QUOTE AND NEWS
newratings.com  1 hr ago  Comment 
Koenig & Bauer AG : Publication pursuant to §26 sect.1 WpHG (the German Securities Trading Act) with the aim of pan-European distribution Koenig & Bauer AG / Koenig & Bauer AG : Publication pursuant to §26 sect.1 WpHG (the German Securities...
newratings.com  May 13  Comment 
Director's Dealings announcement according to §15a WpHG (the German Securities Trading Act) MorphoSys AG / Director's Dealings announcement according to §15a WpHG (the German Securities Trading Act) . Processed and transmitted by...
TheStreet.com  May 12  Comment 
NEW YORK (TheStreet) -- The potential breakup of insurance giant Genworth Financial is leaving investors unsure of how to value its businesses -- particular long-term care insurance, which is one of its biggest. Richmond, Va.-based...
TheStreet.com  May 12  Comment 
NEW YORK (The Deal) -- Genworth Financial's  sale of part of its stake in its Australian mortgage insurance unit is the first of several expected moves as the life and mortgage insurer looks to reduce its debt and restructure its business....
newratings.com  May 11  Comment 
Biofrontera AG : Notice of report acc. to §§ 37v-x et seqq. WpHG (the German Securities Trading Act) with the aim of pan-European distribution Biofrontera AG / Biofrontera AG : Notice of report acc. to §§ 37v-x et seqq. WpHG (the German...
TheStreet.com  May 7  Comment 
NEW YORK ( TheDeal) -- Genworth Financial  looks unlikely to be able to spin off its mortgage insurance unit even if it manages to sell its life insurance and annuity businesses, according to an analyst who follows the company. Macquarie...
newratings.com  May 7  Comment 
Ad hoc: MorphoSys Acquires Peptide Therapeutic Company Lanthio Pharma MorphoSys AG / Keyword(s): Acquisition / Ad hoc: MorphoSys Acquires Peptide Therapeutic Company Lanthio Pharma . Ad hoc announcement according to § 15 WpHG. Processed and...
newratings.com  May 6  Comment 
MorphoSys AG : Publication pursuant to §26 sect.1 WpHG (the German Securities Trading Act) with the aim of pan-European distribution MorphoSys AG / MorphoSys AG : Publication pursuant to §26 sect.1 WpHG (the German Securities Trading Act)...
Forbes  May 5  Comment 
In early trading on Tuesday, shares of Estee Lauder (EL) topped the list of the day's best performing components of the S&P 500 index, trading up 6.0%. Year to date, Estee Lauder registers a 16.2% gain.




 
TOP CONTRIBUTORS

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
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki