Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of mortgage and life insurer Genworth Financial
So what: If you're looking for signs that the housing market is still struggling (as if it's not obvious enough), look no further than Genworth's results. While profit in the company's retirement and protection segment -- which includes life insurance, long-term-care insurance, and wealth management -- fell during the quarter, the loss on its U.S. mortgage insurance business got much uglier, widening to $152 million this year from $116 million last year. Overall operating earnings per share were $0.06, well short of analysts' expectation of $0.25.
Now what: The private mortgage insurance industry has been a fierce front in the housing fracas, and mortgage insurers have been one of the hardest-hit groups. Yesterday, Genworth competitors PMI Group
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