By midafternoon, shares had added 4.9% to $17.73, while MGIC Investment climbed 7% to $8.91.
MGIC Investment recorded net income of 15 cents a share over the three months to March, compared to a net loss of 31 cents a share in the year-ago quarter. Earnings beat the Capital IQ Consensus Estimate of 11 cents a share by 4 cents.
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TheStreet Ratings team rates GENWORTH FINANCIAL INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate GENWORTH FINANCIAL INC (GNW) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity and compelling growth in net income. We feel these strengths outweigh the fact that the company shows weak operating cash flow."
Highlights from the analysis by TheStreet Ratings Team goes as follows: