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Stock Market & Financial Investment News

News Breaks
February 8, 2013
07:48 EDTLCILannett price target raised to $9 from $6 at Oppenheimer
Oppenheimer increased its price target on Lannett after the company reported higher than expected Q2 EPS. The firm notes that the company may be first-to-file for approval of thalidomide, now believed to represent a generic opportunity of 200M, and it maintains an Outperform rating on the shares.
News For LCI From The Last 14 Days
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February 11, 2016
07:15 EDTLCILannett receives FDA approval for Temozolomide Capsules
Lannett (LCI) announced that its wholly owned subsidiary, Kremers Urban Pharmaceuticals, or KU, has received approval from the FDA of its Abbreviated New Drug Application, or ANDA, for Temozolomide Capsules 5 mg, 20 mg, 100 mg, 140 mg, 180 mg and 250 mg, the therapeutic equivalent to the reference listed drug Temodar Capsules of Merck (MRK). According to IMS, total U.S. sales in 2015 of Temozolomide Capsules 5 mg, 20 mg, 100 mg, 140 mg, 180 mg and 250 mg at Average Wholesale Price were approximately $206M.
February 4, 2016
10:00 EDTLCIOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ADTRAN (ADTN) upgraded to Market Perform from Underperform at Cowen... Alpha & Omega (AOSL) upgraded to Outperform from Market Perform at Northland... Ambarella (AMBA) upgraded to Buy from Neutral at Dougherty... ArcBest (ARCB) upgraded on valuation at Stifel... Arlington Asset Investment (AI) upgraded to Buy from Neutral at Ladenburg... Atwood Oceanics (ATW) upgraded to Accumulate from Hold at KLR Group... Buffalo Wild Wings (BWLD) upgraded to Outperform from Market Perform at Raymond James... C.H. Robinson (CHRW) upgraded to Outperform from Market Perform at Raymond James... CDK Global (CDK) upgraded to Outperform from Market Perform at Barrington... Cadence Design (CDNS) upgraded on valuation, guidance at DA Davidson... China Unicom (CHU) upgraded to Buy from Hold at HSBC... Cloud Peak (CLD) upgraded to Market Perform from Underperform at FBR Capital... Cree (CREE) upgraded to Outperform from Market Perform at Northland... CrossAmerica (CAPL) upgraded to Outperform from Neutral at Baird... Hub Group (HUBG) upgraded on results at Stifel... Kennametal (KMT) upgraded to Neutral from Underperform at Longbow... Lannett (LCI) upgraded to Buy from Hold at Craig-Hallum... Lowe's (LOW) upgraded to Conviction Buy from Buy at Goldman... Mattel (MAT) upgraded to Buy from Sell at Argus... New Oriental Education (EDU) upgraded to Buy from Neutral at Mizuho... Olin Corp. (OLN) upgraded to Buy from Neutral at Monness Crespi... RONA (RONAF) upgraded to Equal Weight from Underweight at Barclays... Red Hat (RHT) upgraded to Outperform from Market Perform at Cowen... Wayfair (W) upgraded to Buy from Neutral at Goldman... Whirlpool (WHR) upgraded to Buy from Neutral at Goldman... Yahoo (YHOO) upgraded to Buy from Neutral at Citi... Zumiez (ZUMZ) upgraded to Buy from Hold at Brean Capital... adidas (ADDYY) upgraded to Buy from Neutral at Goldman.
07:56 EDTLCILannett price target lowered to $28 from $46 at Canaccord
Canaccord lowered its price target on Lannett to $28 from $46 following Q2 results. The firm is lowering its estimates to reflect company guidance. Canaccord maintained its Buy rating on Lannett shares.
07:51 EDTLCILannett upgraded to Buy from Hold at Craig-Hallum
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February 3, 2016
16:27 EDTLCILannett sees FY16 revenue $585M-$595M, consensus $591.26M
16:27 EDTLCILannett reports Q2 EPS 95c, consensus 94c
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February 1, 2016
16:21 EDTLCILannett announces cost savings actions, to reduce workforce by 20% over 3 years
Lannett announced a number of restructuring actions to streamline operations, improve efficiencies and significantly reduce costs. The initiatives are part of the company's efforts to integrate the recently completed acquisition of Kremers Urban Pharmaceuticals, or KU. Actions have already begun and include the closing of KU's corporate offices in Princeton, New Jersey, an immediate workforce reduction of approximately 10% and a total staff reduction of approximately 20% over the next three years. The Plan is expected to result in approximately $40M of cost reductions during the 12 months following the close of the acquisition, including $27M in FY16, and is currently estimated to generate annualized synergies of approximately $50M by the end of FY18 and achieve an ultimate run rate of approximately $65M by the end of FY20. The company currently estimates that it will incur aggregate costs to implement the Plan of approximately $20M to $22M. The costs associated with the Plan, the majority of which are expected to be incurred between fiscal years 2016 and 2018, will primarily consist of a reduction in headcount through reorganization and integration, including severance and termination benefits for employees, expected to be approximately $11M to $13M, other costs primarily relating to the rationalization, consolidation and relocation of certain portions of our research and product development, manufacturing and distribution centers, as well as other facilities, expected to be approximately $8M and contract termination costs expected to be approximately $1M.

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