Financial Winners & Losers: MBIA

Financial guarantors and defied gravity Monday, after several reported heavy losses but managed to lift higher in afternoon trading, bringing the financial sector along with them.

Bond insurer MBIAMBI posted a $2.41 billion loss in the first quarter, as it recorded billions in unrealized losses due to the credit market deterioration. The Armonk, N.Y.-based company's shares jumped 5.3% to $9.93.

Radian GroupRDN enjoyed unrealized gains of $707 million on its derivatives, pushing its net income to $195 million. But excluding those gains, the company suffered an operating loss $215 million. The stock climbed 21 cents, or 3.9%, to $5.64.

PMI Group PMI shares rallied after the mortgage insurer said it lost $274 million due partly to a markdown in the value of its stake in the Financial Guaranty Insurance Co. and to a rise in claims payments. Shares were up 14 cents to $6.11.

HSBC HoldingsHBC ticked up 3% after its business in Asia, the Middle East and Latin America offset its bad-debt charges from the U.S. The good news was that the bad debt charges were lower than expected and so the market rallied behind the stock and it gained $2.50 to $86.57.

But the big winner of the day was Stifel Financial SF which shot up 13.1% after it informed the market of its 62% increase in first quarter profits. Revenue was driven upward by last year's acquisition of Ryan Beck. The regional brokerage based out of St. Louis also announced a three-for-two stock split and the shares responded favorably by rocketing up $6.14 to $53.04.