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DailyFinance  29 min ago  Comment 
NEW YORK, NY--(Marketwired - August 29, 2014) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Genworth Financial, Inc. ("Genworth" or the "Company") (NYSE: GNW) of the October 20, 2014 deadline to seek the role...
newratings.com  11 hrs ago  Comment 
Total number of voting rights in accordance with § 26a WpHG ADVA Optical Networking SE / Total number of voting rights in accordance with § 26a WpHG . Processed and transmitted by NASDAQ OMX Corporate Solutions. The issuer is solely...
newratings.com  Aug 29  Comment 
MorphoSys AG : Publication pursuant to §26a WpHG (the German Securities Trading Act) with the aim of pan-European distribution MorphoSys AG / MorphoSys AG : Publication pursuant to §26a WpHG (the German Securities Trading Act) with the aim of...
DailyFinance  Aug 25  Comment 
NEW YORK, NY -- (Marketwired) -- 08/25/14 -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased Genworth...
newratings.com  Aug 22  Comment 
Director's Dealings announcement according to §15a WpHG (the German Securities Trading Act) Koenig & Bauer AG / Director's Dealings announcement according to §15a WpHG (the German Securities Trading Act) . Processed and transmitted...
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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)...
newratings.com  Aug 20  Comment 
Ad hoc: Biofrontera AG files litigation against former supplier Biofrontera AG / Keyword(s): Misc. matters / Ad hoc: Biofrontera AG files litigation against former supplier . Ad hoc announcement according to § 15 WpHG. Processed and transmitted...
newratings.com  Aug 19  Comment 
Ad hoc: MorphoSys and Emergent BioSolutions Sign License Agreement to Co-Develop and Commercialize Prostate Cancer Drug Candidate ES414 MorphoSys AG / Keyword(s): Contract / Ad hoc: MorphoSys and Emergent BioSolutions Sign License Agreement to...
DailyFinance  Aug 19  Comment 
Kirby McInerney LLP announced today that it has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of investors who acquired Genworth Financial, Inc. ...




 
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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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