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Hot Stocks: Regions Financial Corporation, Genworth Financial Inc, Office Depot Inc

2013-03-05 10:06 ET - News Release

NEW YORK, March 05, 2013 - vb-news.net, one of the leaders in providing investment alerts on U.S. stocks are announcing Investment Highlights on Regions Financial Corporation, Genworth Financial Inc, Office Depot Inc.

Regions Financial Corporation(NYSE:RF) has appointed Anne Copeland head of Private Wealth Management, a division of the Regions Wealth Management Group, the company said in a statement.

In her new role Copeland will be responsible for leading Regions’ efforts to provide banking, trust, and investment management services to affluent and high net worth individuals and families.

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She will oversee a team of more than 500 private wealth management associates. Regions Private Wealth Management operates 50 offices and serves clients in 16 states.

Genworth Financial Inc(NYSE:GNW), the country’s largest mortgage insurer, may not list its Australian unit until the end of the year as claims payout crimped its earnings in 2012.

Higher mortgage delinquencies led to the company to pay out more in the form of claims from lenders. The company disclosed its plans to delay the listing while announcing its latest financial accounts.

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The company had initially planned to list its Australian arm in late 2011, but had to postpone that. The company expects to raise about $800 million from the listing. In April last year the initial public offering was pushed back to the first half of this year after a spike in claims caused it to post a loss in the first quarter.

''The ultimate parent anticipates selling up to 40 per cent of its holdings in the Australian business, and the partial sale is not expected to occur prior to late 2013, subject to market valuation and regulatory considerations,'' the statement from the company said.

Office Depot Inc(NYSE:ODP) shareholder Starboard Value is pressurizing the company to sell its unit in Mexico to Grupo Gigante SAB.

How Should Investors React To ODP’s latest Developments? Get Free Research Report Here http://vbtrendreport.com/aw/?code=ODP

The activist investor is also urging the stationery supplier to improve its operations. Gigante, the Mexico City-based retailer that owns the other 50 percent of Office Depot de Mexico, offered to pay 8.78 billion pesos ($683 million) for the rest of the company, according to a Feb. 21 filing.

Office Depot agreed to buy OfficeMax for $1.17 billion the day before Gigante's offer was made public. As part of the merger agreement, OfficeMax has to approve the sale of the Mexican unit.

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