DALLAS, April 13, 2010 (GLOBE NEWSWIRE) -- StockPreacher.com announces an investment report featuring Ambac Financial Group Inc. (NYSE:ABK). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
The full report is available at: http://www.stockpreacher.com/n/ABK
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Ambac Financial Group Inc. (ABK) is primarily a holding company. The Company, through its subsidiaries, provides financial guarantees and financial services to clients in both the public and private sectors worldwide. ABK's activities are divided into two business segments. The Financial Guarantee segment provides financial guarantees (including credit derivatives) for public finance, structured finance and other obligations. The Financial Services segment provides investment agreements, funding conduits, interest rate, total return and currency swaps, principally to clients of the financial guarantee business. During the year ended December 31, 2008, the Company discontinued writing new investment agreements and derivative products in its Financial Services segment.
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In the report, the analyst notes:
"ABK recently announced fourth-quarter 2009 net income of $558.1 million, or net income of $1.93 per diluted share. This compares to a fourth-quarter 2008 net loss of $2,340.8 million, or net loss of $8.14 per share. The fourth quarter 2009 results reflect a tax benefit recorded during the period, reduced loss and loss expenses recorded relative to fourth quarter 2008, and unrealized mark-to-market gains in the credit derivatives portfolio.
"On March 24, 2010, the Office of the Commissioner of Insurance of the State of Wisconsin (OCI) filed a petition in state court to rehabilitate the Segregated Account of Ambac Assurance Corp. Ambac Assurance Corp. (AAC) is the principal operating insurance company of ABK. The rehabilitation pertains solely to the recently established Segregated Account (the Segregated Account), which is a separate insurer from AAC for purposes of rehabilitation. The rehabilitation does not include AAC or its General Account. …"
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