ABK ABKFQ - Ambac Financial Group

very nice gains here... 71% isnt not bad at all

bought some at 11.37 this morning..... GL

2 days ago, in at 5.80 out at 14.10

Uhhh not bad at all lol. Just sit back for the rest of the year. Any fund manager would shit himself if he had a 71% gain trade.

Nice! Almost a three bag

nice pop again today.

you folks need to wake up and check the news on the bailout of this company. This is heading much much higher.

go to finance yahoo and you will see a plethora of news. Banks getting together to bail them out, the NY state govt, a bunch of big stuff going on.

damnit! I got in at 11.19, a few days ago, watched it go to 14+ and got out at 11.71 because I got a little paranoid! I don't know why i sold, I hope it doesnt boom tommorow. Now I have to wait 3 days to get back in :[. What do you guys make of the bail out? I heard its gonna help policy holders and not do much for shareholders or something along those lines.

Personally not going to touch this unless it gets back down to 6 or lower, then wait for any kind of positive news. Or maybe just some solid news in general would be nice. Without news this guy is pretty boring, at least as of late.

in before the hault.

1:34[ABK] Ambac to sell equity units to raise $500 million
1:33[ABK] Ambac to sell at least $1 bln worth of common stock
1:31[ABK] Ambac will stop underwriting credit card securitizations
1:30[ABK] Ambac will also stop underwriting auto loan securitizations
1:29[ABK] Ambac to stop guaranteeing CDOs, mortgage-backed securities
1:27[ABK] Ambac has written 'virtually' no new business in 2008
1:26[ABK] Ambac equity unit offering contingent on common stock sale
1:25[ABK] Ambac filing says insurer is also selling equity units

ABK AMBAC Fincl: Follow up on S&P ratings on ABK unaffected (9.20 -1.52) -Update-

Ambac Financial Group announced today that it plans to bolster its capital base by raising at least $1.5 bln in new capital composed of common equity and equity units, reducing its common dividend, and not writing new structured finance business for a six-month period. Ambac also announced that it has amended its business plan to eliminate certain structured finance lines of business; the co will exit its financial services businesses and plans to refocus its efforts on its remaining structured finance business lines. Finally, Ambac stated that it is no longer contemplating separating its financial guaranty business into separate municipal and structured finance entities. For now, our ratings on Ambac Assurance Corp. and holding co Ambac Financial Group Inc. remain on CreditWatch with negative implications. However, we would likely remove the ratings from CreditWatch and affirm them with negative outlooks if the capital raise is successful, assuming that the other parts of the plan remain in place. The negative outlooks would reflect our view that the potential for further mortgage market deterioration remains uncertain and will likely challenge bond insurers' ability to gauge their ongoing capital needs accurately in the near term. The negative outlooks would also reflect Standard & Poor's assessment with regard to the strength of a company's capital position when weighed against projected stress case losses.

i guess your in for the long haul now...