Endo Takes Large Impairment in 4Q; Outlook Remains Challenging in 2017
Endo reported fourth-quarter results within our expectations, capping off a tough year for the firm with significant pressure in the firm’s generics business and generic competition on Voltaren Gel. The company recognized a $3.5 billion noncash impairment charge in the fourth quarter stemming from the lackluster performance in the firm’s generics business. Meanwhile, management’s revenue guidance for 2017 came in below our forecast, but accounting for some divestitures and beneficial product mix...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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