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Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

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Diamonds and Dogs

5/10/13

Affymax Inc. (AFFY)

Affymax is continuing its decline, down 25.41% at $1.35. The biopharmaceutical company saw its shares fall after management announced it might be unable to continue operations. Affymax said it has experienced significant operating losses since inception. The recall of Omontys has severely harmed its business, financial condition, and prospects. As such, the company said it may be unable to continue operations and is looking at all available options. Affymax has seen a horrible decline in share price with shares falling over 93% since October.

Molycorp Inc. (MCP)

Molycorp is surprising its investors today, up 31.31% at $7.34. The rare earth metal company saw its shares explode after the company released better than expected earnings. For the quarter, Molycorp posted a loss of $47.2 million, or $0.33 per share. Revenues were up 9% at $146.4 million, analysts' were expecting the company's revenue to be significantly lower at $135.6 million. Molycorp management said it expects performance for the second half of the year to be much stronger than its first half. The company's shares are trading in the lower quartile of their 52-week range of $4.70-$26.10.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.