US STOCKS-Wall St advances with financial companies

(Updates to show stocks adding to gains)

NEW YORK, May 12 (Reuters) - U.S. stocks advanced on Monday as financial shares added to gains after bond insurer MBIA (MBI.N: Quote, Profile, Research, Stock Buzz) said quarterly revenue dropped less than it reported initially.

The Dow Jones industrial average .DJI was up 80.93 points, or 0.63 percent, at 12,826.81. The Standard & Poor's 500 Index .SPX was up 6.92 points, or 0.50 percent, at 1,395.20. The Nasdaq Composite Index .IXIC was up 20.63 points, or 0.84 percent, at 2,466.15. (Reporting by Caroline Valetkevitch; Editing by Kenneth Barry)