MBI, AGO, CSE are Top Financial Stocks

Financial Stocks

Dallas, TX 11/17/2009 04:48 PM GMT (TransWorldNews)

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MBIA Inc. (NYSE:MBI) is amongst the top gainer in the early morning trade and soared 6.04% to $3.47 on a massive volume of 4.85 million shares. Attorney Advertising. Stull, Stull & Brody announced that it has commenced an investigation relating to the 401(k) defined contribution retirement plans of MBIA Inc. Among other things, Stull, Stull & Brody is investigating whether fiduciaries of the MBIA 401(k) plan may have violated the Employee Retirement Income Security Act of 1974 (ERISA) by failing to disclose the Company's true operating condition to participants and beneficiaries of the plans.

Assured Guaranty Ltd. (NYSE:AGO) is amongst the top gainers in the early few minutes. The stock has spurted 19.75% and is trading at $25.40 with an unusual massive volume of 5.24 million shares. The company reported third-quarter loss--its sixth in the past two years--narrowed as the bond insurer's revenue swelled from an acquisition. For the latest quarter, Assured Guaranty reported a loss of $35 million, or 22 cents a share, compared with a year-earlier loss of $63.3 million, or 69 cents a share, according to a filing with the Securities and Exchange Commission. Results for the latest quarter include Financial Security Assurance Holdings Ltd., which Assured Guaranty acquired July 1 from Dexia SA (DEXB.BT). The latest results included $133.3 million of loss and loss-adjustment expenses and a $432.6 million loss on credit derivatives. The prior-year quarter included $82.5 million of loss and loss-adjustment expenses and a $72.2 million loss on credit derivatives. The stock today also touched a new 52 week high at $28.14.

CapitalSource, Inc. (NYSE:CSE) climbed up 3.77% over its previous day’s price and now trades at $3.85 on a massive volume of 4.79 million shares. The company announced the appointment of Steven A. Museles and James J. Pieczynski as Co-CEOs and members of the Company's Board of Directors, and the formation of an Office of the Chairman. Founder and current Chief Executive Officer (CEO), John K. Delaney, will assume the new Company officer role of Executive Chairman and continue to chair the Company's Board of Directors. Dean Graham has decided to step down as President. The changes will become effective on January 1, 2010.

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