MBIA shares recover part of big loss
-
- April
- 24
Shares of MBIA Inc., the Armonk-based bond insurer, bounced back a bit today after dropping 33.8 percent yesterday. The shares rose $1.01, or 11.5 percent, to close at $9.80. The shares dropped yesterday on news that another bond insurer, Ambac Financial Group Inc., posted a larger quarterly loss than Wall Street analysts expected. MBIA has taken a beaten due its exposure to subprime loans. The company’s shares are down 86.5 percent since the start of last year.
This entry was posted
on Thursday, April 24th, 2008 at 4:05 pm by Allan Drury.
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