UPDATE: MGIC Investment Swings To Q2 Loss

MGIC Investment Corp MTG swung to a loss in the second quarter. MGIC reported quarterly a loss of $151.7 million, or $0.75 per share, versus a profit of $24.6 million, or $0.13 per share, in the year-ago period. Its revenue dropped 9.7% to $367 million. Analysts were expecting earnings of $0.02 per share on revenue of $346 million. MGIC's losses from mortgage defaults surged to $459.5 million from $320.1 million. MGIC shares fell 0.66% to close at $6.00 on Friday.