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NEWS ABOUT: Ambac

Dow Plummets to Below 12,000

An oil boost and continued financial woes batter the markets

(Newser) - The markets tumbled today to lows not seen since the Bear Stearns fiasco in March, MarketWatch reports. Oil surged back over $135 a barrel, erasing yesterday’s meager gains, and bad news continued to depress financials. The Dow fell 220.40 to 11,842.69, the Nasdaq 55.87 to... More »

Stocks Again Stuck in Neutral

Conflicting news on financials hinders the market

(Newser) - The markets finished mixed today as fears over the financial sector clashed with positive economic reports. Moody’s said it may downgrade ratings for Ambac Financial and MBIA because of continued mortgage-related losses, MarketWatch reports, helping the Dow down 12.37 to 12,390.48. The Nasdaq gained 22.66,... More »

Techs Give Lift to Markets

Stocks post modest gains as some financials struggle

(Newser) - Stocks ended slightly up today on mixed news, as techs did well but many financials struggled. "Tech is one of the few bright spots across a sluggish earnings quarter," a market strategist tells the Wall Street Journal. The Dow ended up 42.99 to 12,763.22, the... More »

Early Rally Falls Flat, Recovers

Stocks creep back up after a hit from Ambac plan

(Newser) - After an early rally, stocks fell after being hit with news on Ambac Financial's restructuring plan, but then regained some of the lost territory by the closing bell. Shares fell after Ambac said that instead of a bailout plan, it would raise money through a sell-off and restructuring, reports CNNMoney.... More »

Stocks Recover After Big Losses

Talk of Ambac bailout leads to late rally

(Newser) - News of an impending bailout for bond insurer Ambac helped the markets recover from steep losses and end today's session down only slightly, MarketWatch reports. Down by 200 points at 2:30, the Dow closed only 45.10 down, ending at 12,213.80. The Nasdaq rose 1.68 to... More »

Berkshire Hathaway's Q4 Income Off 18%

Insurance-industry woes mean 'that party is over,' Buffett says

(Newser) - Citing a decline in gains from insurance underwriting and sluggish investment returns, holding company Berkshire Hathaway said today that fourth-quarter income was off 18%—to $2.95 billion, from $3.58 billion—from a year earlier, the Wall Street Journal reports. Billionaire chairman Warren Buffett snuck in digs at Wall... More »

Tanking Dow Drops 315 Points

Huge AIG, Dell losses spark sell-off

(Newser) - The Dow lost an incredible 315.79 points today to close at 12,266.39 as AIG reported the biggest losses in its history and bellwether Dell reported a year-over-year fourth-quarter profit decline of 6%. The Nasdaq slipped 60.09 to 2,271.48, and the S&P 500 lost... More »

Stocks Surge in Late Comeback

Depressing day reverses on news of possible Ambac bailout

(Newser) - Traders faced heavy losses across the board today until a late rally on news of a possible bailout for a major bond insurer sent prices soaring to gains, MarketWatch reports. The Dow rose 96.72 points to close at 12,381.02, the Nasdaq gained 3.57 points to 2,... More »

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