Finally! Some Good Earnings Reactions For Genworth Financialhttp://www.fool.com/investing/general/2014/02/05/finally-some-good-earnings-reactions-for-genworth.aspx Jessica Alling
February 5, 2014
Genworth Financial (NYSE: GNW) took a tumble following its third-quarter earnings report, despite tripling its bottom line year-over-year. Did the fourth quarter have the same fate in store for the insurer?
Ending on a high note
With the good news coming across the board, investors rewarded the company with a 1.61% increase during the trading day. And as of 8:00pm Tuesday evening, the stock was up another 4.4% in after-hours trading -- most likely in anticipation of the insurer's conference call the following morning before the market opens.
Genworth Financial has been in the midst of a turnaround for quite some time, mostly hinged on the improvement of its long-term care products through both various new offerings and improved profitability through pricing increases. The company started the LTC project with an estimated $265-$300 million increase in premium rates through 2017, but it needed state regulatory approval.
Home is where the heart (and profit) is
But increasing interest rates have some concerned that the housing boom is over -- leaving the PMIs to find new ways to boos