This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Mortgage Winners: MGIC, GenWorth, Radian

MILWAUKEE, Wisc. ( TheStreet) -- It might seem hard for a mortgage company to lose more money in the fourth quarter than many Street analysts expect and still end the day up by close to 10%, but MGIC Investment (MGT) engineered that feat on Tuesday.

Shares of MGIC Investments ended Tuesday with a gain of 9.6%, or 58 cents to $6.64, and almost three times the mortgage company's normal level of trading -- 11.6 million shares traded versus an average daily level of close to 3.9 million shares traded.

The fourth quarter earnings report from MGIC Investment, the largest U.S. mortgage insurer, led to a rally among similar mortgage companies.

Radian Group (RDN - Get Report) was up 4%, and had daily trading volume 2 million share above its normal level.

Genworth Financial (GNW - Get Report), which is a diversified financial company, but whose mortgage business has been the key performance laggard, ended the day up by 1.3%, with 17.5 million shares traded, versus an average daily trading volume of just under 11 million shares. GenWorth hit a 52-week high during Tuesday's trading session.

PMI Group (PMI), one of MGIC Investment's competitors, was up 5%, too.

At the same time as the mortgage rally, the financial and insurance sectors were both down on Tuesday.
1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
GNW $3.43 0.00%
MGT $0.32 0.00%
RDN $12.79 0.00%
AAPL $93.74 0.00%
FB $117.58 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs