Genworth Financial Inc (NYSE:GNW) shares gained 2.99%, Peabody Energy Corporation (NYSE:BTU)

Posted by Beth Hart May 31, 2013 0 Comment 1093 views


Genworth Financial Inc (NYSE:GNW): Thursday’s trading session saw Genworth Financial Inc (NYSE:GNW) rising by 2.99%. The opening price of $10.74 climbed to an intraday high of $11.05 before settling down to close at $11.02 per share. The average volume of 8.83 million was measured over a 30 days.

Of all the main mortgage insurance companies that operate in the market, there are some companies that offer the highest exposure to the mortgage market. Genworth is one of the mortgage insurance companies which have also gone through this phase. Most companies have a significant number of delinquent mortgages pending from the financial crisis. These are exactly the ones that could eventually come back to haunt all the various companies.
The difference between other companies and Genworth Financial Inc (NYSE:GNW) is that its mortgage insurance business accounts only for around 22 percent of its total business. The rest of GNW’s revenue is obtained from various other wealth management services.

Peabody Energy Corporation (NYSE:BTU): Thursday’s trading session saw Peabody Energy Corporation (NYSE:BTU) rising by 0.90%. The opening price of $19.99 climbed to an intraday high of $21.29 before settling down to close at $20.16 per share. More than 0.007 million shares exchanged hands in the last trading session. This number stood below the average volume of 8.06 million that was measured over a 30 days.

Carl Icahn, the activist investor has denied that he holds a stake in Peabody Energy Corporation (NYSE:BTU). This announcement was a response to the large-scale market speculation that Icahn had acquired a large position in this coal company. In an interview, Icahn said that he doesn’t have a single Peabody share and he has no intentions of acquiring any. At one point, Peabody Energy Corporation (NYSE:BTU) was trading 6.6 percent higher at $21.29 on the speculation that Icahn had acquired this position. It pared gains and rose 1.1% to $20.20 in recent trading.

In addition to this, Icahn said that under normal circumstances, he does not talk about any  positions that he holds in any company, but that he is now  tired of all the rumors that are doing the rounds, about his investments.


About Beth Hart

Beth is from New York. She has two master’s degrees and served as a lecturer in B-School. Her master’s degree is an MBA in Global Management from the University of Phoenix (2010). She has worked for small businesses, public agencies, and large corporations. She does write articles as a freelancer.

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