At long last, Ambac Financial Group’s (NYSE:AMBC) ongoing legal battle with Bank of America (NYSE:BAC) has come to a resolution. Apparently, Ambac had brought litigation against Bank of America due to issues related to the 2008 mortgage market crash. Finally, those lawsuits have been settled. Now, AMBC stock is flying higher as a result. Let’s start with the basics. Headquartered in New York, Ambac is a tiny insurer with a market capitalization of more than $640 million. Meanwhile, banking giant Bank of America acquired mortgage lender Countrywide Financial back in 2008.
Innovative Eyewear (NASDAQ:LUCY) stock is taking off on Friday despite a lack of news from the glasses company. What is worth noting is the incredibly heavy trading of LUCY stock without any news today. This has some 44 million shares of the stock on the move as of this writing. That’s a massive increase in trading volume compared to the company’s daily average of about 251,000 shares.
Yesterday afternoon, Advanced Micro Devices (NASDAQ:AMD) CEO Lisa Su gave investors some tough talk. They’ll have to brace for disappointing third-quarter 2022 results, it seems. Among other issues, Su cited anemic PC sales. It shouldn’t be too surprising, then, that AMD stock fell sharply this morning. Financial traders, by and large, already expected chipmakers like AMD to have a challenging Q3 — but perhaps not this challenging. Su’s warning really hit home as she observed, “The PC market weakened significantly in the quarter.”
