Big News: Teva Pharmaceutical Industries, J.C. Penney Company, Mattel, AbbVie Inc


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NYSE:TEVA / NYSE:JCP
04/17/2013 [ACCESSWIRE]

NEW YORK, April 17, 2013 - cheapstocks.us, one of the leaders in providing investment alerts on U.S. stocks are announcing Investment Highlights on Teva Pharmaceutical Industries, J.C. Penney Company, Mattel, AbbVie Inc.

Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) stock fell 0.03% to $38.64. The company s reducing manufacturing operations as part of a cost-cutting effort, though most of the savings under the plan will come
from lowering procurement expenses, Chief Executive Officer Jeremy Levin said on April 11.

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Teva has set a goal of lowering expenses by as much as $2 billion over five years to increase long-term profitability. The plan m ay lead to job losses in Israel, where Teva is the largest company by market value, Ronny Gal, an analyst at Sanford C. Bernstein & Co., said last month.

J.C. Penney Company, Inc.(NYSE:JCP) shares dropped 2.96% to $14.74.  The company has hired the financial advisory arm of Blackstone Group LP as it explores ways to bolster its balance sheet, a source familiar with the matter said on April 11. The ailing retailer is seeking to raise about $1 billion in cash, according to the Wall Street Journal, which reported the news earlier.

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Additionally, the company, on Mar. 27, said it had resumed a marketing strategy of raising prices and then discounting them on its own brands in a move to protect profit margins and win back the bargain-conscious
shoppers it lost last year.

Mattel, Inc. (NASDAQ:MAT) shares gained 4.09% to $44.74. The company on April 17, reported that its first-quarter profit surged nearly five times from last year, benefited by strong performance in its girls' brands.

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The company posted a first quarter net income of $38.5 million or $0.11 per share from last year's $7.8 million or $0.02 per share. Analysts expected earnings of $0.09 per share for the quarter. Quarterly net sales grew 7 percent to $995.6 million from prior year's $928.4 million, and beat consensus estimates of $985.79 million.

AbbVie Inc (NYSE:ABBV) shares fell 2.33% to $41.46. The company on April 16 said it will fire its sales force for heart drugs as the medicines lose patent protection and face generic competition, according to a person familiar with the matter.

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The company is shifting its focus from primary care, such as drugs that treat a patient’s cholesterol, stroke or diabetes, to so-called specialty medications in areas of unmet health needs, Chief Financial Officer
William Chase said in January.

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