AFTER THE BELL-MBIA shares tumble after results

NEW YORK, Nov 9 (Reuters) - Shares of MBIA Inc (MBI.N) briefly dropped more than 17 percent after the closing bell on Monday after the bond insurer provided a financial update for the first nine months of 2009.

The company reported a lower third-quarter loss, as a benefit from narrowing credit spreads helped to offset writedowns on mortgage bonds it insured. [ID:nN03307342]

After initially falling close to 20 percent, shares last traded down 14.6 percent at $4.10.