This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Bank of America: After-Hours Trading

Stocks in this article: BAC SCLN AZO

NEW YORK ( TheStreet) -- Shares of Bank of America (BAC) rose in extended trades on Wednesday after the bank said it's secured additional time to negotiate in a dispute with a large bondholder group over about $47 billion in soured mortgage backed securities.

Charlotte, N.C.-based Bank of America was facing a deadline this week to respond to allegations raised by attorneys for the bondholders, which include Pacific Investment Management Co., BlackRock (BLK) and the New York Federal Reserve.

Additionally, the Wall Street Journal is reporting Bank of America is now in settlement talks with some of its largest mortgage investors, a move that it said would represent a "major shift in strategy for CEO Brian Moynihan, who has pledged to fight against having to repurchase any of the securities.



The stock was last quoted at $12.67, up 3.1%, on volume of 11.2 million, according to Nasdaq.com. Based on a regular session close at $12.29, the shares are down almost 18% year-to-date.

SciClone Pharmaceuticals

A big loser in late trades was SciClone Pharmaceuticals (SCLN), whose shares fell nearly 8% to $3.68 after the bell with around 20,000 shares changing hands.

Weighing on the stock was news that a phase 2b clinical trial of the company's proposed hepatitis B treatment, SCV-07, had missed its primary endpoint.

"Although the data showed an interesting biological signal, due to the rapidly changing landscape of effective treatments which increase the complexity and risks of developing drugs in chronic HCV, we have decided not to continue development in this indication," said Friedhelm Blobel, the company's CEO and president, in a statement.

The setback comes with SciClone's shares having gained 75% this year, and the company said it still plans to continue development of the drug for the prevention of oral mucositis in patients with head and neck cancer with a phase 2b study for this indication expected to begin early next year.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs