Market Winners & Losers: AMD, Autodesk Nov 19, 2009
MBIA Inc. () The insurer continued its string of big gains, adding 10. 1% to its share price on Wednesday. (Fox News)
Market Winners & Losers: Abercrombie & Fitch, Genzyme Nov 14, 2009
MBIA Inc. () The insurer continued its losing streak, with the stock falling 4. 8% Friday. (Fox News)
Assured Guaranty Forecasts 3rd-Quarter Loss Nov 11, 2009
Assured Guaranty largely avoided the credit problems that have plagued rivals Ambac Financial Group Inc. and MBIA Inc. by avoiding insuring repackaged subprime mortgages. The company said third-quarter net earned premiums are expected to be about $330 million, up sharply from $85. (ABC News -- Wire)
Stocks mostly fall as the dollar's slide eas... Nov 11, 2009
In corporate news, bond insurer MBIA Inc. tumbled $1. 13, or 23. (San Diego Union-Tribune)
Ambac Shares Sink as Warns of Possible Bankruptcy Nov 11, 2009
By Emily Chasan November 10, 2009. NEW YORK (Reuters) - Shares of bond insurer Ambac Financial Group Inc sank 33 percent on Tuesday after the company warned it may be forced to seek bankruptcy protection if it cannot fix its liquidity problems. (ABC News -- Wire)
Market Winners & Losers: Monsanto, MBIA Nov 11, 2009
MBIA Inc. (MBI) The insurers shares fell 26. 7% after its quarterly loss was wider than expected. (Fox News)
Insurance Losses Lead to 3Q Loss at MBIA Nov 10, 2009
MBIA Inc. said Monday that it incurred heavier losses in its insurance business than expected, saddling the bond insurer with a third-quarter loss after two straight quarters of profits. Higher losses on MBIA's coverage of mortgage-related securities and complex investments known as derivatives overwhelmed investment income and premiums collected on its insurance policies. (ABC News -- Wire)
Market Winners & Losers: International Game Technology, AIG Nov 7, 2009
MBIA Inc. (MBI) The insurer ended Friday on a positive note as the stock rose 6. 6. (Fox News)
Market Winners & Losers: Harman International, Gannett Oct 31, 2009
MBIA Inc. (MBI) The insurer plunged 8. 8% to close the last session of the week. (Fox News)
Market Winners & Losers: Constellation Brands, MBIA Oct 2, 2009
MBIA Inc. (MBI) The insurer continued its downward slide, falling 10. 6% after S&P cut the shares to junk status. (Fox News)
Barroway Topaz Kessler Meltzer & Check, LLP Announces ERISA Investigation of MBIA, Inc. on Behalf of MBIA, Inc. 401(k) Plan Participants Sep 18, 2009
BTKMC's investigation relates to whether MBIA, and other administrators or fiduciaries of the MBIA Inc. 401(k) Plan ("Plan"), may have breached their ERISA-mandated fiduciary duties of loyalty and prudence to participants and beneficiaries of the Plan with regards to the Plan's investment in MBIA stock ... If you are or were a participant in the MBIA Inc. 401(k) Plan and wish to discuss this investigation or have any questions concerning this notice or your rights or interests with respect to... (PR Newswire)
Canadian Stocks Advance as Energy Producers, Bank Shares Climb on Economy Aug 13, 2009
Canadian stocks fell yesterday, led by financial shares, as JPMorgan Chase & Co. cut its rating on U.S. bond insurer MBIA Inc., housing starts slumped unexpectedly and a drop in oil drove down energy producers. Were seeing a retracement of the bank losses yesterday and some speculative interest of energy stocks, said , director of Canadian equities at Scotia McLeod in Toronto, which manages about C$60 billion. (Bloomberg -- Canada)
Canadian Stocks Decline as Financials Follow Shares of U.S. Banks Lower Aug 12, 2009
Aug. 11 (Bloomberg) -- fell for a second day, led by financial shares, as JPMorgan Chase & Co. cut its rating on U.S. bond insurer MBIA Inc., housing starts slumped unexpectedly and a drop in oil drove down energy producers. Financial companies decreased 2. (Bloomberg -- Canada)
MBIA posts surprise profit in 2Q Aug 6, 2009
ARMONK, New York: Bond insurer MBIA Inc. surprised Wall Street Wednesday with a second-quarter profit, which it says was fueled partly by unrealized gains on credit derivatives. The Armonk, New York-based company earned $894. (The Star Online, Malaysia -- Business)
Banks show new swagger with MBIA suit May 14, 2009
A group of 18 financial institutions, which also includes Canadian Imperial Bank of Commerce and Royal Bank of Canada, filed a lawsuit against MBIA Inc., MBI-N claiming a recent restructuring by the bond insurer was "fraudulent." ... "[This] was a blatant attempt to enrich MBIA Inc. and its management at the expense of MBIA Insurance and its policy holders - with assets the company had no right to use in this way," said Vince DiBlasi, a lawyer representing the banks. (Globe and Mail -- Business)
Banks Sue MBIA Over $5 Billion Restructuring May 14, 2009
May 13, 2009 FONT SIZE. The group of around 20 financial institutions and affiliates are seeking to ensure that MBIA pays valid claims on insurance it issued on defaulting bonds, but did not put a value on such claims. (ABC News -- Wire)
Report: Banks Sue MBIA Over Split of Businesses May 14, 2009
MBIA Inc. is the target of a lawsuit by a group of 18 financial institutions claiming that the bond insurer's separation of its businesses early this year was fraudulent, The Wall Street Journal said Wednesday. The paper said the lawsuit was filed in New York state court on Wednesday afternoon by a group of U.S. and foreign banks including JPMorgan Chase Bank of America Corp., Morgan Stanley, Canadian Imperial Bank of Commerce, Barclays PLC and UBS AG.. (ABC News -- Wire)
MBIA Posts 1Q Profit After 5 Straight Losses May 12, 2009
MBIA Inc. is reporting a profit for the first quarter, reversing a string of five consecutive quarterly losses as the bond insurer was rocked by the financial meltdown. For the three months ended March 31, New York-based MBIA says it earned $696. (ABC News -- Wire)
MBIA Shares Soar After Posting Profit May 12, 2009
May 11, 2009 FONT SIZE. NEW YORK (Reuters) - MBIA Inc , once the largest U.S. bond insurer, reported Monday it had swung to a first-quarter profit after a huge year-earlier loss, sending its shares up 18 percent in after-hours trade. (ABC News -- Wire)
Ackman's Rich Reputation May Get Marked Down in $2 Billion War With Target Apr 17, 2009
His most profitable wager, that bond insurer MBIA Inc. would implode, took five years of hounding regulators and rating companies about the firms unwarranted AAA rating before it started to pay off. He ended up with a profit of more than $1 billion. (Bloomberg)
Third Avenue Funds Seek Unwinding of MBIA Fraudulent Transfers Apr 7, 2009
NEW YORK, April 6 /PRNewswire/ -- Third Avenue Management LLC, an investment adviser to investment companies, as well as private and institutional clients, announced today that three of the mutual funds managed by the company (the "Third Avenue Funds") have commenced litigation in Delaware Chancery Court against MBIA Insurance Corporation and MBIA Insurance Corporation of Illinois, subsidiaries of MBIA Inc. (NYSE: ). MBIA's Recent Corporate "Transformation" Defrauded Stakeholders. (PR Newswire)
MBIA Posts Narrower 4th-Quarter Losses Mar 3, 2009
Bond insurer MBIA Inc. on Monday reported a sharply narrower loss for the fourth quarter, as its net premiums written increased 10 percent and it posted fewer investment losses. Like others in its industry, MBIA has been hit hard in the past two years by losses on its coverage of risky financial instruments such as mortgage-backed securities. (ABC News -- Wire)
MBIA Forms Separate Muni Bond Insurance Business Feb 19, 2009
MBIA Inc. said Wednesday it will separate its municipal bond insurance business from the riskier operations that sent the company's finances into turmoil. MBIA, which came under pressure in 2008 because it had insured mortgage-backed securities that later soured, is hoping the split will help generate new confidence in its municipal insurance business and increase liquidity for that struggling market. (ABC News -- Wire)
