Energy holding company $SCG reported a rise in 2Q16 earnings driven by electric margins and customer growth as well as adoption of new depreciation rates for electric and common utility property. Net income rose to $105MM or $0.74 per share from $99MM or $0.69 per share last year. Operating revenue fell to $905MM from $967MM.
For 2017, $ENDP expects US Generics base business revenue decline to be similar to 2016 or in the low 30% range. Generics segment sales are expected to decline in the high-single to low-double digit range. In US Generics business, $ENDP estimates to realize approx. $75MM in annual net savings and launch at least 20 products in 2017.
$EQIX agreed for the purchase of ICT-Center AG, Zurich's data center operating business in Zurich, Switzerland for less than $5MM. The agreement was signed on Feb. 1, 2017 and the acquisition is expected to close sometime in early April 2017.