Tough times for Genworth Financial (GNW) shareholders. The name was one of the worst performing stocks in Q2 and unfortunately Q3 might not be much better. The name was punished again, down over 9% at some points, after several disappointing comments made by acting CEO Martin Klein during Tuesday’s Q2 earnings call. Mr. Klein noted that a spinoff… Read More »
While individuals don’t have to worry about month or quarter end performance, it can be interesting to see which sectors or individual stocks have been performing exceptionally well or particularly poorly. It is even more interesting to us here when spinoff related names reside within those ‘best’ or ‘worst’ lists such as this past Q2 when spinoff related… Read More »
Breakups seem to have become activists’ favorite tools when faced with an underperforming company. Following John Paulson’s pressure to Hartford to spin off its life business, Highfields Capital has disclosed it is in talks with Genworth Financial(GNW) with options that may include a spinoff of its mortgage insurance business. Highfields, a Boston-based hedge fund still run by co-founder… Read More »