Communications and IT services firm $HRS reported higher 3Q16 results, helped by higher revenue from product sales and services. $HRS said net income rose 33.3% to $168MM, or $1.36 per share compared to $126MM, or $1.20 per share a year ago. Revenue rose 61% to $1.91Bil. Excluding items, $HRS earned $1.45 per share.
$TGT is currently operating in a challenging environment where many
retailers are closing stores, exiting markets and cutting costs. This
contraction will create opportunities for $TGT to pick up market share over the
long-term but aggressive promotional activity will create pressure on the
business in the near term.
$PRGO agreed to divest Tysabri royalty stream. Royalty Pharma will buy all of $PRGO's rights to receive Tysabri royalty payments from and after Jan. 1, 2017, which $PRGO has under agreement with $BIIB. Tysabri is FDA approved treatment for multiple sclerosis. $PRGO acquired Tysabri royalty stream rights through 2013 acquisition of Elan Corp. plc.
$PRGO agreed to divest Tysabri royalty stream for up to $2.85Bil. The consideration composed of $2.2Bil in cash at closing and up to $650MM in potential milestone payments based upon future global net sales of Tysabri in 2018 and 2020.