Investment-blog.net: Stocks, Emerging markets, Bonds, Currencies and Commodities

JPMorgan Cuts Stake In Ambac To 0.4% From 7.7% >JPM ABK

Last Update: 4/9/2008 4:27:17 PM

DOW JONES NEWSWIRES

JPMorgan Chase & Co. (JPM) reported Wednesday that it has cut its passive stake
in Ambac Financial Group Inc. (ABK) to 0.4% from 7.7%.

JPMorgan beneficially owned 1.37 million shares of the New York bond insurer as
of March 31, down from 7.82 million shares it held as of Dec. 31, 2007, according
to a filing with the Securities and Exchange Commission.

JPMorgan reported its Ambac stake on a form for passive investors, who don’t seek
to change or influence a company’s operations.

Shares of Ambac closed Wednesday at $5.65 each, down 38 cents, or 6.5%.

-Denise Jia, Dow Jones Newswires; 202-862-1359; denise.jia@dowjones.com

(END) Dow Jones Newswires

April 09, 2008 16:27 ET (20:27 GMT)

Did you like this? If so, please bookmark it,

about it, and subscribe to the blog RSS feed.

Possibly Related Posts:

• Why Crude Oil Prices will Decline
• 15 reminders of how happy talk misled us a decade ago
• “How I made a million in the stock market”
• Lower Rates: tough to get. Mortgage applications find it’s harder to qualify.
• Regarding the “ratio of debt to GDP” and other data.

Did you like this? If so, please bookmark it, about it, and subscribe to the blog RSS feed.