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Highfields Capital Management LP increased its stake in Genworth Financial Inc. and the hedge fund plans to discuss options for the insurance company’s mortgage insurance operations and other businesses, according to a regulatory document filed Thursday.

The news sent Genworth’s stock soaring 52 cents, nearly 11 percent, to close at $5.43. The stock slumped for much of the day, dropping to $4.80, a point last seen in September, but rallied after the filing was submitted to the U.S. Securities and Exchange Commission.

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