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Monolines Surge on Radian Earnings

NEW YORK ( TheStreet) -- Mortgage insurers' shares rallied after Radian Group (RDN - Get Report) posted a profit in the third quarter.

Radian posted its first profit in five years with a net income of $112.2 million, or 84 cents a share.

Radian's stock was up 82 cents to $8.27, MGIC Investment's (MTG - Get Report) stock was up 2 cents to $8.52 and PMI Group's (PMI) stock got a 14 cent boost to $3.30.

Monoline stocks-- which took a beating yesterday on news that Ambac was looking at pre-packaged bankruptcy -- also surged MBIA's (MBI - Get Report) stock was up 12 cents at $11.33, Ambac's (ABK) stock was up 6 cents at 47 cents and Assured Guaranty (AGO - Get Report) was up 54 cents at $19.64.

--Written by Maria Woehr in New York.

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AGO $26.71 -1.66%
MBI $9.11 0.11%
MTG $10.60 -1.67%
RDN $18.28 -0.49%
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