MBIA, Evercore and Stifel

Leading bond insurer MBIA Inc. lost $2.4 billion, or $13.03 per share, in the first quarter.
MAY 12, 2008
MBIA Inc. of Armonk, N.Y. said today that it lost $2.4 billion in the first quarter, or $13.03 per share. Last year, the giant bond insurer earned $198.6 million, or $1.46 per share, in the first quarter. MBIA said it has been exposed to uncertain market conditions due to the subprime-mortgage fiasco. Evercore Partners of New York reported a loss of $1 million, or $0.08 per share, in the first quarter. Last year, the boutique investment bank’s first-quarter profits totaled $4.2 million, or $0.64 per share. Stifel Financial Corp., the St. Louis-based parent of Stifel, Nicolaus & Co. Inc., reported profits of $14.3 million in the first quarter, or $0.81 per share. Last year, the brokerage and investment banking firm earned $8.8 million, or $0.58 per share, in the first quarter.

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