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Genworth Financial, Inc.

5/24/2013, 5:08 PM ET

Quote & Headlines Market Currents StockTalk

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Monday, May 20, 9:34 AM Red-hot mortgage insurers (RND, MTG, GNW) become hedge-fund hotels as analysis of March 31 filings showed a number of well-known funds starting or adding to big stakes. The group is as leveraged to the improvement of the housing market and mortgage credit as anything else out there, says KBW's Bose George. MTG over $5/share (it's over $6 now) is a wager on the government's ability to transform the U.S. housing finance market," says a contrary Jason Stewart. "Historically, this wager has been met with outcomes most ... would classify as massively disappointing." Comment! [Financials]
Wednesday, May 15, 11:50 AM Seth Klarman added two new positions to Baupost in Q1, with Elan (ELN) now 3.5% of his portfolio and DirecTV (DTV) 0.38%. He added to already major positions in BP, AIG, ROVI, and IDIX, and completely sold out of GNW, and ANV. 1 Comment
Friday, May 3, 10:30 AM Mortgage insurance firms continue a nice run, helped by AIG, where income at its mortgage insurance arm (United Guaranty) jumped to $41M from $8M a year ago. On the CC, execs offered a brighter outlook for the business than Genworth (GNW +1.8%) did earlier in the week, reports Erik Holm. In an SA Pro article just released from embargo, SA Pro author Oliver Davies again makes his case for MGIC (MTG +3.8%) over Radian (RDN +3.8%). Comment! [Financials, On the Move]
Tuesday, April 30, 9:03 PM More on Genworth Financial (GNW) Q1 earnings: The U.S. mortgage insurance unit is profitable by $21M in the quarter after racking up about $2B in losses over the last 5 years, including a $32M loss in Q4, and a $44M loss a year ago. Shares +5.8% AH to $10.61, still less than one-third of $32.90/share of tangible book value. Conference call tomorrow at 9 ET. (PR) 1 Comment [Earnings, Financials, On the Move]
Tuesday, April 30, 4:52 PM Genworth Financial (GNW): Q1 EPS of $0.30 inline. Revenue of $2.3B misses by $260M. (PR) Comment! [Earnings, Breaking News, Financials]
Tuesday, April 30, 12:10 AM Notable earnings after Tuesday’s close: ACAS, AFFX, AJG, AMRS, APU, ATLS, AUY, AVB, BCOV, BGC, BLMN, BXP, CAVM, CLD, CRAY, DDR, DENN, DGI, DWA, EEP, EIX, ELGX, ELLI, ENTR, EQR, EZPW, FEIC, FIRE, FISV, FLEX, FMC, FTNT, GDOT, GEVO, GNW, HCBK, HT, HTCH, IACI, INT, JIVE, JLL, JMBA, LEAP, MDU, MERU, MRGE, MSPD, MTW, MWA, MX, NANO, NCR, NUVA, OKE, OKS, PRAA, PRXL, QCOR, QEP, REXX, RGC, RPXC, SGI, SHOR, SIMG, SKT, SM, SONS, STR, SWI, TE, TRMB, TRN, UGI, ULTI, UNTD, UNXL, VNR, VRSK, VRTX, WNC, WRI, WU, XCO Comment! [Earnings]
Monday, April 29, 5:35 PM Notable earnings after Tuesday’s close: ACAS, AFFX, AJG, AMRS, APU, ATLS, AUY, AVB, BCOV, BGC, BLMN, BXP, CAVM, CLD, CRAY, DDR, DENN, DGI, DWA, EEP, EIX, ELGX, ELLI, ENTR, EQR, EZPW, FEIC, FIRE, FISV, FLEX, FMC, FTNT, GDOT, GEVO, GNW, HCBK, HT, HTCH, IACI, INT, JIVE, JLL, JMBA, LEAP, MDU, MERU, MRGE, MSPD, MTW, MWA, MX, NANO, NCR, NUVA, OKE, OKS, PRAA, PRXL, QCOR, QEP, REXX, RGC, RPXC, SGI, SHOR, SIMG, SKT, SM, SONS, STR, SWI, TE, TRMB, TRN, UGI, ULTI, UNTD, UNXL, VNR, VRSK, VRTX, WNC, WRI, WU, XCO 2 Comments [Earnings]
Friday, April 12, 1:13 PM A Bank of America (BAC) request to throw out a lawsuit alleging it took kickbacks from mortgage insurers in exchange for business is denied by a federal judge. Also named as defendants in what lawyers are trying to make a class-action suit are the insurers: RDN, GNW, and United Guaranty (AIG). 2 Comments [Financials]
Thursday, April 4, 12:59 PM Genworth Financial (GNW), Radian (RDN), MGIC Investment (MTG) and AIG's United Guaranty settle with the CFPB, agreeing to pay $15M to resolve allegations they offered kickbacks to mortgage lenders in exchange for business. The insurers neither admitted nor denied wrongdoing. Comment! [Financials]
Wednesday, March 27, 5:49 PM After-hours top gainers, as of 5:15 p.m.: GBX +3%. GNW +3%. LCC +3%. MATX +1.4%. SU +1.1%.
After-hours top losers: ARRY -12%. RHT -9%. FIVE -7%. ESI -6%. PVH -5%. Comment! [On the Move]
Monday, March 11, 9:10 AM Premarket gainers: GNW +8%. MUX +5%.
Losers: NBG -9%. DKS -8%. Comment! [On the Move]
Monday, March 11, 8:09 AM Genworth (GNW) gains 8.2% premarket after a Barron's feature reminds the shares - which have doubled in the last 6 months - could double again and still just trade at book value. Like with RDN and MTG, the surging mortgage market combined with the pullback of the FHA from mortgage insurance will be the key catalyst. 1 Comment [Financials, On the Move]
Thursday, March 7, 9:10 AM One factor behind the soaring prices of the private mortgage insurers (MTG, RDN, GNW) is the pullback of their main competitor, the government. The FHA - under pressure to cut its $16.3B budget shortfall - has raised premiums, with the result being the private group increased market share to 35% in 2012 in Q4 from 26% in Q1. 3 Comments [Financials]
Wednesday, March 6, 2:32 PM Genworth Financial (GNW) is suspending sales of individual long-term health insurance products in California as the company takes a closer look at its ability to cover the costs of nursing homes and assisted-care facilities. The CA business represents 12% of the company's long-term insurance sales. (PR) Comment! [Financials, Healthcare, U.S. Economy]
Tuesday, March 5, 8:12 AM After more than a 50% rise in the past few sessions, MGIC Investment (MTG) +8.4% premarket with Barclays - for 3 years having a Sell rating - turning bullish, with an upside target of $12 on the stock and $1.10 EPS in 2015. Other mortgage insurers continue to party as well: RDN +4.2%, GNW +3.4% premarket. 5 Comments [Financials, On the Move]
Tuesday, February 12, 12:17 PM Radian (RDN) has its price target lifted to $8 from $6 at FBR Capital post-earnings, with analyst Steve Stelmach citing positive guidance from management. A key to growth prospects for private mortgage insurers, says Stelmach, is the FHA pulling back from the business - something also noted by Genworth's (GNW) management. Comment! [Financials]

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