First California Financial Group, Inc. (NASDAQ: FCAL) today reported net income rose to $2.2 million for the quarter ended March 31, 2008, or 19 cents per diluted share, compared with a first quarter 2007 net loss of $1.1 million, or 15 cents per diluted share. Year-ago results include costs related to the three-bank merger that created First California in March 2007.

NEW YORK (Reuters) - Ambac Financial Group Inc (ABK.N), a bond insurer that struggled to raise capital earlier this year, posted a surprisingly wide first-quarter loss on Wednesday after setting aside $1 billion to cover future payouts on mortgage bonds.

NEW YORK -- Ambac Financial Group Inc. posted another steep loss for the first quarter on Wednesday as turmoil in the bond market pummeled the value of many of the bond insurer's deals. Shares fell 21 percent in premarket trading.

TOKYO (Reuters) - Japan's Mizuho Financial Group Inc (8411.T) cut a third off its earnings estimate for the year just ended, stung by $5.5 billion in subprime-related losses, mostly at its brokerage arm.

NEW YORK -- Treasurys closed mixed Friday, after being buffeted by a complex mix of news developments, including heavy monthly job losses on the one hand and a generally successful stock sale by bond insurer Ambac Financial Group Inc. on the other.

NEW YORK (Reuters) - Bond insurer Ambac Financial Group Inc (ABK.N) said on Friday it sold $1.5 billion of shares and convertibles, protecting the company from ratings cuts but not satisfying some analysts who wanted the company to raise more.

NEW YORK (Reuters) - Bond insurer Ambac Financial Group Inc (ABK.N) sold $1.5 billion of shares and convertibles on Thursday, a market source said, protecting the company from ratings cuts but not satisfying some analysts who wanted the company to raise more.

The plan by the ailing bond insurer to save its credit rating falls short of Wall Street expectations. Troubled bond insurer Ambac Financial Group Inc. said Wednesday that it would raise $1.5 billion in capital by selling shares in an effort to preserve its all-important credit rating, but the plan disappointed Wall Street and its stock price tumbled.

NEW YORK -- Ambac Financial Group Inc.'s plan to try to sell $1.5 billion in stock in a bid to safeguard its critical "AAA" financial-strength rating has also avoided the specter of splitting the company to raise the capital.

NEW YORK -- Wall Street managed a moderate gain in an erratic session Wednesday as investors sorted through a downbeat Federal Reserve assessment of the economy and were also disappointed by a plan to bail out troubled bond insurer Ambac Financial Group Inc.