NEW YORK (TheStreet) -- Shares of MBIA Inc. (MBI) are up 3.69% to $12.92 in after-hours trading as the company reported an adjusted pre-tax loss (a non-GAAP measure defined in the attached Explanation of Non-GAAP Financial Measures) of $99 million for the first quarter of 2014 compared with an adjusted pre-tax loss of $20 million for the same period of 2013.
However, MBIA recorded consolidated net income of $256 million, or $1.32 per diluted share, for the first quarter of 2014 compared with consolidated net income of $164 million, or 84 cents per diluted share, for the same period of 2013.
The company operates the financial guarantee insurance businesses in the industry and is a provider of asset management advisory services.
TheStreet Ratings team rates MBIA INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate MBIA INC (MBI) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, generally high debt management risk, disappointing return on equity and generally disappointing historical performance in the stock itself."