Here's Why Voya Financial Is Soaring Today

On Thursday, Voya Financial (NYSE: VOYA) announced its plans to sell virtually all of its Closed Block Variable Annuity (CBVA) business as well as its individual fixed and fixed indexed annuity business.

The stock climbed higher on the day after the announcement, and was up by approximately 11% as of 3:20 p.m. EST.

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Source: Fool.com