|Bid||6.805 x 0|
|Ask||7.071 x 0|
|Day's Range||6.768 - 6.768|
|52 Week Range||5.154 - 10.575|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
The market doesn’t seem too concerned about a Barron’s feature that scolded MBIA (MBI) for using the funds of its regulated insurance subsidiary to buyback 25% of MBIA's stock (see "Muni Insurer MBIA Courts Risk in Share Buyback"). Its shares have gained 2.7% to $8.30 despite our concerns about MBIA betting a quarter of a billion dollars of the insurer's capital on the muni bond guarantor when it faces $3.4 billion exposure to defaulted bonds in Puerto Rico. In a note this morning, MKM Partners analyst Harry Fong came out in defense of the muni bond insurer.
In the years following the 2008 financial crisis, bond insurer MBIA tried to get back in the game of guaranteeing the timely payment of municipal bonds. Then Hurricane Maria ravaged the Puerto Rican locales whose MBIA-insured bonds were already in arrears. After these disasters, a funny thing happened to MBIA’s stock (MBI): It rose 50% in late October, to $9.66.
NEW YORK, Nov. 16, 2017-- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors, traders, and shareholders of Liberty ...
On a per-share basis, the Purchase, New York-based company said it had a loss of $2.17. Losses, adjusted for non-recurring costs, came to 92 cents per share. The insurance and reinsurance company posted ...
MBIA Inc. will host a webcast and conference call for investors on Wednesday, November 8 at 8:00 a.m. to discuss its third quarter 2017 financial results and other issues related to the Company.
National Public Finance Guarantee Corporation , an indirect subsidiary of MBIA Inc. , today announced that National and other creditors have voluntarily dismissed without prejudice the adversary complaint filed on August 7, 2017 which sought to compel the Puerto Rico Electric Power Authority to deposit revenues with the bond Trustee as required by the terms of the PREPA Trust Agreement, PROMESA and ...
President Donald Trump's apparent unwillingness to back rebuilding of hurricane-ravaged and already bankrupt Puerto Rico sparked yet another selloff in the bonds Thursday. Trump tweeted that Puerto Rico's financial crisis was "largely of their own making," and added, "We cannot keep FEMA, the Military & the First Responders, who have been amazing (under the most difficult circumstances) in P.R. forever!" The closely watched 8% coupon general obligation bonds maturing in 2035 fell to 35 cents on the dollar, a new low. The New York Times notes in its story: The threat may mean less than it appears — federal government officials quickly said that they were not pulling out of Puerto Rico anytime soon.
National Public Finance Guarantee Corporation , an indirect subsidiary of MBIA Inc. , today announced that, together with the other plaintiffs in the case, it has voluntarily dismissed without prejudice the adversary complaint filed on May 3, 2017 which challenged the Commonwealth of Puerto Rico’s fiscal plan dated March 13, 2017.
Shares in the insurers of Puerto Rico's bonds fell sharply Wednesday morning after President Donald Trump suggested the struggling commonwealth's bondholders would have to be wiped out.
Puerto Rico's bonds have been falling fast ever since the scope of damage to the island following Hurricane Maria became clear. Specifically, Trump told Fox News' Geraldo Rivera Tuesday, "They owe a lot of money to your friends on Wall Street. Puerto Rico Electric Power Authority (PREPA) bonds were also at an all-time low.
MBIA Inc. today reported that its Board of Directors has elected William C. Fallon to the position of Chief Executive Officer of MBIA Inc., effective September 15, 2017, bringing to conclusion MBIA Inc.’s long term succession plan, which has been implemented over the past two years.
NEW YORK, NY / ACCESSWIRE / August 9, 2017 / MBIA Inc. (NYSE: MBI ) will be discussing their earnings results in their Q2 Earnings Call to be held on Wednesday, August 9, 2017 at 8:00 AM Eastern Time. ...
The Purchase, New York-based company said it had a loss of $9.78 per share. Losses, adjusted for non-recurring costs, were $1.09 per share. The insurance and reinsurance company posted revenue of $72 million ...
Exposure to defaulted Puerto Rico debt helped balloon bond insurer MBIA Inc's net loss for the second quarter of 2017 to $1.2 billion compared with a loss of $27 million in the same period last year, the company reported on Tuesday. MBIA attributed the dismal results in part to bigger losses at its National Public Finance Guarantee Corporation unit, which guarantees payment on some of the U.S. commonwealth's debt. “National’s losses and loss adjustment expenses in the quarter resulted from its insurance of several Puerto Rico credits, nearly all of which have entered bankruptcy-like proceedings under PROMESA," Bill Fallon, MBIA president and CEO said in a statement.
MBIA Inc. today reported a consolidated GAAP net loss of $1.2 billion, or $ per share, for the second quarter of 2017 compared to a consolidated GAAP net loss of $27 million, or $ per share, for the second quarter of 2016.
National Public Finance Guarantee Corporation , an indirect subsidiary of MBIA Inc. , said today that National and other creditors have filed an Adversary Complaint in the U.S.
MBIA Inc. will host a webcast and conference call for investors on Wednesday, August 9 at 8:00 a.m. to discuss its second quarter 2017 financial results and other issues related to the Company.
MBIA Inc. today announced the resignations of Maryann Bruce, Keith D. Curry and Lois A. Scott from the MBIA Inc. Board of Directors effective July 28, 2017.
National Public Finance Guarantee Corporation , an indirect subsidiary of MBIA Inc. , today announced that National, along with the Ad Hoc Group of PREPA bondholders, Assured Guaranty Corp., Assured Guaranty Municipal Corp.