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Market Update

Endo Sells Urology Unit to Boston Scientific, HP to Buy Aruba


Author: Mukesh Buch
ticker.com
Last Update: 12:44 PM ET March 02 2015

12:35 PM New York – Ambac Financial net surged but revenues declined 60%. Boston Scientific agreed to acquire AMS urology business from Endo Intl for $1.6 billion. Endo Intl net loss narrowed after revenues soared 37%. EV Energy net swung to profit. Sothebys net plummeted 18%.

Tollbooth Index nearly jumped 0.5% or 48.89 to 10,729.41.

Earnings Review

Ambac Financial Group, Inc (AMBC) climbed 4% or $1 to $25.89 after the financial service provider said net revenues in the fourth-quarter ending in December plunged 59.8% to $34 million a year ago period.

Net income in the quarter surged 561.2% to $453.6 million or $9.73 per diluted share compared to $68.6 million or $1.49 from the same quarter last year.

Boston Scientific Corporation (BSX) rose 4 cents to $16.94 after the medical device maker agreed to acquire American Medical Systems urology business from Ireland-based Endo International Plc for about $1.6 billion.

The transaction is expected to close in the third-quarter of this year.

Endo International Plc (ENDP) gained 2% or $1.79 to $87.39 after the healthcare company reported total revenues in the fourth-quarter ending in December soared 37% to $799.9 million from a year ago period.

Net loss in the quarter narrowed to $53.5 million or 35 cents per diluted share compared to $775.9 million or $6.74 from the same quarter last year.

EV Energy Partners, L.P (EVEP) slipped 1.3% or 20 cents to $14.96 after the oil and gas explorer stated total revenues in the fourth-quarter ending in December dropped 10.7% to $70.2 million form a year ago period.

Net in the quarter swung to profit $102.4 million or $2.03 per diluted share compared to a loss of $50.2 million or $1.06 from the same quarter last year.

Howard Hughes Corp (HHC) rose 20 cents to $149.99 after the real estate developer said total revenues in the fourth-quarter ending in December climbed 54.5% to $207.1 million from a year ago period.

Net income in the quarter jumped 71.5% to $31.9 million or $1.18 per diluted share compared to $18.6 million or 44 cents from the same quarter last year.

Hewlett-Packard Company (HPQ) and the tech company agreed to acquire wireless-networking company Aruba Networks Inc. for $24.67 a share or for about $2.7 billion.

Intercept Pharmaceuticals Inc (ICPT) fell $1.52 to $219.85 after the biopharmaceutical company reported revenues in the fourth-quarter ending in December jumped 9.9% to $445 million from a year ago period.

Net loss in the quarter widened to $34.8 million or $1.63 per diluted share compared to $12.4 million or 64 cents from the same quarter last year.

Sotheby’s (BID) declined 4.4% or $1.95 to $42 after the auction service provider reported total revenues in the fourth-quarter ending in December jumped 4.5% to $351.2 million form a year ago period.

Net income in the quarter plummeted 18.5% to $74 million or $1.06 per diluted share compared to $90.8 million or $1.30 from the same quarter last year.

VimpelCom Ltd (VIP) dropped 2.5% or 14 cents to $5.34 after the Russia-focused wireless telecom company agreed to sell 90% stake in its subsidiary WIND Telecomunicazioni S.p.A''s Galata unit for €693 million in cash to Abertis Telecom Terrestre SAU.

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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc