10:45PM New York – PMI Group, MBIA and Radian Group rose after reporting earnings.

A.C. Moore Arts & Crafts, Inc, a specialty retailer of arts reported first quarter net sales decreased 6.5% to $126.5 million from $135.4 million a year ago. Net loss in the quarter was $1.8 million or 9 cents per diluted share compared to net income of $0.3 million or 2 cents per share, a year ago.

A.C. Moore Arts & Crafts, Inc stock (ACMR: chart) closed up 58 cents to $7.17.

BankUnited Financial Corporation, the holding company of BankUnited reported second quarter net loss in the quarter of $65.8 million or 1.88 cents per diluted share compared to net income of $24.4 million or 64 cents per share, a year ago.

BankUnited Financial Corporation stock (BKUNA: chart) fell 20 cents to $3.70.

Endesa S.A., a Spain-based energy company reported first quarter net income increased 4.6% to 662 million euros ($1.02 billion) compared with 633 million euros a year ago. Fuel costs in Spain increased 25% during the period.

IndyMac Bancorp, Inc, provides financing for the acquisition of single-family homes reported first quarter Net loss in the quarter was $184.2 million or 2.27 cents per diluted share compared to net income of $52.4 million or 70 cents per share, a year ago.

IndyMac Bancorp, Inc stock (IMB: chart) fell 37 cents to $3.08.

MBIA Inc bond insurance company reported first quarter revenues increased 0.45% to $741.7 million from $738.3 million a year ago. Net loss in the quarter was $2.4 billion or $13.03 cents per diluted share compared to net income of $198.6 million or $1.46 per share, a year ago.

MBIA Inc stock (MBI: chart) closed up 42 cents to $9.85.

Radian Group Inc, a global credit risk manager and structured finance insurance provider reported first quarter revenues decreased 1.68% to $244.3 million from $248.4 million a year ago. Net income in the quarter increased 72% to $195.6 million or $2.44 per diluted share compared to net income of $113.4 million or $1.42 per share, a year ago.

Radian's financial results for the first quarter of 2008 were significantly impacted by unrealized gains and losses on the Company's hybrid securities and derivative assets and liabilities. Credit spreads on underlying collateral, both corporate credit spreads and asset-backed spreads, widened significantly during the quarter, which resulted in large unrealized losses on these positions.

Excluding the impact of net unrealized gains on derivatives and hybrid securities, the company's net operating loss was $215.2 million and the net operating loss per share was $2.69 for the quarter compared to net income of $106.9 million or $1.34 per share.

Radian Group Inc stock (RDN: chart) rose 12 cents to $5.87.

Sprint Nextel Corporation mobile telecom service provider reported first quarter revenues decreased 7.5% to $9.3 billion from $10.1 billion a year ago. Net loss in the quarter was $505 million or 18 cents per diluted share compared to net loss of $211 million or 7 cents per share, a year ago.

Sprint Nextel Corporation stock (S: chart) fell 14 cents to $9.21.

Targa Resources Partners LP, a provider of midstream natural gas and natural gas liquid reported first quarter revenues rose 47% to $512.1 million from $348.8 million a year ago. Net income in the quarter was $24.9 million or 50 cents per diluted share compared to net loss of $10.6 million or 7 cents per share, a year ago.

Targa Resources Partners LP stock (NGLS: chart) rose 17 cents to $24.53.

TETRA Technologies, Inc, an oil and gas services company reported first quarter revenues declined 8.17% to $225.2 million from $243.6 million a year ago. Net income in the quarter fell 68% to $6.7 million or 9 cents per diluted share compared to net income of $20.7 million or 28 cents per share, a year ago.

TETRA Technologies, Inc stock (TTI: chart) fell 21 cents to $18.95.