The stock market is mixed Wednesday, with the Dow Jones Industrial Average down 0.25%, the Nasdaq up 0.16% and the S&P 500 up 0.09%. Today’s sole winner is a financial company moving away from its mortgage-insurance business, while today’s sole loser is an energy firm whose major investors sold a significant number of the company’s shares.
This is Wednesday’s market winner and loser.
Biggest Winner
Shares of Genworth Financial Inc. (NYSE: GNW) are up 10.09% to $8.95 on trading volume of 14.2 million shares. The company plans on distancing itself from its mortgage insurance unit by setting up a new parent company to move the unit away from more profitable units, Genworth announced Wednesday. The 52-week high is $9.68.
Biggest Loser
Shares of Cobalt International Energy Inc. (NYSE: CIE) are down 5.87% to $25.18 on trading volume of 13.6 million shares. A group of backers, including Goldman Sachs Group Inc. (NYSE: GS) and The Carlyle Group L.P. (NASDAQ: CG), sold 40 million shares worth more than $1 billion on Tuesday. The 52-week low is $20.00.
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