$WFC 2Q15 Call: About position on jumbo mortgages, about 25% of our production are jumbos and that includes many of our most valuable customers in terms of the breadth of the total relationship. We carry them on our balance sheet. The total category right now for jumbos on our books is about $120-125Bil of the, call it $1.7Trillion overall.
Offshore drilling company $ESV reported 4Q16 net income of $39MM, or $0.13 per share, compared to net loss of $2.47Bil, or $10.64 per share during 4Q15. Revenues declined 39% YoY to $505MM, mainly due to decline in reported utilization to 51%.
$PRGO agreed to divest its rights to the royalty stream from the global net sales of the multiple sclerosis drug Tysabri (natalizumab) to RPI Finance Trust, an affiliate of Royalty Pharma. This transaction is valued at a total consideration of up to $2.85Bil. This transaction is expected to close within 30 business days.
Software and e-commerce services supplier $EBIX reported 12% increase in its 4Q16 earnings to $24.6MM, compared to $21.9MM during 4Q15. Diluted EPS rose 17% YoY to $0.76 from $0.65 in 4Q15. Revenues rose 14% YoY $80MM.
$ENDP, which divested its Belbuca business and restructured Pain franchise business in 4Q16, announced its plans to divest Litha Healthcare Group business for $100MM to Acino. The company has also identified Somar business as non-core and will be conducting due diligence on divesting Somar to focus on regulated markets in developed countries.
$VRX said it is looking for low single digit growth in GI business in 2017, before moving to high single digit growth in 2018 and beyond. Additionally, the diversified segment, which is projected to decline 7-10% in 2017 vs. 2016, is expected to still face above average declines in 2018.