Internal Revenue Service

9:56 a.m. March 17, 2021 - By Tomi Kilgore
H&R Block's stock pares gains as a delayed tax deadline could push back revenue, increase expensesShares of H&R Block Inc. have pared most of their intraday gains Wednesday, was up just 0.3% in afternoon trading, after for filing taxes by about a month. Earlier, the stock was up as much as 1.6% at the intraday high of $21.07. As BMO Capital analyst Jeffrey Silver explained, although an extended deadline won't affect how many people use H&R Block to file taxes, it will likely reduce revenue for the fiscal fourth-quarter, which ends April 30, and shift it to the fiscal first quarter. In addition, like what happened last year when the deadline was shifted because of a delayed start caused by the COVID-19 pandemic, Silber said H&R Block could some "incremental overlapping expenses," such as extended marketing campaigns. H&R Block's stock has rallied 31.0% over the past three months, while the S&P 500 has gained 6.9%.
1:02 a.m. March 16, 2021 - By Steve Goldstein
Coca-Cola started at buy with $65 price target at RedburnCoca-Cola was started at buy at U.K. broker Redburn with a $65 price target, which said the beverage giant offers exposure to the brand owner and the bottling system, which is an outsourced production model of around 225 bottlers. The next decade will bring 5.5% organic sales growth (50bp ahead of consensus), and 7% organic operating income growth, which is in line with consensus. There is upside optionality from a successful pivot into the alcohol and coffee categories and from refranchising margin-dilutive company-owned bottling assets, the brokerage added. A worst-case result from the Internal Revenue Service case over transfer pricing would lower its price target by $6.
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