Why CarMax, Teva Pharmaceuticals And Three Other Stocks Are in Spotlight on Tuesday

Impax Laboratories Inc (NASDAQ:IPXL)

Impax Laboratories Inc (NASDAQ:IPXL) and Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) are in the spotlight after Impax agreed to buy the rights to 15 generic drugs on the market, and several pipeline/approved not launched generic drugs from Teva and the soon-to-be-acquired Allergan generic division for $586 million. Teva is divesting the generic drugs to ensure that its merger with Allergan’s generic division goes through. Impax management estimates the deal will add around $50 million to 2016 EBITDA, expand gross margins by several hundred basis points, and increase adjusted EPS growth to at least 20% from 10%. A total of 20 funds tracked by us owned shares of Impax Laboratories Inc (NASDAQ:IPXL) at the end of March, while 70 funds owned shares of Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA).

Royal Bank of Scotland Continues Cost Cuts

Although latest polls show that Britain isn’t likely to leave the EU, Royal Bank of Scotland Group PLC (NYSE:RBS)’s management is nevertheless cutting costs. According to Reuters, the bank is planning to trim its UK workforce by 900 people, with the layoffs concentrated in the IT and back office segments that support the retail, commercial, and private banking. Royal Bank of Scotland Group is cutting costs to improve profitability. At the end of March, 10 funds in our database owned shares of Royal Bank of Scotland Group PLC (NYSE:RBS).

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