Genworth (GNW) Shares Surge as Execs Considering Splitting Company; Buyback Plan Also Mentioned as Possibility

Traders are attributing strength in shares of Genworth Financial (NYSE: GNW) to comments made by the company's CEO on its conference call that executives are considering a possible split of the company. CEO Martin Klein also suggested Genworth could soon initiated a share repurchase program.

After opening flat from Thursday's closing price, Genworth shares spiked as much as 9.7 percent to $8.60 just as the call began.

Shares have pared gains since the initial move higher, however are still up 5.5 percent to around $8.25.

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