BTIG analyst Mark Palmer says that Virginia's decision to approve the sale of Genworth's insurance companies in the state to a Chinese company, China Oceanwide, is positive. However, the analyst says that Genworth still must obtain the approval of "several (other) entities" before its deal to sell the entire company to China Oceanwide can close. He believes that Genworth's stock could fall below $1 if the deal is not approved as such a development would "spark fears of an imminent bankruptcy filing," according to the analyst. He keeps a Neutral rating on the shares.