News Summary (HRB, BP, MRK)

H&R Block HRB has announced that Russ Smyth is resigning as CEO with immediate effect. Former interim CEO Alan Bennett will take over from Smyth as President and CEO of the company. In his note to clients, analyst Bill Carcache of Macquarie Securities termed Smyth’s resignation is a “significant blow” to HRB as he was “one of the company’s most valuable assets.” BP BP has quashed reports that indicated that it could possibly plug its leaking Gulf well sooner than expected. The company has stuck to its August timeline for completion of its relief well. In an interview with the Wall Street Journal, the head of BP's Gulf Coast restoration unit, Bob Dudley, said that the company would be able to stop the leak between July 20 and July 27 only under the "very, very best scenario if everything went absolutely superbly according to plan and there are no interruptions, but the expectation is that it will be August.” Merck MRK has disclosed its plans to close eight manufacturing plants and eight research sites around the world. The closures will be a part of MRK’s ongoing consolidation drive, which started after the acquisition of Schering-Plough last November. Read more from Benzinga's Markets.