GNW - Genworth Financial, Inc. (NYSE Stock) - Stock Market Forum, Penny Stocks, FOREX, NASDAQ, AMEX, NYSE, Live Chat

**Volatile22** · #1 09-30-2008, 04:34 PM

Didn't see a thread out there for this one.

GNW: Summary for GENWORTH FINANCIAL - Yahoo! Finance

Genworth says it may spin off mortgage insurance business - MarketWatch

Any opinions about this news? Currently trading at 8.29 up 65% today. Looks like they have good liquidity, 800million in cash and cash equivalents.

This one used to trade up in the 30's. I saw it today at 6.xx and didnt pull the trigger, I am kicking myself now.

**BadThad** · #2 09-30-2008, 04:41 PM

AHhhh.....thanks for the thread man. I was looking at this one a few months ago and forgot. I need to re-DD it!

**Volatile22** · #3 09-30-2008, 04:51 PM

Quote:

Originally Posted by BadThad

AHhhh.....thanks for the thread man. I was looking at this one a few months ago and forgot. I need to re-DD it!

No problem bud! I will be looking more closely at this one as well.

**BadThad** · #4 09-30-2008, 05:13 PM

Love this quote I just found:

Quote:

The company has seen some wild trading of late, dropping below $5 10 days ago, then jumping up to $15 and then back to $5 yesterday. The stock is up nicely today, but the volatility should be a sign for long-term investors to hold off for now. The stock's unpredictable price moves need to settle down before looking at the company for any potential position.

Hey....that's EXACTLY what I'm looking for! LMAO

More:

Quote:

NEW YORK (Reuters) - Genworth Financial Inc (GNW.N: Quote, Profile, Research, Stock Buzz) said on Tuesday it is looking at strategic alternatives for its U.S. mortgage insurance business, including spinning it off as a stand-alone entity.

The Richmond, Virginia-based company said it wanted to "determine the optimal course of Genworth, its customers and shareholders," in a statement.

Genworth shares jumped 35 percent in early trading on the New York Stock Exchange, rising to $6.77. The stock has fallen nearly 80 percent over the last year.

U.S. mortgage insurers have been hit hard as homeowners have fallen behind on loan payments, and fewer mortgages are being issued as lending practices have tightened.

Mortgage insurance policies cover U.S. lenders in the event of default by a borrower who makes a down payment of less than 20 percent. In this environment, mortgage insurers have been seeking ways to shore up capital.

Genworth, which also offers long-term care insurance, retirement products and wealth management services, said it has taken steps to make sure it is not hit by a cash crunch. It has reduced its commercial paper borrowings to $79 million, and has more than $800 million in cash or cash-like assets in the holding company and $4 billion in its operating companies.

In addition, the company has "substantial" credit facilities, it said.

**BadThad** · #5 09-30-2008, 05:14 PM

WOW....for today....arrrgggg....I missed this boat:

Day's Range 5.71 - 10.50

**Volatile22** · #6 09-30-2008, 05:23 PM

Quote:

Originally Posted by BadThad

WOW....for today....arrrgggg....I missed this boat:

Day's Range 5.71 - 10.50

yea tell me about it. I was watching it at 6.xx and was doing some DD and really liked it but didnt pull the trigger. That was a mistake and cost me some $$$.

I am really liking the part about 800 million in cash. A company that has that much liquidity, especially in this market, is a good thing IMHO.

**BadThad** · #7 09-30-2008, 05:25 PM

OK, enough DD....I'm buying this tomorrow. The TA and fundamentals look great. The PPS is well below even the 9MA, it's screaming BUY to me. On recovery, this stock should get back into the 20's IMO.

**Volatile22** · #8 09-30-2008, 05:28 PM

Quote:

Originally Posted by BadThad

OK, enough DD....I'm buying this tomorrow. The TA and fundamentals look great. The PPS is well below even the 9MA, it's screaming BUY to me. On recovery, this stock should get back into the 20's IMO.

Awesome! good to see someone, who is better than me at all this, agrees with my initial thoughts. I am interested to see if we have some pull back tomorrow after all of these increases. If so, might be a good time to pull that trigger.

**BadThad** · #9 09-30-2008, 06:43 PM

I'm going to watch it closely and try an early limit order at like $5-6....just in case we get a drop tomorrow.

**BadThad** · #10 10-01-2008, 11:41 AM

Dropping like a lead balloon today....down over 15% today. I'm watching this closely and have a limit order for $6.50....but if it keep dropping this fast, I may drop it to $6.