On Air Now

Current Show

Mark Levin Show   6:00 PM - 9:00 PM

Call Mark now at 1-877-381-3811

Show Info »

Upcoming Shows

Program Schedule »

Listen

Listen Live Now » 590 AM Kalamazoo, MI

Weather

Current Conditions(Kalamazoo,MI 49001)

More Weather »
64° Feels Like: 64°
Wind: SW 8 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Tonight

Mostly Clear 53°

Tomorrow

PM Thunderstorms 77°

Sun Night

Scattered Thunderstorms 61°

Alerts

Genworth CEO hints at split of company

(Reuters) - Mortgage insurer Genworth Financial is taking steps to possibly split up the company, said its Chief Executive Michael Fraizer on a post-earnings conference call, sending its shares up 6 percent on Friday afternoon.

Fraizer said it would make sense splitting the company into two, but added that its not a "strategy to execute in the near term."

To enable a possible split, Fraizer said they were thinking of realigning some of their businesses, bringing down debt and "transitioning certain business platforms toward more stand-alone capital structures."

Genworth shares were trading up 5 percent at $8.23 on Friday on the New York Stock Exchange.

(Reporting by Rachel Chitra & Brenton Cordeiro in Bangalore; Editing by Roshni Menon)

Comments