Endo reports 1st-quarter loss, trims full-year guidance + MORE May 6th

DUBLIN – Shares of Endo International PLC plunged in extended trading Thursday after the drugmaker slashed its full-year outlook because of increasing competition and regulatory delays.
Endo now expects full-year earnings of $4.50 to $4.80 per share, with revenue of $3.87 billion to $4.03 billion. Previously the company expected to earn $5.85 to $6.20 per share on revenue between $4.32 billion and $4.52 billion.
Analysts surveyed by FactSet expect earnings per share of $5.68 on revenue of $4.3 billion, on average.
Endo, which makes both branded and generic drugs as well as over-the-counter medications, said it will shut a facility in Charlotte, North Carolina, and reduce its workforce in Huntsville, Alabama, as part of the restructuring of its generics manufacturing business. The company did not provide more specifics but said the moves are expected to lead to savings of about $60 million in 2017.
For the first three months of the year, the Dublin-based company reported a loss of $133…

CALGARY – CALGARY, Alberta (AP) _ Vermilion Energy Inc. (VET) on Friday reported a first-quarter loss of $62.6 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Calgary, Alberta-based company said it had a loss of 56 cents. Losses, adjusted for asset impairment costs, came to 50 cents per share.
The oil and natural gas explorer posted revenue of $129.3 million in the period.
Vermilion shares have increased 22 per cent since the beginning of the year. The stock has decreased 29 per cent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VET at http://www.zacks.com/ap/VET
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Keywords: Vermilion Energy, Earnings Report
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Learn, save, invest and prosper with My Own Advisor.
Welcome to another Weekend Reading edition, where I share some of my favourite personal finance and investing articles from the week that was.  In case you missed it, here was my overdue post about our dividend income journey and I got a chance to chat with Andrew Graham, CEO of Borrowell.
Enjoy your weekend everyone and take care.
Thanks to Dividend Growth Investor for posting my article:  why I use dividend growth investing.  There was some inspiration when I read this comment to my article:  “My wife and I are on target to hit $80,000 in dividend income this year and with our principal residence paid off years ago, and rental properties which are free and clear, we sleep well at night.  Lots of changes happening where I work and if I do become a casualty as our employers “realigns” its resources, I don’t really care if I am downsized.”  Great place to be in…
Our Big Fat Wallet said condos are not a great investment…

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FORT MCMURRAY, Alta. — While fire crews continue to battle the massive blaze that has consumed at least 1,600 homes, businesses and public buildings in the northern Alberta city of Fort McMurray, the province’s premier is turning at least part of her focus to what comes next.
Premier Rachel Notley says plans are in the works for concrete support for the more than 80,000 evacuees forced out of the community, including financial aid and transitional housing.
At a supper hour news conference on Thursday, Notley said steps are being taken to ensure that people on an income assistance program for the disabled get their money. The provincial cabinet will also look at giving evacuees cash cards.
“I must stress that these are very early days and there is much more to do, and more help will be needed,” she said…

BEIJING, China – Mining giant Rio Tinto on Friday announced the launch of the next stage of a multibillion-dollar gold and copper mine in Mongolia following delays and political tension over revenue sharing and the foreign role in resource industries.
The underground portion of the Oyu Tolgoi mine will go ahead after Rio Tinto, the Mongolian government and another partner agreed on a $5.3 billion investment plan, the Anglo-Australian miner announced. It said production should begin in 2020.
Oyu Tolgoi became a symbol of tense relations between Mongolia and foreign investors. Expansion plans were delayed by disagreements over how to share revenue in the impoverished but resource-rich country between China and Russia.
Critics of government agreements with mining companies complain too little of Mongolia’s mineral wealth benefits the general public.
An open pit mine at Oyu Tolgoi opened in 2013 with an investment of $6.4 billion and employs some 3,000 people.
The latest agreement “is a clear demonstration that the country is back to business,” said the Mongolian prime minister, Chimediin Saikhanbileg, in a statement issued by Rio Tinto…