Tuesday, February 15, 2011

MBIA Shares Rally As Berkowitz Increases Stake

Shares of MBIA Inc. (NYSE: MBI) jumped than 5% Tuesday after Bruce Berkowitz, head of Fairholme Capital Management, disclosed a bigger stake in the bond insurer. Late on Monday, Fairholme disclosed in a regulatory filing that it owns just over 38.45 million shares of MBIA, or 19.2% of the company. In November, Fairholme disclosed a stake of just over 33 million shares, or 16.5%.

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