“Here’s Why Genworth Financial Is Soaring Today,” by Matthew Frankel, Motley Fool

 

Quote:

“Thursday is shaping up to be a relatively calm day for the stock market, but one stock that is seeing a major upside move is Genworth Financial (NYSE:GNW). As of 10:45 EDT, the mortgage and long-term care insurance company was higher by nearly 16%. … The company issued an update to shareholders Wednesday afternoon, stating that China Oceanwide has informed them that the $1.8 billion financing arrangement they’re relying on has been successfully extended through the end of June, which is the current deadline for the transaction to be finalized. The company also reiterated that both parties remain committed to closing the deal toward the end of May.”

 

 

LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):

The saga continues.