Ambac Financial Group (NYSE:AMBC) Stock

Ambac Financial Group

Ambac Financial Group Inc is a financial services holding company. The business operations of the company include Legacy Financial Guarantee Insurance, Specialty Property and Casualty Insurance and Insurance Distribution. The Company has three reportable segments namely Legacy Financial Guarantee Insurance, Specialty Property and Casualty Insurance and Insurance Distribution. Majority of revenues are earned from Legacy Financial Guarantee Insurance segment.

Handshake cash-Photo by Capri23auto from Pixabay

Analyst Color

Long Ideas

Upgrades

Price Target

Analyst Ratings

Movers

Trading Ideas

AMBC

The sale of Ambac Financial Group&#39;s financial guarantee business will position the holding company for cash earnings &#34;within a year or two.&#34;

Ambac Financial Group Will Be Better Positioned Once Sale Of Financial Guarantee Business Closes, Analyst Says

Earnings

News

Small Cap

Markets

ProAssurance Corporation (NYSE: PRA) is set to report its second-quarter 2024 results on Aug 8, after the closing bell.

ProAssurance Q2 Earnings: Profit Climb or Slippery Slope?

xr:d:DAFtH5xd8iU:2,j:4016486423666345323,t:23083115

Intraday Update

ASNS

BGXX

BNED

CLEU

CMPS

CVAC

DLTR

DOYU

FBLG

FRES

GDHG

GWRE

HLTH

JDZG

JEWL

MITQ

MLGO

MMYT

MNMD

MPLN

MYND

NDRA

NVAX

NVVE

OLLI

SFIX

SGRP

SILO

SOBR

SYTA

THMO

UMAC

UNFI

VLCN

VRNT

VSTE

WKME

XTIA

Why Lands&#39; End Shares Are Trading Lower? Here Are Other Stocks Moving In Wednesday&#39;s Mid-Day Session

Ambac Financial Group Inc

WIIM

Ambac Financial Group shares are trading higher after the company reported better-than-expected Q3 revenue results.

Ambac Financial Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMBC#NYSE">AMBC</a>) reported quarterly losses of $(0.46) per share which missed the analyst consensus estimate of $0.08 by 675 percent. The company reported quarterly sales of $114.000 million which beat the analyst consensus estimate of $75.880 million by 50.24 percent. This is a 54.05 percent increase over sales of $74.000 million the same period last year.

Earnings Beats

Earnings Misses

Ambac Financial Group Q3 2024 Adj. EPS $(0.46) Misses $0.08 Estimate, Sales $114.000M Beat $75.880M Estimate

ABOS

ABSI

ACNT

ACTG

AENT

AGEN

AIOT

AIRG

ALIT

ALTG

AMPS

AMTX

APEI

AREB

ARIS

ARMN

ATRA

AUTL

Avadel Pharmaceuticals plc - American Depositary Shares each representing one Ordinary Share

AVDL

AXSM

AZTA

BHIL

BLDE

BLFS

BLTE

The Beachbody Company, Inc. Class A Common Stock

BODI

BRTX

BTMD

BTTR

BWAY

BXSL

BZFD

CAMT

CART

CATX

CAVA

CBAT

CBLL

CCLD

CGEN

CHGG

CHMI

CLSD

CNNE

CRNX

CRON

CRVS

CRWS

CXAI

DAVA

DAVE

DRCT

DYAI

EARN

EGAN

ELMD

ETON

EVCM

EVGO

EYEN

FENG

FGEN

FIHL

FLNG

FOUR

FTCI

GENI

GENK

GMGI

GOVX

GRAL

GRDN

GROV

GRPN

GRVY

Earnings Scheduled For November 12, 2024

After declining since the beginning of 2024, shares of Ambac Financial Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMBC#NYSE">AMBC</a>) have risen by <a href="https://www.benzinga.com/quote/AMBC">almost 10% over the past five trading sessions</a>.
The sale of Ambac Financial Group's legacy financial guarantee business is expected to close by yearend, positioning the holding company for cash earnings "within a year or two," according to Roth Capital Partners.
<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58580534ee7bf60001bcfa15/harry-fong">Analyst Harry Fong</a> upgraded the rating for Ambac Financial Group from Neutral to Buy, while raising the price target from $13 to $15.
The Ambac Financial Group Thesis: Following the close of the financial guarantee business sale, the company will commence a share repurchase program of up to $50 million, which would lend upside to the stock, Fong said in the upgrade note.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
The company will have around $180 million of deployable cash after the close of the sale of its financial guarantee business, Ambac Acceptance Corp (AAC), to Oaktree Capital Management, after repaying the bridge loan and plans to use up to $50 million of these funds for share repurchases, the analyst stated.
"However, we believe the company will only repurchase shares at current levels up to about $15 per share as it needs capital for acquisitions chiefly in the distribution business," he added.
"It will take more time for the company to fully roll out its new specialty insurance distribution business, but there are potentially some other strategic changes that could gain more investor enthusiasm sooner such as selling its underwriting operation, which we do not believe is core to its strategy," Fong further wrote.
AMBC Price Action: Shares of Ambac Financial Group had risen by 6.18% to $11.86 at the time of publication on Wednesday.
Read More: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/08/40225746/proassurance-q2-earnings-profit-climb-or-slippery-slope">ProAssurance Q2 Earnings: Profit Climb or Slippery Slope?</a></li>
</ul>

Ambac Financial Group shares are trading higher after Roth MKM upgraded the stock from Neutral to Buy and raised its price target from $13 to $15.

Roth MKM analyst Harry Fong upgrades Ambac Financial Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMBC#NYSE">AMBC</a>) from Neutral to Buy and raises the price target from $13 to $15.

Roth MKM Upgrades Ambac Financial Group to Buy, Raises Price Target to $15

ProAssurance Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pra#NYSE">PRA</a>) is set to report its second-quarter 2024 results on Aug 8, after the closing bell.
The Zacks Consensus Estimate for second-quarter earnings is currently pegged at 8 cents per share, implying a decline of 50% from the year-ago reported number. The estimate remained stable over the past month. The Zacks Consensus Estimate for second-quarter revenues is currently pegged at almost $273.7 million, suggesting a 3.1% fall from the year-ago actuals.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/b7/73610.jpg?v=1011417650" style="border-style:solid; border-width:1px; height:310px; width:600px" />
Image Source: Zacks Investment Research
ProAssurance beat the consensus estimate for earnings in two of the trailing four quarters and missed twice, with the average surprise being negative 42.9%, as you can see below.
<div class="chart_embed">
<h3>ProAssurance Corporation Price and EPS Surprise</h3>
<img alt="ProAssurance Corporation Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/76/1723034329.png" style="border-style:solid; border-width:1px; height:310px; width:600px" title="" />
ProAssurance Corporation price-eps-surprise | ProAssurance Corporation Quote
</div>
<h3>Q2 Earnings Whispers</h3>
Our proven model does not conclusively predict an earnings beat for ProAssurance this time around. The combination of a positive&nbsp;Earnings ESP&nbsp;and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. That is not the case here, as you will see below.
Earnings ESP: The company has an Earnings ESP of 0.00%. This is because the Most Accurate Estimate currently stands at 8 cents per share, in line with the Zacks Consensus Estimate.
Zacks Rank: ProAssurance currently carries a Zacks Rank #3.
Now, let&#39;s see how things have shaped up before the second-quarter earnings announcement.
<h3>Q2 Key Predictions</h3>
ProAssurance&#39;s second-quarter results are expected to have been affected by lower premiums, weaker contributions from the segments and deteriorating ratios. The negatives are likely to have been partially offset by growth in investment income.
The Zacks Consensus Estimate for net premiums earned indicates a 5.2% year-over-year decline, whereas our estimate suggests a 6.1% fall. The consensus mark for Specialty P&amp;C Segment&#39;s operating loss is pegged at $14.3 million, while our model estimate stands at a loss of $12.9 million.
Similarly, the consensus estimate for Workers&#39; Compensation operating loss is pegged at $6.4 million, wider than the year-ago level of $2.5 million. Also, the consensus estimate and our model estimate for Segregated Portfolio Cell Reinsurance&#39;s profits indicate around 36% year-over-year fall. The renewal rate is expected to have declined in the second quarter.
The consensus mark for the combined ratio is pegged at 112.35%, while our estimate suggests 112.37% compared with the year-ago level of 108.20%. A higher combined ratio suggests that the company has less premium left after claim settlements.
The consensus mark for the underwriting expense ratio is pegged at 31.62%, while our estimate stands at 31.91% compared with the year-ago level of 31.10%. These factors are expected to have positioned the company for a year-over-year decline in profits, making an earnings beat uncertain.
Nevertheless, higher investment income due to the high-interest rate environment is likely to have provided some breathing room. The Zacks Consensus Estimate for net investment income indicates an 8.9% year-over-year increase, while our estimate suggests 8.1% growth.
<h3>Price Performance</h3>
ProAssurance&#39;sstock has lost 16.2% year to date, against the industry&#39;s rally of 17.3%. The S&amp;P 500 Index registered a 10% gain during this time. In comparison, its peers like Universal Insurance Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/uve#NYSE">UVE</a>) and Ambac Financial Group, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ambc#NYSE">AMBC</a>) increased 16.9% and decreased 36.9%, respectively, during the same period.
<h3>YTD Price Performance</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/d5/73611.jpg?v=1673120884" style="border-style:solid; border-width:1px; height:310px; width:600px" />
Image Source: Zacks Investment Research
<h3>What Should Investors Do Now?</h3>
Given ProAssurance&#39;s cost-control and inorganic growth efforts and rising investment income, current investors may consider holding onto the stock and closely monitoring the upcoming earnings results. The decline in stock price has improved its valuation as compared with the industry average. However, it faces several challenges, including increasing competition, an anticipated decline in premiums and profits and a high leverage ratio. These headwinds suggest that new investors might want to wait and observe how the company navigates these challenges before making any investment decisions.
<a href="https://www.zacks.com/stock/news/2318163/proassurance-pra-q2-earnings-profit-climb-or-slippery-slope?cid=CS-BENZ-FT-analyst_blog|earnings_preview-2318163">To read this article on Zacks.com click here.</a>

Ambac Financial Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMBC#NYSE">AMBC</a>) reported quarterly earnings of $0.18 per share which beat the analyst consensus estimate of $0.15 by 20 percent. This is a 157.14 percent increase over earnings of $0.07 per share from the same period last year. The company reported quarterly sales of $105.000 million which beat the analyst consensus estimate of $73.300 million by 43.25 percent. This is a 69.35 percent increase over sales of $62.000 million the same period last year.

Ambac Financial Group Q2 2024 Adj. EPS $0.18 Beats $0.15 Estimate, Sales $105.000M Beat $73.300M Estimate

Ambac Financial Group Launches Tara Hill Insurance Services With Peter McKeegan As CEO; Tara Hill To Specialize In Management And Professional Liability As Part Of Cirrata Group

Shares of Lands&#8217; End, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LE#NASDAQ">LE</a>) fell sharply during Wednesday's session following<a href="https://www.benzinga.com/quote/LE/earnings"> first-quarter results</a>.
Lands&#8217; End reported quarterly adjusted loss of 20 cents per share which beat the analyst consensus estimate of 26 cents per share. The company reported quarterly sales of $285.47 million which beat the analyst consensus estimate of $269.82 million, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Lands&#8217; End shares dipped 9.3% to $12.60 on Wednesday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Actelis Networks, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASNS#NASDAQ">ASNS</a>) shares jumped 512% to $2.88 after the company announced orders for cyber-hardened networking technology to be deployed at three US military bases.</li>
<li>Nuvve Holding Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVVE#NASDAQ">NVVE</a>) shares jumped 150% to $1.42.</li>
<li>ENDRA Life Sciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDRA#NASDAQ">NDRA</a>) shares gained 82.2% to $0.1549. ENDRA Life Sciences shares dipped over 60% on Tuesday after the company announced the pricing of an $8 million public offering.</li>
<li>mF International Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MFI#NASDAQ">MFI</a>) gained 66.9% to $2.17 after jumping 38% on Tuesday.</li>
<li>Moving iMage Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MITQ#NASDAQ">MITQ</a>) gained 53.2% to $1.0750 after the company was awarded a multi-million dollar contract.</li>
<li>Siyata Mobile Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYTA#NASDAQ">SYTA</a>) gained 52.5% to $2.1200 after the company announced a new partnership with JD Telecom.</li>
<li>WalkMe Ltd.  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WKME#NASDAQ">WKME</a>) gained 42.1% to $13.70 after the company announced it entered into a definitive agreement to be acquired by SAP.</li>
<li>Stitch Fix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SFIX#NASDAQ">SFIX</a>) rose 34.9% to $3.6010 following better-than-expected third-quarter financial results.</li>
<li>XTI Aerospace, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XTIA#NASDAQ">XTIA</a>) jumped 30% to $1.1877 after the company announced Mesa Air Group is the purchaser under a previously disclosed conditional purchase order with XTI Aircraft Company.</li>
<li>Unusual Machines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMAC#NYSE">UMAC</a>) rose 27.2% to $1.9002.</li>
<li>Hywin Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HYW#NYSE">HYW</a>) gained 24.9% to $0.7379.</li>
<li>China Liberal Education Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLEU#NASDAQ">CLEU</a>) rose 21.1% to $1.2710.</li>
<li>Multi Ways Holdings Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MWG#NYSE">MWG</a>) gained 19.4% to $0.5741.</li>
<li>Mynd.ai, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MYND#NYSE">MYND</a>) rose 16.6% to $2.95.</li>
<li>Vir Biotechnology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VIR#NASDAQ">VIR</a>) gained 16.4% to $12.31 after the company announced new preliminary data from its Phase 2 SOLSTICE hepatitis delta clinical trial evaluating tobevibart.</li>
<li>3D Systems Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DDD#NYSE">DDD</a>) gained 16% to $4.030 after the company received a multi-year purchase agreement with an estimated value of around a quarter-billion dollars.</li>
<li>Laird Superfood, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LSF#NYSE">LSF</a>) gained 15.6% to $4.3350.</li>
<li>Verint Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRNT#NASDAQ">VRNT</a>) rose 15.3% to $32.54 after the company reported better-than-expected first-quarter financial results and issued strong FY25 guidance.</li>
<li>Hewlett Packard Enterprise Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) shares rose 15.1% to $20.26 as the company reported better-than-expected second-quarter financial results.</li>
<li>Guidewire Software, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GWRE#NYSE">GWRE</a>) gained 15% to $124.20 after the company reported better-than-expected third-quarter financial results and issued FY24 revenue guidance above estimates.</li>
<li>United Natural Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNFI#NYSE">UNFI</a>) jumped 12.7% to $13.69 following upbeat quarterly earnings.</li>
<li>CureVac N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVAC#NASDAQ">CVAC</a>) gained 10.4% to $4.46.</li>
<li>Novavax, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVAX#NASDAQ">NVAX</a>) rose 10.2% to $19.57.</li>
<li>Bright Green Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BGXX#NASDAQ">BGXX</a>) shares rose 8.2% to $0.3204 after gaining around 5% on Tuesday.</li>
<li>Ollie&#8217;s Bargain Outlet Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OLLI#NASDAQ">OLLI</a>) gained 7.8% to $88.43 following better-than-expected first-quarter earnings.</li>
<li>MakeMyTrip Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MMYT#NASDAQ">MMYT</a>) gained 6.8% to $78.68.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Concord Medical Services Holdings Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCM#NYSE">CCM</a>) fell 37.7% to $1.3099 after jumping 166% on Tuesday.</li>
<li>Barnes &amp; Noble Education, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BNED#NYSE">BNED</a>) shares declined 35% to $0.2699.</li>
<li>MicroAlgo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MLGO#NASDAQ">MLGO</a>) shares dipped 33.2% to $8.02. MicoAlgo shares jumped around 670% on Tuesday after the company announced that it will jointly establish a micro-consciousness quantum research center with WiMi.</li>
<li>Silo Pharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SILO#NASDAQ">SILO</a>) declined 30.6% to $1.55 after the company announced a $2 million registered direct offering.</li>
<li>SOBR Safe, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOBR#NASDAQ">SOBR</a>) shares fell 29.2% to $0.3236 after surging 75% on Tuesday.</li>
<li>Latam Logistic Properties, S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LPA#NYSE">LPA</a>) fell 24.7% to $138.91.</li>
<li>JIADE Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JDZG#NASDAQ">JDZG</a>) fell 23% to $ 1.3450</li>
<li>Cue Health Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HLTH#NASDAQ">HLTH</a>) fell 21.3% to $0.0486.</li>
<li>Volcon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VLCN#NASDAQ">VLCN</a>) shares declined 21% to $0.1318 after the company announced a 1-for-100 reverse stock split.</li>
<li>SPAR Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGRP#NASDAQ">SGRP</a>) fell 19.9% to $2.2668 after the company announced that it entered into a letter of intent to go private with Highwire Capital.</li>
<li>Power REIT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PW#NYSE">PW</a>) fell 19.8% to $0.9001.</li>
<li>FibroBiologics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FBLG#NASDAQ">FBLG</a>) dipped 19.3% to $7.27.</li>
<li>Adamas One Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JEWL#NASDAQ">JEWL</a>) dipped 18.8% to $ 0.3062.</li>
<li>Adlai Nortye Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANL#NASDAQ">ANL</a>) fell 17% to $5.17</li>
<li>Vast Renewables Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSTE#NASDAQ">VSTE</a>) shares fell 16.4% to $3.75 after jumping around 67% on Tuesday.</li>
<li>Mind Medicine (MindMed) Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNMD#NASDAQ">MNMD</a>) shares fell 16.2% to $6.92 after declining 5% on Tuesday.</li>
<li>Ambac Financial Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMBC#NYSE">AMBC</a>) shares declined 15.6% to $14.53. Ambac Financial Group announced plans to acquire a majority stake in Beat Capital Partners.</li>
<li>Golden Heaven Group Holdings Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GDHG#NASDAQ">GDHG</a>) shares fell 13.7% to $0.1938 after declining around 4% on Tuesday.</li>
<li>Fortuna Silver Mines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSM#NYSE">FSM</a>) dipped 13.6% to $5.10 after the company announced a $150 million offering of convertible senior notes.</li>
<li>ThermoGenesis Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/THMO#NASDAQ">THMO</a>) shares declined 13.4% to $0.5534 after gaining over 10% on Tuesday.</li>
<li>Fresh2 Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRES#NASDAQ">FRES</a>) shares fell 11% to $0.3970 after gaining 13% on Tuesday.</li>
<li>COMPASS Pathways plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMPS#NASDAQ">CMPS</a>) shares fell 10.6% to $6.84.</li>
<li>MultiPlan Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPLN#NYSE">MPLN</a>) declined 7.8% to $0.4342</li>
<li>DouYu International Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DOYU#NASDAQ">DOYU</a>) fell 4.7% to $9.64 following first-quarter results.</li>
<li>Dollar Tree, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>) shares fell 4.3% to $115.11 after the company reported first-quarter earnings and announced a review of strategic alternatives for its Family Dollar business.</li>
<li>Brown-Forman Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BF#NYSE">BF</a>) fell 4% to $43.90 following mixed quarterly earnings.</li>
<li>Designer Brands Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DBI#NYSE">DBI</a>) fell 3.9% to $8.40. The company, on Tuesday, reported first-quarter FY24 sales growth of 0.6% year-on-year to $746.596 million, beating the analyst consensus estimate of $741.630 million.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/06/39184853/jim-cramer-energy-transfer-has-done-a-very-good-job-recommends-selling-this-tech-stock">Jim Cramer: Energy Transfer Has &#8216;Done A Very Good Job,&#8217; Recommends Selling This Tech Stock</a>

Why Lands' End Shares Are Trading Lower? Here Are Other Stocks Moving In Wednesday's Mid-Day Session

Ambac Financial Group shares are trading lower after the company announced it signed a definitive agreement to acquire a 60% controlling stake in Beat Capital Partners. The company signed a definitive agreement to sell its legacy financial guarantee business.

Asset Sales

Ambac Financial Group Signed A Definitive Agreement To Sell Its Legacy Financial Guarantee Businesses, Ambac Assurance Corporation And Ambac UK, To Funds Managed By Oaktree Capital Management For $420M In Cash

Ambac Financial Group Signed A Definitive Agreement To Acquire A 60% Controlling Stake In Beat Capital Partners Limited For About $282M, Up To $40M Of Which Will Be Paid In Shares Of Ambac Common Stock And Remainder Will Be Paid In Cash

Compass Point analyst Giuliano Bologna maintains Ambac Financial Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMBC#NYSE">AMBC</a>) with a Buy and raises the price target from $18 to $19.

Compass Point Maintains Buy on Ambac Financial Group, Raises Price Target to $19

Shares of Beyond, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYON#NYSE">BYON</a>) fell sharply during Tuesday&#8217;s session following weaker-than-expected <a href="https://www.benzinga.com/quote/BYON">quarterly results</a>.
Beyond posted adjusted loss of $1.22 per share, versus estimates for a loss of 87 cents per share. The company&#8217;s sales came in at $382.281 million versus estimates of $389.264 million, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Beyond shares dipped 20.8% to $17.34 on Tuesday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Golden Sun Health Technology Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSUN#NASDAQ">GSUN</a>) shares gained 94.7% to $5.60. Golden Sun Health Technology Group regained compliance with Nasdaq continued listing requirement.</li>
<li>MMTec, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTC#NASDAQ">MTC</a>) gained 79.1% to $4.1189.</li>
<li>Nuwellis, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUWE#NASDAQ">NUWE</a>) shares climbed 50.5% to $0.2572 after the company posted a narrower-than-expected quarterly loss.</li>
<li>Great Lakes Dredge &amp; Dock Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GLDD#NASDAQ">GLDD</a>) rose 31.5% to $9.26 following better-than-expected first-quarter financial results.</li>
<li>American Strategic Investment Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYC#NYSE">NYC</a>) jumped 29.6% to $7.52.</li>
<li>Motorsport Games Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSGM#NASDAQ">MSGM</a>) gained 29.2% to $2.9493. Motorsport Games is expected to report its financial results for the first quarter of 2024 on Tuesday, May 7.</li>
<li>FibroGen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FGEN#NASDAQ">FGEN</a>) surged 28.7% to $1.4899 after the company reported mixed first quarter financial results.</li>
<li>Bioventus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BVS#NASDAQ">BVS</a>) rose 26.7% to $5.07 after the company reported better-than-expected first-quarter financial results and raised its FY24 guidance above estimates.</li>
<li>reAlpha Tech Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIRE#NASDAQ">AIRE</a>) gained 25.1% to $1.0699 after the company announced the completion of its previously announced acquisition of Naamche.</li>
<li>Dave Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAVE#NYSE">DAVE</a>) gained 25% to $58.20 after the company reported better-than-expected first-quarter financial results and issued FY24 operating revenue.</li>
<li>Clearmind Medicine Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMND#NASDAQ">CMND</a>) surged 24.8% to $1.46 after the company signed an exclusive patent licensing agreement with Yissum Research Development Company.</li>
<li>Thoughtworks Holding, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TWKS#NASDAQ">TWKS</a>) jumped 22% to $3.0750 after the company issued strong guidance.</li>
<li>The Real Brokerage Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REAX#NASDAQ">REAX</a>) gained 21.5% to $5.07 following strong quarterly sales.</li>
<li>Global Self Storage, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SELF#NASDAQ">SELF</a>) rose 21.2% to $5.05.</li>
<li>Zeta Global Holdings Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZETA#NASDAQ">ZETA</a>) rose 21% to $15.72 after the company reported better-than-expected first-quarter financial results and increased its second-quarter revenue guidance.</li>
<li>Jumia Technologies AG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JMIA#NASDAQ">JMIA</a>) climbed 19.3% to $6.53 after the company reported a year-over-year increase in first-quarter revenue results.</li>
<li>Bandwidth Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BAND#NASDAQ">BAND</a>) gained 19.2% to $24.45 after the company reported better-than-expected first-quarter financial results and issued FY24 revenue guidance above estimates.</li>
<li>ADTRAN Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADTN#NASDAQ">ADTN</a>) climbed 18.4% to $5.58 following upbeat quarterly results.</li>
<li>Jumia Technologies AG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JMIA#NASDAQ">JMIA</a>) gained 18.3% to $6.47 after the company reported a year-over-year increase in first-quarter revenue results.</li>
<li>Ambac Financial Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMBC#NYSE">AMBC</a>) shares rose 16.5% to $17.64 following better-than-expected first-quarter earnings.</li>
<li>FibroGen, Inc.  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FGEN#NASDAQ">FGEN</a>) gained 15.5% to $1.34 after the company reported mixed first-quarter financial results.</li>
<li>Sterling Infrastructure, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STRL#NASDAQ">STRL</a>) rose 15.1% to $121.27 after the company reported better-than-expected first-quarter financial results.</li>
<li>Coca-Cola Consolidated, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COKE#NASDAQ">COKE</a>) jumped 14.5% to $981.96 following first-quarter results.</li>
<li>Fabrinet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FN#NYSE">FN</a>) gained 14% to $215.29 after the company reported better-than-expected third-quarter financial results and issued fourth-quarter adjusted EPS guidance above estimates.</li>
<li>J&amp;J Snack Foods Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JJSF#NASDAQ">JJSF</a>) gained 13.5% to $156.51 following better-than-expected quarterly results.</li>
<li>Artivion, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AORT#NYSE">AORT</a>) gained 13.4% to $23.90 following strong quarterly results.</li>
<li>EverQuote, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVER#NASDAQ">EVER</a>) gained 12.7% to $24.09 after the company reported better-than-expected first quarter financial results and issued second quarter revenue guidance above estimates.</li>
<li>Air Transport Services Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATSG#NASDAQ">ATSG</a>) rose 12.7% to $14.94 following upbeat earnings.</li>
<li>Surgery Partners, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGRY#NASDAQ">SGRY</a>) gained 9.3% to $27.98 following upbeat earnings.</li>
<li>Crocs, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CROX#NASDAQ">CROX</a>) climbed 8.6% to $137.52 following first quarter financial results.</li>
<li>Symbotic Inc.  (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYM#NYSE">SYM</a>) shares rose 8.1% to $45.33 after the company reported mixed second-quarter financial results.</li>
<li>UBS Group AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>) shares gained 8% to $29.81 after the company posted better-than-expected results for its first quarter.</li>
<li>Hims &amp; Hers Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIMS#NYSE">HIMS</a>) shares gained 6.9% to $12.45 after the company reported better-than-expected first-quarter financial results and issued FY24 revenue guidance above estimates.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Holdco Nuvo Group D.G Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUVO#NASDAQ">NUVO</a>) fell 39.2% to $3.1999 after jumping 157% on Monday.</li>
<li>The Real Good Food Company, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGF#NASDAQ">RGF</a>) dipped 32.6% to $0.5312.</li>
<li>Neuronetics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STIM#NASDAQ">STIM</a>) fell 32.5% to $2.5281 following quarterly results.</li>
<li>AgriFORCE Growing Systems Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGRI#NASDAQ">AGRI</a>) shares fell 27.4% to $0.1048 after the company announced an offering of 432.5 million shares by selling stockholders.</li>
<li>Strong Global Entertainment, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGE#NYSE">SGE</a>) fell 27.4% to $1.9201. Fundamental Global announced acquisition of Strong/MDI Screen Systems, Inc. by FG Acquisition Corp. at a $30 million valuation.</li>
<li>GreenPower Motor Company Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GP#NASDAQ">GP</a>) shares declined 25.6% to $1.35 after the company reported pricing of $2.3 million underwritten public offering.</li>
<li>JELD-WEN Holding, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JELD#NYSE">JELD</a>) fell 23.5% to $14.56 as the company posted downbeat quarterly sales and lowered 2024 revenue guidance.</li>
<li>Oriental Culture Holding LTD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCG#NASDAQ">OCG</a>) dipped 22.6% to $1.2001.</li>
<li>BT Brands, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTBD#NASDAQ">BTBD</a>) fell 21.4% to $1.25.</li>
<li>Plutonian Acquisition Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTN#NASDAQ">PLTN</a>) shares fell 19.3% to $11.41 after surging 57% on Monday.</li>
<li>Talkspace, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TALK#NASDAQ">TALK</a>) fell 18.3% to $2.60 following first-quarter results.</li>
<li>Helius Medical Technologies, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HSDT#NASDAQ">HSDT</a>) shares declined 16.2% to $2.03 after the company announced pricing of $6.4 million public offering.</li>
<li>Paymentus Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAY#NYSE">PAY</a>) fell 15.5% to $18.76 following first-quarter results.</li>
<li>Myers Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MYE#NYSE">MYE</a>) declined 15.5% to $19.43 following first-quarter results.</li>
<li>Builders FirstSource, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLDR#NYSE">BLDR</a>) dipped 15.4% to $170.00 following first-quarter earnings.</li>
<li>Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) fell 14.3% to $21.56 following soft revenue guidance.</li>
<li>AudioCodes Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AUDC#NASDAQ">AUDC</a>) shares fell 13% to $9.89 after the company reported worse-than-expected <a href="https://www.benzinga.com/quote/AUDC/earnings">first-quarter financial results</a></li>
<li>First Watch Restaurant Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FWRG#NASDAQ">FWRG</a>) dipped 12.6% to $21.96 following weak quarterly sales.</li>
<li>Teradata Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDC#NYSE">TDC</a>) dipped 11.4% to $33.63 after the company reported mixed first-quarter financial results and issued second-quarter guidance.</li>
<li>Lucid Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) shares fell 11.2% to $2.71 after the company reported mixed first-quarter financial results.</li>
<li>The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) dipped 9.6% to $105.28 following a second-quarter revenue miss.</li>
<li>Methode Electronics, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MEI#NYSE">MEI</a>) fell 9.4% to $11.37. Methode Electronics named Kevin Nystrom as interim CEO, effective immediately.</li>
<li>Datadog, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DDOG#NASDAQ">DDOG</a>) fell 8.9% to $115.57 following first-quarter results.</li>
<li>Air Lease Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AL#NYSE">AL</a>) dipped 7.8% to $47.49 following weak quarterly sales.</li>
<li>Perrigo Company plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRGO#NYSE">PRGO</a>) fell 6.3% to $31.32 following weak quarterly sales.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/05/38670858/dow-surges-over-50-points-disney-earnings-top-views">Dow Surges Over 50 Points; Disney Earnings Top Views</a>

ADTN

AGRI

AIRE

AORT

ATSG

AUDC

BAND

BLDR

BTBD

BYON

CMND

COKE

CROX

DDOG

EVER

FWRG

GLDD

GSUN

Hims & Hers Health, Inc. Class A Common Stock

HIMS

HSDT

JELD

JJSF

JMIA

LCID

MSGM

NUVO

NUWE

PLTN

PLTR

PRGO

REAX

SELF

SGRY

STIM

STRL

TALK

TWKS

Why Beyond Shares Are Trading Lower By Over 20%? Here Are Other Stocks Moving In Tuesday's Mid-Day Session

Comments

Ambac Financial Group

Popular Channels

Tools & Features

Partners & Contributors

About Benzinga