Macquarie Upgrades Genworth Financial (GNW) to Neutral

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Go back to Macquarie Upgrades Genworth Financial (GNW) to Neutral

Genworth Financial (GNW) Misses Q2 EPS by 2c

August 4, 2015 5:11 PM EDT

Genworth Financial (NYSE: GNW) reported Q2 EPS of $0.24, $0.02 worse than the analyst estimate of $0.26. Revenue for the quarter came in at $2.16 billion versus the consensus estimate of $2.39 billion.

Strategic UpdateIn May 2015, the company sold 92.3 million shares, or approximately 14 percent, in Genworth Mortgage Insurance Australia Limited. On July 22, 2015, the company announced it had entered into exclusive negotiations with AXA S.A. after receiving an irrevocable offer to purchase its lifestyle protection insurance business, which has been previously identified as non-core. These transactions increase the financial flexibility and... More