Ambac Financial Group Inc (AMBC)

[Trader0327]

No, I don't like to guess.

Postponing does not sound like something that is good.


Ambac Financial puts off releasing earnings report
Ambac Financial delays earnings report as talks continue with Wisconsin, other parties

NEW YORK (AP) -- Troubled bond insurer Ambac Financial Group Inc. on Tuesday delayed filing its fourth-quarter and full-year financial results.

It originally was to release results on Tuesday for the periods that ended Dec. 31.

In a filing with the Securities and Exchange Commission, the company said it cannot file them on time without unreasonable effort or expense until it concludes talks with Wisconsin's insurance commissioner and with other businesses it is obligated to.

The company said in the filing that it saw significant losses from its exposure to defaults on residential mortgage derivatives, and it lost $573 million, or $1.99 per share, for the first nine months of 2009.

But company said is better than 2008, when it posted a loss of $5.6 billion, or $22.31 per share, for the year.

The company said in November that it may run out of money and be forced to file for bankruptcy court protection. Its chief financial officer also left.

Shares fell 1 cent to 76 cents in morning trading.

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