MBIA reports 2Q loss

PURCHASE, N.Y. (AP) _ MBIA Inc. (MBI) on Tuesday reported a loss of $1.23 billion in its second quarter.

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 in the period.

MBIA shares have fallen roughly 10 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $9.67, an increase of 14 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MBI at https://www.zacks.com/ap/MBI

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