MBIA (MBI) Shares Plunge 9%

Shares of MBIA Inc MBI were down 9% at $8.49 per share on Tuesday morning, just a day after the stock rose almost 7%. After the market closed on Monday, MBIA Inc released financial results that fell below the average analyst estimate. MBIA Inc reported its third consecutive quarterly loss when the company announced a 1st quarter loss that was a much worse than expected $7.22 per share, largely due to a $2.2 billion loss from insured credit derivatives. Thomson Reuters conducted a poll of analysts that showed the consensus Wall Street forecast was for a loss of $1.02 per share.