Genworth Financial Inc (GNW)

[Joe Stocks]

Bingo! Finally!

Congrats all longs!

[Saskey]

Nice spike to 3.40 and my shares sold. Happy vacation return

[Joe Stocks]

Bought some May $3 calls at .13-.15.

Should be getting news soon that CFIUS ruled up or down. Not sure what day they filed, but with a the 30 day application with 45day inspection that should put us somewhere around this week or next for hearing something good or bad.

[Joe Stocks]

China pledges to allow more foreign investment in financial sector by year-end
PBOC Governor Yi Gang said that China will allow foreign firms to compete on an equal footing with domestic companies in the sector.
The central bank also confirmed it wants to set up a planned trading link between its stock markets and London by end-2018.
China will raise foreign ownership limits to 51 percent in securities, fund management, futures and life insurance companies "over the next few months.

[Joe Stocks]

My news feed show news item that China plans to open up their insurance industry. Says US insurers gain on the news. Hmm... Could this be in response to helping the GNW deal go through? Sorry. My news feed does not allow for links.

[Afterhoursearnings3]

Should be at 4$ by now...EPS is strong here and even on a conservative basis 4$ is easy.

[Afterhoursearnings3]

In here for a starter...think this has legs to 4$

[Joe Stocks]

Vanguard just reported increasing their ownership by 9.69%. Now own 8.58%

[Craig305]

Zacks just changed their rating on this to a Strong Sell.
Not looking good.
Guess i can stop looking at this as a possible investment.

[Craig305]

What's the deal with the merger and $5 target price?
Why is this falling? Impatience?

[vhgier]

numbers look fine we should go higher today 5-10 cents...min.

[beast of wall street]

GNW will move higher soon.

[Belek]

GNW--Is this headed back to $5.30 by fall?

One sharp trader thinks so, purchasing 7500 GNW Sept 4 calls for .48cents@
ringing up a tab of $360,000. Break even is at $4.48, does this trader
know something we don't?

[vhgier]

I still believe the deal will go thru. It seems the only way to go for GNW

[realfast95]

I think they were conversions from one class to common class.
But yes, a form of golden parachute.

[vhgier]

I saw some filings today for more paper for the higher ups. Great gig....when I grow up I wanna be a CEO and write my own ticket. You think they ever read these message boards? Gosh I hope so kids.....

[realfast95]

The next catalyst should be sale of life insurance and fixed annuity products

[realfast95]

RICHMOND, Va., March 7, 2017 /PRNewswire/ -- Genworth Financial, Inc. (NYSE: GNW) today announced that at its special meeting of stockholders held earlier today, stockholders adopted the previously announced merger agreement with China Oceanwide Holdings Group Co., Ltd. ("Oceanwide"), whereby Oceanwide will acquire Genworth through Asia Pacific Global Capital Co. Ltd., one of Oceanwide's investment platforms. Approximately 96 percent of votes cast were voted in favor of the merger, which represents 71 percent of Genworth's total outstanding shares of common stock as of the record date for the special meeting. As previously announced, Genworth and Oceanwide continue to expect the transaction to be completed by the middle of 2017, subject to closing conditions including receipt of required regulatory approvals.

"Genworth's Board of Directors would like to thank its stockholders for their adoption of the merger agreement with Oceanwide, and for their support throughout Genworth's extensive review of strategic alternatives," said James S. Riepe, Genworth non-executive chairman of the board. "We continue to believe that this transaction is in the best interest of all Genworth stockholders and provides stockholders with the best value reasonably available for their interest in Genworth."

President and CEO Tom McInerney added, "The receipt of stockholder approval at today's special meeting is a critical step in the process towards completing the merger with Oceanwide. Both Genworth and Oceanwide have been working together on executing important next steps. We are especially focused on our work with applicable regulators in the U.S., China, and other international markets, whose approvals are needed to close this transaction by the middle of 2017."

Mr. Lu Zhiqiang, chairman of Oceanwide, continued, "Oceanwide is pleased that Genworth stockholders approved the transaction, and continues to work diligently with Genworth to obtain all regulatory approvals and satisfy other necessary conditions to closing."

[vhgier]

as long as interest rates are where they are, we are lucky we getting what we are getting for this company. no yield means no value to anyone including policy holders so if everyone is smart they take the deal and move on before the deal goes dead and we are left with a penny stock...and none of us need anymore of those, agreed?

[Pisd]

I disagree 2 law firms representing the shareholder interest, NOT. Going to drag out more stupid stuff in effort to bleed this even more and longer. Goes lower imo, at least short term. Deal months away...

[petguz]

I agree as well !!

[tsoprano-1]

I agree. Those are frivolous lawsuits that never go anywhere. I have been involved with companies that have been the target of the shilocks and have yet to see one go thru. They troll the companies that are down looking for dissatisfied shareholders.

T

[trendmkr]

Class Action Lawsuit Filed Against Genworth Financial Inc (NYSE:GNW) https://marketexclusive.com/class-action-lawsuit-filed-genworth-financial-inc-nysegnw/72482/?icd1

[petguz]

Those lawsuits are meaningless. The stock is heading higher.

[Pisd]

I bailed for break even here; two lawsuits against the company because the offer is ONLY 50% premium, ONLY 4% more than they think the company is worth.

But honestly I think the market says what the company is worth, and two lawsuits for the company to waste more time and money on, offered huge premium, stinks of predatory lawyers getting paid by the hour to leech off the company; obviously they don't really care about the shareholders they claim to represent???

Seller...

[petguz]

Looking good !!

[tsoprano-1]

Should be done automatically. Probably takes a few days to process after final approval though.

T

[bly03]

Assuming that the merger is approved and the deal gets done:

For tax purposes, would the $5.43/share in cash be treated the same as if the shares were sold for $5.43/share on the open market?

Also, the proxy statement states:

Pursuant to the terms of the merger agreement, if approved, upon completion of the merger, each outstanding share of Genworth common stock immediately prior to the effective time of the merger (other than those owned by dissenting stockholders who timely and properly demand appraisal under Delaware law) would be converted into the right to receive $5.43 per share, in cash, without interest and less any applicable withholding taxes.


So, if I hold my shares in a brokerage account (TDAmeritrade), would this "right to receive $5.43 per share, in cash" happen automatically, or would I need to contact them to tell them I would like to excercise my right to receive $5.43/share?

[Grouse Hunter]

I'm ready for the cash. Would sure be nice to know how the approvals by the regulators are going.

[Pisd]

That was a PROXY MESSAGE to ALL the shareholders. C'mon, let's get 'er done !!

We're gonna need more than just two voters here.

I vote for the cash, tsoprano votes for the cash, what say you?...

Already voted for my cash in August!

T

[tsoprano-1]

Already voted for my cash in August!

T

[Pisd]

SHAREHOLDERS check your email to proxy vote, and VOTE YES to receive 5.43 per share, by MARCH 6th, then take your money in AUGUST when done deal ???

YOUR VOTE COUNTS !!

[tsoprano-1]

Yes.

T

[vhgier]

I assume we all voted yes?

[Pisd]

Giddy up GNW $$ Money in the bank...

[trendmkr]

Proxy Statement To Be Filed By Genworth Financial Inc (NYSE:GNW) In Relation To Merger https://marketexclusive.com/proxy-statement-filed-genworth-financial-inc-nysegnw-relation-merger/70664/?icd1

[Grouse Hunter]

Hope so.

[tsoprano-1]

Shorts, aided by a couple "analyst" reports to help them. They have to cover sometime and that time is running out. Buying opp, imo.

T

[Blackfuture]

I dont know when it bounces back! Just keep buy in 50k of share every down 35 cents.

[Grouse Hunter]

This has been a mess. Seems like the company is worth more than the buyout price and worth way more than the current price. Keeps getting pounded.

[Blackfuture]

Why huge volumes after hour? Free fall tomorrow?

[Pisd]

Offered $5.43, c'mon...

[tsoprano-1]

Good SA article about valuation in GNW.

T

[PEACHMAN]

SPOKE TOO SOON

[vhgier]

Finally moving up again

[robertus]

Ok, it is clear then, thanks.

[Manti]

That is the total of the trades entered as "market on close". Funds sometimes use that type of order because they have to use the closing price of the day on their books. I've used it myself a few times for day trades: sometimes it's easier to fill a larger order for a reasonable price that way: the mm's don't try to run away from you and manipulate you like they do during the day when there is a large order.

I tried to put one in today, but missed the deadline by a few seconds. Glad I missed it, because I ended up selling at 4.06 and buying back below 4 before the close

[robertus]

16.01. 4.02 449k. As I can see on this page

[kmx_swing]

16:22 $ 4.0732 High 448
16:13 $ 4.0685 3,100
16:01 $ 4.01 Low 2,300
16:01 $ 4.02 2,092
16:01 $ 4.02 150
16:01 $ 4.02 132


Read more: http://www.nasdaq.com/symbol/gnw/after-hours#ixzz4On9YxuGf

what big blocks do you mean?

[robertus]

Who is buying big blocks after hours, any idea?