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News Breaks | | | | February 26, 2013 | | 11:02 EDT |  | CEDC, EXPD, MELI, IPXL, EWI | High option volume stocks: EXPD EWI MELI CEDC IPXL
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News For EXPD;EWI;MELI;CEDC;IPXL From The Last 14 Days Check below for free stories on EXPD;EWI;MELI;CEDC;IPXL the last two weeks. |
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| June 19, 2013 | | 06:47 EDT |  | MELI | MercadoLibre pricetarget raised to $151 from $123 at Piper Jaffray
 Subscribe for More Information | | | June 7, 2013 | | 10:11 EDT |  | MELI | On The Fly: Analyst Downgrade Summary
Subscribe for More Information | | | 06:10 EDT | | MELI | MercadoLibre downgraded to Neutral from Overweight at JPMorgan
JPMorgan downgraded MercadoLibre with a $120 price target citing valuation. | | | June 5, 2013 | | 09:13 EDT |  | IPXL | Impax announces workforce reduction, to take $2.4M related charge in Q2
Impax Laboratories announced a reduction in its workforce as a part of the company’s efforts to streamline its operations in response to the need to reduce expenses and adapt to changing market conditions. The reduction primarily affected manufacturing operations and is intended to reduce Impax’s cost structure and scale the organization appropriately for its current needs. The action resulted in a reduction of approximately 110 positions, with the majority at the Hayward, California manufacturing facility. The reductions became necessary as a result of lower production volumes at the Hayward facility due to the transfer of products to the company’s more cost efficient Taiwan plant, previously announced product discontinuances and delayed product launches. The company expects the reduction in both personnel and other variable expenses, including the product discontinuances, to yield an annual cost savings of approximately $15.0M. The company expects the total savings within cost of goods sold in 2013 from these actions to be approximately $10.0M. The company will also reduce its contracted brand sales force from 84 to 64 positions, as well as four regional sales management positions. This short-term action is due to the delay in approval for RYTARYTM and is expected to result in a reduction of the Company’s selling expenses of approximately $2.0M in 2013. The company said it remains committed to receiving RYTARY approval and expects to expand its sales force to the appropriate level following regulatory approval of RYTARY. The company expects the reduction in workforce to result in a charge of approximately $2.4M in Q2. The expected savings in cost of goods sold and selling expenses in 2013 have no impact on the Company’s 2013 financial guidance for gross margin as a percentage of revenues and SG&A expenses that was updated on May 1, Impax said. | | | 09:11 EDT | | IPXL | Impax announces workforce reduction
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