million, or $1.79, a year earlier. The latest quarter included $676.8 million in losses from discontinued operations, mostly tied to its Option One Mortgage Inc. subsidiary. H&R Block said continuing operations earned $591.2 million, or $1.81 per share, up from $541.7 million, or $1.63 per share, during the same period a year ago. Revenues during the quarter grew 7.9 percent to about $2.35 billion.
http://www.stockwire.com/DJ
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