During Tuesday’s trade, Shares of FreeSeas Inc. (NASDAQ:FREE), gained 8.06% to $0.0335.
FreeSeas Inc. (FREE) hit a 52-week low of .02 and has seen considerable consolidation over the last few weeks. The stock has been battling against resistance and has in recent trading started to show signs of an uptrend. Since November 23rd FREE has added 55% to its historical low whilst simultaneously setting new records for daily volatility. Volume levels have remained consistent at 5.9 million shares over a 30-day average, however, FREE has seen volume breakouts as high as 696% in recent trading. Investors, over the short term at least, can take confidence from the undervalued setup of the company which is presently trading with a 14-day RSI of 31. Over the next few years global trade is positioned for a further decline, dampening the growth prospects for the industry, which could negatively impact the company.
FreeSeas Inc., through its auxiliaries, provides drybulk shipping services. Its vessels carry various drybulk commodities, such as iron ore, grain, and coal, in addition to bauxite, phosphate, fertilizers, steel products, cement, sugar, and rice.
Shares of Old Republic International Corporation (NYSE:ORI), declined -0.16% to $18.93, during its current trading session.
Old Republic International Corporation, declared a quarterly cash dividend on the common stock of 18.50 cents per share. This dividend is payable December 15, 2015, to shareholders of record on December 4, 2015. Subject to Board approval of each quarter’s new rate, the full year’s cash dividend will amount to 74 cents per share contrast to 73 cents paid in 2014.
This latest dividend improvement marks the 34th successive year that Old Republic has boosted its cash dividend rate, and 2015 becomes the 74th year of uninterrupted cash dividend payments.
Old Republic International Corporation, through its auxiliaries, engages in the insurance underwriting and related services business primarily in the United States and Canada. The company’s General Insurance Group segment offers automobile extended warranty, aviation, commercial automobile, commercial multi-peril, general liability, home warranty, inland marine, travel accident, and workers’ compensation insurance products; and financial indemnity products for specialty coverages, counting errors and omissions, directors and officers, fidelity, guaranteed asset protection, and surety.
Finally, Lannett Company, Inc. (NYSE:LCI), gained 1.87%, and is now trading at $37.65.
Lannett Company, declared that it has accomplished the acquisition of Kremers Urban Pharmaceuticals Inc. (KU), the U.S. specialty generic pharmaceuticals partner of global biopharmaceuticals company UCB S.A. (UCB.BR).
Lannett has attained KU from UCB for total consideration of about US$1.23 billion, subject to certain adjustments, counting a customary working capital adjustment, a deduction of certain reimbursable amounts payable in connection with the financing of the transaction, and a reduction for any indebtedness and unpaid transaction expenses of KU existing at closing. In connection with the transaction, Lannett issued to UCB US$200 million senior unsecured notes together with 2.5 million warrants, which may be net settled. UCB will also be eligible to receive contingent payments for Methylphenidate HCI ER when the product’s AB rating is restored.
“We are happy to complete this transformational transaction that further establishes Lannett as a premier specialty pharmaceutical company,” said Arthur Bedrosian, chief executive officer of Lannett. “KU is a highly profitable business that extends our size, scale and reach. With the acquisition, we have expanded and plannedally diversified our product portfolio and pipeline, and added complementary research and development expertise. I thank the leadership teams and employees of both organizations for their ongoing dedication and look forward to the opportunities ahead for our combined company.”
Lannett anticipates to provide updated fiscal 2016 full-year guidance for the combined company in mid-December.
Lannett Company, Inc. develops, manufactures, packages, markets, and distributes generic versions of branded pharmaceutical products in the United States. It offers solid oral, extended release, topical, nasal, and oral solution finished dosage forms of drugs that address a range of therapeutic areas, in addition to ophthalmic, patch, foam, buccal, sublingual, soft gel, and injectable dosages.