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Doral Financial Corporation Message Board

cavalier2015 389 posts  |  Last Activity: Oct 24, 2014 9:47 PM Member since: Nov 5, 2012
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  • Reply to

    Why the selling

    by johnangstrom Sep 24, 2014 11:05 AM
    cavalier2015 cavalier2015 Sep 24, 2014 9:44 PM Flag

    IMO because many(myself included) expected a more definitive outcome at end of trial...the pps sold off rapidly from 8.90 to under 8.00 as soon as the trial ended. Doral's counsel has not really said much after trial ended that was very confidence inspiring imo. Also, no one seems to really know when the judge will issue her ruling..the market does not like a vacuum..I sold at average pps of about 8.10, cost of 6.40..still feel Doral will prevail per trial but felt inconclusive trial outcome and pps drop were reasons to sell.. glta.

  • cavalier2015 cavalier2015 Sep 23, 2014 8:06 PM Flag

    Agree that it is good that contract behind them and also with strategy of working with unions as much possible/reasonable...

  • cavalier2015 cavalier2015 Sep 23, 2014 6:03 PM Flag

    Agree fuel savings will not help 3q much. Flight attendants contract pushed forward to 2015 will negatively impact eps most likey but should be offset by fuel savings/merger savings. All these items are just short term headwinds imo, call me paranoid but my real concerns are terrorism even if not an airline attack , continued softness in global economy and/or general stock market weakness. AAL/airlines are at recent lows with the market still near all time highs...augh

  • cavalier2015 cavalier2015 Sep 23, 2014 5:37 AM Flag

    Believe was without split, some bulkers have gone UP after filing for BK...like I said, crazy stuff. Think there was some good Handysize news from another shipper yesterday, doesnt take much to launch shares upward, a lot of fast money...

  • cavalier2015 cavalier2015 Sep 22, 2014 5:07 PM Flag

    I say will go up or down, maybe both..lol added 200k shares avg price of .25 so sure hope goes up. bought on theory that can go up a lot for no really good reason...heck if I recall newl went up from 3c to 4$ ....crazy stuff..also believe may actually have higher market cap than currently trading at but that's just a guess.

  • cavalier2015 cavalier2015 Sep 20, 2014 10:02 AM Flag

    I do...!

  • Reply to

    Sound Familiar

    by cavalier2015 Sep 20, 2014 5:46 AM
    cavalier2015 cavalier2015 Sep 20, 2014 9:26 AM Flag

    Agree, like many I was expecting bdi to climb in September like last year..offshore weakness just a big negative per drys investment thesis primarily a play on orig..double whammy negatives and with the market a bit shaky overall just have to hope for a couple positive developments.

  • Reply to

    Press Release

    by cavalier2015 Sep 19, 2014 8:21 PM
    cavalier2015 cavalier2015 Sep 20, 2014 8:27 AM Flag

    Appears trial will continue on Monday...

  • cavalier2015 by cavalier2015 Sep 20, 2014 8:18 AM Flag

    If have around 13m in remaining debt and 4? ships remaining what is estimated liquidation value? now have a bunch of convert preferred shares

  • Reply to

    Appeal likely...

    by cavalier2015 Sep 19, 2014 4:28 PM
    cavalier2015 cavalier2015 Sep 20, 2014 5:53 AM Flag

    Agree, I made some money on doral a couple years ago so was very familiar with company and should have pulled the trigger when pps at 2-3$ in May..much riskier bet at these levels.

  • cavalier2015 by cavalier2015 Sep 20, 2014 5:46 AM Flag

    No, It’s Still Not Time to Buy Offshore Drillers
    .

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    By Ben Levisohn

    Despite the recent pain for offshore drilliers like Diamond Offshore Drilling (DO), Noble (NE), Transocean (RIG) and Vantage Drilling (VTG), RBC Capital Markets’ Robert Pinkard and team don’t think it’s time to buy their stocks. They explain why:

    Associated Press

    Given the number of uncontracted newbuild deliveries, rigs rolling off contracts, and operator sublets, 2015 is shaping up to be an even more challenging market than 2014 for floating rigs. We expect the market to be characterized by intense competition, falling dayrates, and rig retirements. This should lead to steady declines in earnings on average for the group through ’16…

    Under current market conditions, it would be premature to say that all dividends are 100% guaranteed. However, each company’s outlook is different. We think dividends for Transocean and Diamond Offshore are at the most risk of being cut given the cash flow and leverage outlooks for the companies headed into 2015/2016…

    Nearly every company will still need to take on debt in 2015 to fund capex/dividends. Offshore drilling leverage has historically not exceeded the 35-40% level for very long. In our base case, all the companies are able to pay dividends and fund capex without stretching net debt/cap above the 35% threshold. We forecast that Noble is the only company that will not need to raise $ next year to meet financial commitments. Transocean is the only company with an MLP that we estimate could be used for ~$500mn-1bn in cash raises annually going forward. Asset sales are a possible source of funding for all companies, but we view Transocean as the most likely candidate to divest a meaningful number of rigs in 2015.

    Overcapacity in shippers and drillers killin us....hope orig will be able to contract the new rigs coming next year and at decent rates. .

  • cavalier2015 by cavalier2015 Sep 19, 2014 8:21 PM Flag

    Doral Financial Corporation: Two Days of Trial and Hacienda Has Put Forth No Evidence

    Company Release - 09/19/2014 19:53

    SAN JUAN, Puerto Rico, Sept. 19, 2014 /PRNewswire-USNewswire/ -- Following today's trial in the Doral Financial Corporation v. Hacienda court case, Doral Legal Counsel Matthew D. McGill issued the following statement:

    "For four months, Doral has been waiting for Hacienda to explain its attempt to nullify its $230 million debt to Doral. Hacienda claimed that Doral obtained its 2012 tax agreement through a fraud, but after two days of trial, including testimony from Secretary Melba Acosta Febo herself, Hacienda has come forward with no evidence supporting that outrageous accusation. When this case is over, the people of Puerto Rico will have to ask whether they were well served by their government's unfounded attack on one of Puerto Rico's few remaining banks."

  • cavalier2015 by cavalier2015 Sep 19, 2014 4:28 PM Flag

    Superior Court Judge Laureana Perez Perez began hearing testimony yesterday in the bank’s lawsuit against the Puerto Rico Department of Treasury after settlement talks collapsed last month. Doral’s claim relates to a restatement of earnings from 1998 to 2004. The lender is trying to recover some taxes paid on overstated financials.

    The judge told lawyers gathered for the brief nonjury trial that whatever her decision, an appeal is likely.

    Seems kinda odd she would make that statement...pretty much sayin her decision/ruling is kinda BS ?

  • Reply to

    On Doral Website

    by cavalier2015 Sep 18, 2014 7:49 PM
    cavalier2015 cavalier2015 Sep 19, 2014 5:56 AM Flag

    Agree...

  • Reply to

    Judge Dem or Repub ?

    by cavalier2015 Sep 18, 2014 6:28 PM
    cavalier2015 cavalier2015 Sep 19, 2014 5:55 AM Flag

    Good, thanks

  • Reply to

    Looks like drys run is over

    by uncle.bubs Sep 17, 2014 6:51 PM
    cavalier2015 cavalier2015 Sep 18, 2014 10:12 PM Flag

    Shipping rates are weak and offshore drilling outlook poor...those are the facts unfortunately...

  • Reply to

    On Doral Website

    by cavalier2015 Sep 18, 2014 7:49 PM
    cavalier2015 cavalier2015 Sep 18, 2014 9:18 PM Flag

    Levis commented that would know trial results in couple weeks, I was under impression would be decided within days...

  • Reply to

    On Doral Website

    by cavalier2015 Sep 18, 2014 7:49 PM
    cavalier2015 cavalier2015 Sep 18, 2014 9:09 PM Flag

    Got it...

  • Reply to

    On Doral Website

    by cavalier2015 Sep 18, 2014 7:49 PM
    cavalier2015 cavalier2015 Sep 18, 2014 9:05 PM Flag

    How get in English?

  • cavalier2015 by cavalier2015 Sep 18, 2014 7:49 PM Flag

    Doral Financial Corporation and Government of Puerto Rico Meet for Trial to Settle Tax Refund Due to Doral

    Chief Counsel Matthew D. McGill: Hacienda’s star witness is “irrelevant”

    SAN JUAN— Following today’s trial in the Doral Financial Corporation v. Hacienda court case, Doral Legal Counsel Matthew D. McGill issued the following statement:

    “To begin their case today, the government called as their star witness a former employee of Doral who the court has ruled has nothing relevant to say about the tax agreement that Hacienda is trying to repudiate. Hacienda’s presentation of an irrelevant witness confirms what Doral has been saying–that there is no evidence to support Hacienda’s attempted nullification of its agreement with Doral.”

DRL
5.64-0.21(-3.59%)1:49 PMEDT

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