Market Focus

MGIC, Radian & Genworth Financial

The shares of some mortgage insurers fell in reaction to proposed regulations. The Federal Housing Finance Agency wants to tighten the requirements for private insurers that do business with Fannie Mae and Freddie Mac, companies like MGIC, Investment, Radian Group and Genworth Financial. The agency says the proposed rule will make sure insurers have enough money on hand to pay claims. Investors weren’t pleased with the news” Shares of MGIC fell 9.5 percent, Radian was down five percent and Genworth Financial was off 2.5 percent.

Reynolds American & Lorillard

Reynolds American and Lorillard are in merger talks, a move that would combine two of the nation’s biggest tobacco companies. There has been speculation about a combination, but now the cigarette makers are confirming the talks. They are also in discussions with Britain’s Imperial Tobacco about selling assets. Shares of Reynolds were down a fraction to $61.75. But Lorillard popped more than 4.5 percent to $66.01.


Shares of Amazon jumped on news the online retailer has asked the aviation regulators for permission to conduct outdoor drone tests near its Seattle headquarters. The company hopes to deliver packages by drone one day. The stock rose 5.5 percent to $346.20.


Shares of Fastenal dropped after the company reported earnings that were in line with estimates and revenue that was slightly below forecasts. The company, which sells fasteners and other industrial supplies says its facing gross margin challenges. The stock fell four percent to $46.15.

Whirlpool & Indesit

Whirlpool is buying a majority stake in its Italian rival Indesit, worth a little over $1 billion. The home appliance maker says the deal will strengthen its European manufacturing operations. Shares of Whirlpool rose one percent to $140.76.


This entry was posted in Market Focus. Bookmark the permalink.

Leave a Reply