ABK ABKFQ - Ambac Financial Group - Page 6

i need to keep an eye on this one, can make 10% every day.

Usually makes a run to the 2.50 range then retreat back.

up big in pre-market

short this big boy

Where the goal of the arrow?

Thats an impressive technical move in this market.

Some of those that took the risk in early July are enjoying a 350%+ gain...

What a ride..

The nice thing is it held up under several tries to run it down

Got In today. Very strong. Chart set up perfectly.

Bank of America on Friday got hot and heavy on this stock

2008-08-01 Veritable L P Ambac Finl Group Inc (ABK) ABK None Sold All -10,127 -100.00 %
2008-08-01 Profund Advisors Llc Ambac Finl Group Inc (ABK) ABK None Sold All -14,179 -100.00 %
2008-08-01 Principal Financial Group ... Ambac Finl Group Inc (ABK) ABK None Sold All -179,567 -100.00 %
2008-08-01 Irish Life Investment Man ... Ambac Finl Group Inc (ABK) ABK None Sold All -35,771 -100.00 %
2008-08-01 Claymore Advisors Llc Ambac Finl Group Inc (ABK) ABK None Sold All -6,263 -100.00 %
2008-08-01 Value Fund Ambac Finl Group Inc (ABK) ABK None Sold All -74,000 -100.00 %
2008-08-01 Riversource Fundamental V ... Ambac Finl Group Inc (ABK) ABK None Sold All -85,540 -100.00 %
2008-08-01 Dimensional Fund Advisors ... Ambac Finl Group Inc (ABK) ABK 8,700 Sold Some -42,050 -82.85 %
2008-08-01 Hunter Associates Inc Ambac Finl Group Inc (ABK) ABK 13,450 No Change 13,450 0 %
2008-08-01 Proshare Advisors Llc Ambac Finl Group Inc (ABK) ABK 216,894 Added More 116,328 115.67 %
2008-08-01 Bank Of America Corp Ambac Finl Group Inc (ABK) ABK 25,558,577 Added More 18,390,100 256.54 %
2008-08-01 Conning Asset Management Co Ambac Finl Group Inc (ABK) ABK 18,903 Added More 2,540 15.52 %
2008-08-01 Growth Fund Ambac Finl Group Inc (ABK) ABK 2,480 New Holding 2,480 100.00 %
2008-08-01 Cornerstone Strategy Fund Ambac Finl Group Inc (ABK) ABK 5,500 No Compare - - %
2008-08-01 Income Stock Fund Ambac Finl Group Inc (ABK) ABK 72,700 No Compare -

....

The stock needs a good tone to move up again, without that it will really dificult.

Another strong day.

They are having trouble keeping it down

It has now doubled in 2 days

Strong!

This thing is a beast.

I bought this and C, and CNB in July. Check out / DD CNB also, you might be happy. Go Baby Go!! GLTA

Up another 75 cents this morning..

Monster.... at least till earnings then???

Ambac Shares Rise on Profit Surprise
08/06/08 - 12:12 PM EDT
>Debra Borchardt

Ambac Financial(ABK - Cramer's Take - Stockpickr) shares shot up as much as 13% Wednesday, after the bond insurer posted a surprising profit in the second quarter.

The bond insurer reported net income of $823.1 million, or $2.80 per diluted share, vs. $173 million, or $1.67 per diluted share, in the year-ago period. The unexpected profit was due to mark-to-market gains on credit derivatives, increased accelerated refunding premiums and a drop in the loss reserves for the mortgage-backed security portfolio.

Excluding gains on credit derivatives of $961.6 million and estimated impairment losses in the portfolio of $1,061.9 million, the company posted an operating loss of $1.53 a share. Analysts polled by Thomson Reuters had forecast a loss of 65 cents a share.

The company, which along with rival MBIA(MBI - Cramer's Take - Stockpickr) has been hammered by credit downgrades by all three major credit rating agencies, has seen its share price plummet as low as $1.04 from a high of $74.48 in the past year. Less than pristine credit makes it all but impossible for the company to win new business. But the company said it was optimistic about its plan to set up a separate, AAA-rated subsidiary called Connie Lee.

Ambac believes it will receive approval of its plan, which is being reviewed by the ratings agencies. CEO Michael Callen, in a company statement, said the venture "starts fresh with a clean balance sheet," and will be well capitalized and focused on U.S. public finance and global infrastructure exclusively.

Callan said the major hurdle for Connie Lee was the AAA rating. "They've been putting us through the ringer," Callen said of the ratings agencies on a conference call.

The firm's claims paying resources increased from $14.5 billion to $16.3 billion due to the $1.5 billion that the company raised in March. Ambac is currently rated AA and Aa3 by S&P and Moody's, respectively and the capital position is estimated to be in line or in excess of both rating agencies' triple-A requirements.

The company projected that it will take three years to fully recover from the market crisis that has engulfed it for the past year.

Ambac commuted one of its largest collateralized debt obligations, AA Bespoke, by paying $850 million in order to settle the $1.4 billion in exposure. According to CFO Sean Leonard on the conference call, "The exit price was less than the loss."

Ambac shares, which hit as high as $5.35 Wednesday, more recently was up 8.7% to $5.14.

Last Trade: $5.85
Trade Time: 4:00PM ET
Change: 1.12 (23.68%)


this is a money making MACHINE!!!!! for now....
got mine @ $2.02

I've been watching but havent bought any yet
- John Briner