Boston, MA 05/19/2014 (wallstreetpr) – After reporting 1Q2014 results that exceeded Wall Street estimates, Strayer Education Inc (NASDAQ:STRA) looks forward to undertaking more cost reduction efforts to support financial savings and maximize shareholder value. The company intends to save $50 million in operating expenses every year. The post-secondary education provider earned $1.40 per share in 1Q against the consensus estimate of $1.29. Although the company exceeded Wall Street expectation for the quarter, its revenue dropped in 1Q mainly due to poor student enrollment in the quarter compared with a year earlier. While the recent results fell short of a year ago performance, Strayer Education Inc (NASDAQ:STRA) still deserves the benefit of a doubt now that the company has announced an ambitious cost-saving goal.
American Caresource Holdings, Inc. (NASDAQ:ANCI) said it took over all the key staff and providers of CorrectMed, an urgent and primary care provider in Atlanta, Georgia that it acquired last week. According to Dr. Richard W. Tuner, CEO of ANCI, acquisition of assets of CorrectMed added to ANCI’s portfolio two facilities in prominent locations. The management expects the expansion into the urgent care to support revenue growth and creation of value for the shareholders. Investors have recently shown confidence in the company with shared of American Caresource Holdings, Inc. (NASDAQ:ANCI) going up 39.09 percent in the whole of last week and have gone up 86.59 percent since the beginning of 2014.
The specialty pharmaceutical company Pernix Therapeutics Holdings Inc (NASDAQ:PTX) expects the deal it entered with GlaxoSmithKline plc (ADR) (NYSE:GSK) to acquire the U.S. rights for Treximet to close on August 1. The company also said it expects the transaction to double or more than double its revenue in 2014. The company agreed to pay $250 million for Treximet. Although the treatment is approved for migraine in adults, Pernix intends to extend its market exclusivity to for pediatric indications. That move will have the double impact of supporting higher revenue and extending the marketing exclusivity of the treatment. The move to expand the exclusivity of the treatment for pediatric would see Pernix Therapeutics Holdings Inc (NASDAQ:PTX) paying an additional consideration of about $17 million to GSK.
