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Genworth Financial (GNW)
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Wednesday 5/23 Insider Buying Report: PULS, GNW
Forbes  May 23  Comment 
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one
Genworth Financial Announces Results of Annual Meeting
PR Newswire  May 17  Comment 
RICHMOND, Va., May 17, 2012 /PRNewswire/ -- Genworth Financial, Inc. (NYSE: GNW) announced the re-election of all seven directors nominated at its 2012 annual meeting of stockholders today. The board members re-elected were Steven W. Alesio, William
Altegris Advisors Launches Equity Long Short Fund
PR Newswire  May 17  Comment 
LA JOLLA, Calif., May 17, 2012 /PRNewswire/ -- Altegris Advisors (www.altegris.com) is pleased to announce the launch of the Altegris Equity Long Short Fund (Ticker: ELSAX). This Fund aims to generate and capture alpha on the long and short side of
Analyst Moves: LRCX, GNW
Forbes  May 16  Comment 
Lam Research (LRCX) was downgraded today by JP Morgan (JPM) to underweight from neutral with a price
Genworth Names Tata Consultancy Services Limited (TCS) Strategic Supplier of the Year
PR Newswire  May 15  Comment 
RICHMOND, Va., May 15, 2012 /PRNewswire/ -- Genworth Financial, Inc. (NYSE: GNW) today announced that Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) is the recipient of its 2011 Strategic Supplier Partnership Initiative (SSPI) award. The
Genworth to pay ex-CEO Fraizer $2.25 million lump sum
Reuters  May 14  Comment 
Life and mortgage insurer Genworth Financial Inc will pay former Chief Executive Michael Fraizer a lump sum of $2.25 million as part of a separation agreement reached on Monday.
Broadcast Information For Genworth Financial 2012 Annual Meeting Of Stockholders
PR Newswire  May 10  Comment 
RICHMOND, Va., May 10, 2012 /PRNewswire/ -- Genworth Financial, Inc. (NYSE: GNW) will offer a listen-only broadcast of its 2012 Annual Meeting of Stockholders to be held at 9:00 a.m. (ET), May 17, 2012. The broadcast will be accessible via telephone
Here Are 2 Stocks Surging In Today's Sell-Off (GNW, M, WYNN, C, DF, XL)
Clusterstock  May 9  Comment 
Markets are turning around, as the Dow was down 160 earlier today.  It's now down by around 60 points. The Nasdaq is down 0.35% and the S&P 500 is down 0.46%. Here are today's winners and losers. Losers: Genworth Financials Inc. (GNW):...
Genworth Financial Cuts About 80 Positions at Virginia Offices
Insurance Journal  May 8  Comment 
Genworth Financial Inc. has cut nearly 80 positions at two Virginia operations. The move comes days after the Richmond-based company’s chairman and CEO, Michael D. Fraizer, resigned. Genworth spokesman Tom Topinka told the Richmond...




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Genworth Financial (NYSE: GNW) provides domestic and international mortgage insurance, long-term care insurance, and life insurance products. Genworth's exposure to some of the recently maligned companies (like Fannie Mae (FNM), Freddie Mac (FRE), American International Group (AIG), Lehman Brothers (LEH), and Washington Mutual (WM)) totals roughly $630 million.[1]

In February 2008, Genworth reported a $93 million write-down due to underestimated risk in its actuarial models as well as losses due to investments in subprime securities.[2] Over the past year, Genworth's stock has steadily fallen from a high of 31.77 per share to a low of 4.85 per share as of September 29, 2008.[3]

That said, the company has maintained its "AA" credit rating while many of its competitors have been reduced to "A" ratings.[4] It maintains approximately $800 million in cash and has a roughly $1.8 billion credit facility available.[5] The company has even continued to issue a $0.10 quarterly dividend.[6]




References

  1. ↑ "Genworth says it may spin off its mortgage insurance business, MarketWatch, September 30, 2008
  2. ↑ "Zacks Industry Rank Analysis Highlights: AIG, FLIR, GNW, LNC, and NOC", BNET, February 14, 2008
  3. ↑ Google Finance GNW Page
  4. ↑ "Deutsche Bank analyst: Genworth well-capitalized", Forbes, September 26, 2008
  5. ↑ "Conseco shares slump 40% on exposure to AIG, Lehman, WaMu, ShareBuilder, September 17, 2008
  6. ↑ Reuters Key Development GNW
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