Terrible earnings report. Hopefully the conference call gives us something to hope for in the future. Maybe an update on the Australia IPO? Should have seen this coming as the stock faded so quickly from the post-MTG highs.
There was some good in the report, especially from long-term care and international MI, but the negatives outweighed the good by a pretty decent amount. Life insruance was bad and the US MI business was surprisingly weak - there should have been some sequential improvement after taking account of the seasonal 2Q decline in investment income for that business, but that does not appear to be the case. Plus, guidance for the US MI remains pretty downbeat. Stock looks like it is down about 5% right now. Hoping that holds after the call, but I could see this dropping eve more if the call doesn't give us something to hang our hopes on.
Waiting until after the call to decide what to do with my holdings.