MBIA Inc (MBI)

[mlkrborn]

MBIA reports quarterly net income of $1.3 bln
4:28p ET August 9, 2010 (MarketWatch)
SAN FRANCISCO (MarketWatch) -- MBIA Inc. said late Monday that second quarter net income attributable to common shareholders came in at $1.3 billion, or $6.32 a share, up from a year earlier when the bond insurer reported net income of $895 million, or $4.30 a share. Adjusted pre-tax income, which excludes a $1.5 billion derivatives gain and several other items, was $14 million in the latest period, the company added. "In the second quarter, we saw both our paid losses and new delinquencies on insured RMBS exposures continue to decline," MBIA Chief Financial Officer Chuck Chaplin said in a statement. MBIA shares jumped 11% to $10.23 in after-hours trading on Monday.