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Affymax, Inc. (AFFY) Message Board

highlowsel 796 posts  |  Last Activity: 8 hours ago Member since: Feb 26, 1998
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  • Reply to

    BAC beats on both Rev and EPS

    by onehappybovine Jul 16, 2014 7:16 AM
    highlowsel highlowsel Jul 16, 2014 7:30 AM Flag

    07:27 AM EDT, 07/16/2014 (MT Newswires) -- Bank of America (BAC) reported Q2 profit and revenue that fell from a year earlier due to litigation expenses, but earnings topped estimates and revenue on a non-GAAP basis was in line.

    Net income was $2.3 billion, or $0.19 per diluted share, down from $4.0 billion, or $0.32 per diluted share, in the year-ago period, but above the $0.07 expected by analysts polled on Capital IQ.Revenue, net of interest expense, declined 4 percent from the second quarter of 2013 to $22.0 billion. Analysts were looking for $21.7 billion. The results include a pre-tax charge from litigation of $0.22 a share. On a GAAP basis revenue was $21.7 billion compared with $22.7 billion a year ago.

    "The economy continues to strengthen, and our customers and clients are doing more business with us," said Chief Executive Officer Brian Moynihan. "Among other positive indicators, consumers are spending more, brokerage assets are up by double digits and our corporate clients are increasingly turning to us to help finance business expansion and merger activity. We are well positioned for further progress."

    Bank of America on July 15 reached a settlement with AIG (AIG) resolving all outstanding litigation related to mortgage backed securities. The AIG settlement amount of $650 million was covered by litigation reserves as of June 30, 2014. Bank of America has now resolved approximately 95 percent of the unpaid principal balance of all RMBS litigation, it said.

    The shares are edging lower in pre-market trading, down 0.4% at $15.75.
    Price: 15.75, Change: -0.06, Percent Change: -0.38

  • highlowsel by highlowsel Jul 16, 2014 7:13 AM Flag

    News out a bit after 7am (East Coast Time).

    American International Group (AIG) said it will receive $650 million in cash under the terms of a settlement with Bank of America related to residential mortgage related disputes.

    The resolution includes claims pending in New York and California federal courts related to the creation, offering, and sale of RMBS from which AIG and its subsidiaries suffered losses either directly on their own account or in connection with their participation in AIG's securities lending program.

    It also covers the insurer's objections to the $8.5 billion settlement of Countrywide's mortgage repurchase obligations to various investors, as well as disputes concerning the issuance of mortgage guaranty insurance by AIG's United Guaranty subsidiaries to Bank of America and Countrywide.

    AIG said it will also receive its "pro rata share of whatever amount is ultimately paid out to investors in connection with the Countrywide repurchase settlement."

    Etc., etc.

  • Reply to

    We Smoke...

    by bodjango2003 Jul 14, 2014 5:45 PM
    highlowsel highlowsel Jul 15, 2014 2:53 PM Flag

    Don't know from $35 but $32 to $34 in 4 sessions ain't bad. Ain't bad at all. ;-)

  • highlowsel by highlowsel Jul 15, 2014 12:02 PM Flag

    Master yanking Poochie back close (er) to side. Definitely trying to close the opening gap. And if I know Master I wouldn't be against the probability of this being done. Meanwhile the pontifications, and Yellen's answering smoke, continue to make Masters job easier....

  • Reply to

    bac report tomo .. the pressure cooker is on

    by rbrthng Jul 15, 2014 8:27 AM
    highlowsel highlowsel Jul 15, 2014 11:49 AM Flag

    The media give Yellen and her ilk far too much press-time for the value gained...just makin' it easy for Master to close the opening gap....

  • Reply to

    Mnkd being taken down on Yellen's comments.

    by factspls88 Jul 15, 2014 10:47 AM
    highlowsel highlowsel Jul 15, 2014 10:54 AM Flag

    If you're short it's having the desired effect. Bid $9#$%$ been all selling pretty much from when she started opening her mouth.

  • highlowsel highlowsel Jul 15, 2014 10:44 AM Flag

    And in the last ~25minutes the sell side went on a ~250K volume attack. Bid now $9.81. Back to the low-end of last Thursday/Friday's range. I guess this is about what we'll see...this sort of "back-n-forth" until management comes out with their partnership plan. And the longer they go without closing that issue the more I expect to see things get volatile......bid $9.80 and being driven southward...

  • highlowsel highlowsel Jul 15, 2014 10:21 AM Flag

    Yup. There's a distinct $10 line in the sand.

  • Reply to

    bac report tomo .. the pressure cooker is on

    by rbrthng Jul 15, 2014 8:27 AM
    highlowsel highlowsel Jul 15, 2014 10:17 AM Flag

    Nervous? You're kidding me, right? After all the endless FUD-news and such I'd say as a group long sided holders in this equity are pretty much enured to dam near anything.....scary earnings prospects not the least of it..... ;-)

  • Reply to

    I hate this board

    by marinvalue Jul 14, 2014 8:18 PM
    highlowsel highlowsel Jul 15, 2014 10:10 AM Flag

    Marin: I empathize. I bifurcated this board long ago. Anyone who post OT political stuff pffffft...automatically to ignore. Do that for a time and you'll find the board dwindles down to those commenting on topic. You'll see a lot of "ID ignored...." with a sprinkling of legitimate postings.

    The interesting thing you'll find in doing this is once you've started ignoring the fringe on this thread you'll find any number of other threads you track similarly impacted by your ignore function. I've decide what you've got going on with Yahoo's threads, probably because they're free, is two warring tribes of trolls (and such). They have no ability to control themselves when it comes to their items of OT-interest...and slam and war against each other all over Yahoo indiscriminately....it ain't just confined to BAC. But as I said, this is the price you endure for free posting. It is what it is; and I can live with it so long as the ignore function works.

    Highlow
    American Net'Zen

  • Reply to

    It's a fight for $10

    by d_griswold_2000 Jul 11, 2014 3:33 PM
    highlowsel highlowsel Jul 11, 2014 3:44 PM Flag

    Bid now $10.09. Looks like nobody short wants to hold over the week-end? ;-)

    The volume on those July 19 $10/11 Calls is running hot, too. Hmmmm..

  • Reply to

    Is Master guilty of animal abuse

    by hucktwain Jul 11, 2014 9:54 AM
    highlowsel highlowsel Jul 11, 2014 12:33 PM Flag

    Quick sumbody call the ASPCA! QUICK! ;-) Bid $15.36.

  • Reply to

    Poochie again yanked at start

    by highlowsel Jul 11, 2014 9:33 AM
    highlowsel highlowsel Jul 11, 2014 10:56 AM Flag

    FUD = Fear Uncertainty (and) Doubt. ;-)

  • Reply to

    Poochie again yanked at start

    by highlowsel Jul 11, 2014 9:33 AM
    highlowsel highlowsel Jul 11, 2014 9:56 AM Flag

    Speaking of sell side tactical....watch the intraday now....the bid will show strong....the ask absorbs a flurry of action seeming to signal it's about to fade. And what happens? The bid fades instead. CLASSIC sell side activity.....the Algo's/HFT's/etc. are nothing if not "clever." You'll know the tactic is changing when you see the ask actually fade......

  • Reply to

    Poochie again yanked at start

    by highlowsel Jul 11, 2014 9:33 AM
    highlowsel highlowsel Jul 11, 2014 9:53 AM Flag

    Huck: C will be interesting on Monday indeed. But regardless I don't think it matters. Nothing matters regarding upside in this equity until they can put at least one no-FUD quarter between them and the current times. The FUD dominates, and keeps any upside cap, which allows for what keeps being seen from session to session, a frolick of sell side tactics. It is what it is. I play my trades accordingly.....because if nothing else the volume of the churn allows for it....I'm looking for a sub $15.30 entry....and since the usual sell side tactical game is being played I expect to get my fill......but saying so is one thing...let's see how the session actually plays out. Bid $15.31

    Highlow
    American Net'Zen

  • Bid $15.37. I think every day this week has started with Master yanking Poochie to heel. Let's see if Master wants to test the sub-$15.30 zone again....

  • highlowsel highlowsel Jul 10, 2014 3:24 PM Flag

    Really: "Day traders beware and go somewhere else..."

    No offense but....BWAHAHAHAHAHAHAHAHA! You must be kidding, right? This equity is the darling of the HFT/Algo set. It's a freakin' "churn it for pennies" ATM for them....and has been for many a year now....and will remain one so long as the sizable FUD remains as is....

  • Reply to

    where do we close today thoughts???

    by elockwoo Jul 10, 2014 2:42 PM
    highlowsel highlowsel Jul 10, 2014 3:21 PM Flag

    I dunno....if we're lucky Master will let Poochie end the day at $15.40 or a bit better. But my WAG is Master will yank Poochie back south of .40 into close...

  • highlowsel highlowsel Jul 10, 2014 10:24 AM Flag

    Tigger: "I wonder what it means?" I presume this is a rhetorical question? ;-) The Finny's as a group just ain't getting the luvin' like last year. First you're a darling; then you're not. All just part of the ebb and flow of market sentiment. In this case it's just a wee bit accentuated by sector player stupidity that has reverberated since ~2008. It'll change...with time....just got to deal with it as it is. ;-)

    Bid now $15.43.

  • Reply to

    Shame on the Gov't

    by galaxysportsinc Jul 10, 2014 9:43 AM
    highlowsel highlowsel Jul 10, 2014 10:21 AM Flag

    Shame on Business for the way they treated the taxpayer back in 2008. Or have you forgotten already? Bottom line? If business hadn't opened the door on all of this back then you wouldn't be wailing about gubernment involvement now. It is what it is. Deal with it.

AFFY
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