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Stock Market & Financial Investment News

News Breaks
December 11, 2012
08:45 EDTGNWGenworth names Thomas McInerney as president and CEO effective January 1, 2013
McInerney most recently served as an advisor to The Boston Consulting Group.
News For GNW From The Last 14 Days
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July 31, 2014
19:35 EDTGNWGenworth provides additional disclosure on long term care insurance
Genworth Financial announced on July 29 that it is conducting a comprehensive review of its long term care insurance claim reserves. Many of the company's investors have asked for additional information about the last in-depth review of the claims reserve, which was conducted in 2012. The company cannot predict how the results of the current review will compare with the results of its review in 2012. As a result of the 2012 claims review, the company established refinements to its claim reserves to reflect how a claim transitions by diagnosis and care facility, trends in benefit utilization, and refinements to claim terminations. The impact to GAAP claim reserves as a result of the new methodology was an increase to reserves of approximately $166M as of September 30, 2012. Separately, the company also made changes to claim reserves to appropriately reflect waiver of premium benefit, shared policies where both lives are on claim, reinsurance on incurred but not reported claims, and the valuation interest rate. The impact to GAAP claim reserves as a result of these changes was a decrease to reserves of approximately $165M as of September 30, 2012. The net impact to GAAP claim reserves as a result of the 2012 claims review was a net increase to reserves of approximately $1M as of September 30, 2012. The primary areas of focus in the current review are an analysis of potential causes of the meaningful increases in adverse claims experience in Q2 and an assessment of the assumptions and methodology underlying the associated reserves, including morbidity, mortality, interest rates and claim terminations. The company intends to complete this review before the release of financial results for Q3. The company continues to believe that the existing assumptions and methodology provide the most reliable best estimate. However, given the review underway that will consider both long-term and recent experience, the company will likely change some of its assumptions, which could increase our long term care insurance claim reserves, and any increase may or may not be material.
July 30, 2014
17:12 EDTGNWOn The Fly: Closing Wrap
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12:27 EDTGNWOn The Fly: Midday Wrap
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12:16 EDTGNWStocks with call strike movement; GNW LEN
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10:00 EDTGNWOn The Fly: Analyst Downgrade Summary
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09:38 EDTGNWActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL AMZN TWTR NFLX GILD C MA FB RFMD AMGN GNW TSLA
07:59 EDTGNWGenworth downgraded to Neutral from Outperform at Macquarie
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July 29, 2014
17:10 EDTGNWGenworth reports Q2 EPS 35c, consensus 35c
Reports Q2 revenue $2.42B, consensus $2.36B. Reports book value per share $32.68 vs. $29.76 last year.
15:53 EDTGNWNotable companies reporting after market close
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