UBS cuts autos, upgrades insurance sector - MarketWatch

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Genworth hit by lapse concern, housing caution - MarketWatch

By Alistair Barr, MarketWatch

SAN FRANCISCO (MarketWatch) -- Genworth Financial Inc. shares dropped more than 15% Friday on concern about higher lapse rates in the company's life insurance business.

The stock was also pressured as the company, a major mortgage insurer, sounded cautious about the housing market.

Genworth /quotes/comstock/13

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