MBIA Volatile In Late Trading (MBI)

Shares of MBIA MBI are volatile in after hours trading, now down almost 1% after having been as high as up 7%. The bond insurer reported a quarterly net loss of $1.06 per share for the third quarter. Chief Financial Officer Chuck Chaplin said insured losses continued to moderate in the third quarter, versus the same periods of 2008 and 2009. He also said liquidity for the company was substantially better than it was last year, and even earlier in 2010. Regarding the litigation claims against the company, Chaplin went on to say, "The litigation that constrains our re-entry into the U.S. public finance insurance business continues, but our belief that the New York State Insurance Department made the right decision in February 2009 is borne out by the fact that we continue to pay all claims and obligations as they come due." At last check, shares were down 2% in after hours to $11.05, a loss of 2%.