I'm ahead 70 grand putz and I have to sell this stock next week because it was in my Mom's estate. So I lost a little, but I am way ahead of the game, not like you mate. LOL all the way to the bank.
I hope you lose all your money. Dave Trick and Diana must be laughing at you. Gerbils as well.
Sentiment: Strong Sell
That was not last weekend. That was on the 25th of May. The drop in the last week has nothing to do with that article. It is just market conditions. BAC put aside 25 million to settle lawsuits over mortgages. This stock will definitely be seeing a rebound. Buy at these prices. I have.
Last weekend, Barron's recommended taking profits:
Shares of Ambac Financial Group have surged since we wrote about a potential windfall for the bond insurer that went bankrupt in the midst of the financial crisis in late 2010. In our story ("Ambac: Where a Smaller Portfolio Means a Bigger Stock Price," Dec. 23, 2013), analysts estimated that the guarantor of payments on mortgage- and asset-backed securities might be able to settle claims against it for $5 billion or less, well below the $6.6 billion set aside for them. Aided by a healthier mortgage market that reduced foreclosures and the possibility of payments from big banks to settle allegations about faulty mortgage originations, Ambac (ticker: AMBC) was in better shape than it appeared.
The possibility of $1.6 billion or more in found money for a small-cap insurer helped push the stock as high as $34.68 in early March from $20.63 at the time of our story. It's since settled back to around $28—still a 36% rise versus the S&P 500's 4.4% gain—as some of the enthusiasm about the mortgage markets and legal settlements has waned.
"We need more evidence of progress" of recoveries from lawsuits and reduction of obligations, to support higher equity values, says Mark Palmer, an analyst for New York brokerage BTIG, who has shifted from bullish to neutral. Similarly, Brian Charles, a special-situations analyst at broker R.W. Pressprich, on March 10 slapped a sell advisory on the stock.
There are still bulls who are confident about the payments' arrival. Andrew Gadlin, an analyst with broker Odeon Capital Group, maintains a $45 price target. "I still believe there's a possible $2 billion windfall based on incremental litigation recoveries," he says. Our advice? Take the 36% gain and then wait to see if you can get another shot later below $20.
I own MBI. It is a million times better than Ambac. MBI takes care of it's shareholders. Does Ambac ?
Sentiment: Strong Sell
Nobody should buy this company. They are ruthless and care nothing about Commons. Stay away. There are better companies out there to invest you money in.
Sentiment: Strong Sell
if you are the bond holder ,you knew you were going to $#%@% ..... if u have the victory in your hand you should thank to Judge..
Ambac Announces Disapproval of Interest Payments on Surplus Notes
Provides Additional Information Related to Proposed Amendments to Plan of Rehabilitation of Segregated Account
NEW YORK, April 29, 2014 (GLOBE NEWSWIRE) -- Ambac Financial Group, Inc. (Nasdaq:AMBC) ("Ambac"), a holding company whose subsidiaries provide financial guarantees and other financial services to clients in both the public and private sectors globally, announced today that the Wisconsin Commissioner of Insurance (the "Commissioner") has disapproved the requests of Ambac Assurance Corporation ("Ambac Assurance") and the Segregated Account of Ambac Assurance Corporation (the "Segregated Account") to pay accrued interest on surplus notes ("Surplus Notes") issued by Ambac Assurance and the Segregated Account, respectively, on their next scheduled interest payment date of June 7, 2014.
As previously announced, the Commissioner, in his capacity as Court-appointed rehabilitator of the Segregated Account (the "Rehabilitator"), is seeking approval from the Rehabilitation Court (Circuit Court of Dane County, Wisconsin) to amend the Rehabilitation Plan of the Segregated Account (the "Plan"), with a hearing currently scheduled for June 11, 2014. If the motion is approved, the Rehabilitator has confirmed that he intends to (i) increase the percentage of the initial cash payments ("Interim Payments") for permitted policy claims from 25% to 45% with effect from the later of July 20, 2014, and, if the amended Plan is not effective as of such date, the first Payment Date (generally, the 20th of the month) specified by the Rehabilitator following the amended Plan effective date (the "Reconciliation Date" as defined in the amended Plan), and (ii) pay to policyholders who received 25% Interim Payments, catch-up payments equal to 26.67% of the remaining balance of such claims ("Deferred Amounts") (including interest thereon) outstanding on the Reconciliation Date.
If the amended Plan is approved, the
From the amended filing, wci estimates segragated losses to be less than expected and approximately 1 billion less than ambac stated loss reserves, hence the increased payment which is almost 92% recovery for policy holders.
My guess is that the increase in cash payment for the seggregated accounts is a reflection of increased
financial strengh of Ambac. Accordingly, the shares jumped in price to reflect the new financial strength.
The increase in cash payments is indicative that the studies that valued Ambac shares near 20 do not reflect reality.