Rising generic-drug maker Lannett Co. (LCI) beat Wall Street’s fiscal Q4 expectations but guided 2016 sales shy of estimates after the close Tuesday. Lannett’s earnings totaled 91 cents a share in the quarter ended June 30, up 42% from the year-earlier quarter, with sales up 23% to $99 million. Analysts expected earnings of 86 cents a share on revenue of $97.6 million, according to Thomson Reuters. Lannett stock was up nearly 1% in after-hours
Hewlett-Packard disappointed investors late Thursday with a mixed report for its fiscal third quarter and earnings guidance below views. HP (HPQ) stock was down 1% after hours. During the regular session, HP shares dipped 1.4% to 27.35. The Palo Alto, Calif.-based company earned 88 cents a share ex-items for the quarter ended July 31. That’s down 1% from a year earlier but 3 cents above the 85 cents a share expected by Wall Street. Earnings based
Canadian specialty-drug giant Valeant Pharmaceuticals International agreed to pay $1 billion for Sprout Pharmaceuticals Thursday, two days after Sprout’s much-debated female aphrodisiac Addyi received FDA approval. The market seemed unimpressed by the move, as Valeant (VRX) stock fell 6.5% Thursday, to a six-week low of 229.06. A top-performing stock in recent years, Valeant shares touched a record high near 264 on Aug. 6. Valeant agreed to pay