Webster Financial Corporation (NYSE:WBS) down by 3.79%, Endo Health Solutions Inc (NASDAQ:ENDP)

Posted by Lynn Eisler May 9, 2013 0 Comment 1047 views

Webster Financial Corporation (NYSE:WBS): The company shares slid by 3.79% in Wednesday’s trading session. The opening price of Webster Financial Corporation (NYSE:WBS) shares was $22.79 which rose to an intraday price of $23.13 before settling down to $22.65 per share. More than 6.66M million shares were traded on Wednesday which was far above the average volume of 0.528M that was measured over the last 30 days.

Webster Financial Corporation (NYSE:WBS) is Webster Bank N.A’s holding company and holds $20 billion in assets. The former today announced that Warburg Pincus Private Equity X, L.P as well as “Warburg Pincus”, one of its affiliates announced that they intended to put up an underwritten secondary offering of 8,744,850 shares of the common Webster stock, for sale. Webster has filed a statement with the Securities and Exchange Commission that all the proceeds of this particular sale will go to Warburg Pincus.

Webster is strongly entrenched in the finance sector and provides consumer and business banking, financial planning, mortgage, investment and trust services via 168 banking offices, telephone banking, 294 ATMs, Internet and mobile banking.

Endo Health Solutions Inc (NASDAQ:ENDP): There was a drop of 3.51% in Endo Health Solutions Inc (NASDAQ:ENDP) in Wednesday’s trading session. The shares had an opening price of $36.97 which rose to the intraday price of $38.25 before dipping to $36.64 per share. More than 4.31 million shares were traded on this day which was almost double that of the average volume of 2.45M which has been measured over a 30-day time frame.

The company’s 2013 first-quarter earnings with the exclusion of special items was $1.09 per share. This figure beat analyst estimates by one penny and had risen by 25% from a year earlier in the same period. The 2013 first-quarter earnings were aided specifically by lower costs. In the same period, revenue of $708.5 million was raked-in which was an increase of 3% but were still below the average analyst estimate of $744 million. Endo Health Solutions Inc (NASDAQ:ENDP) revenues have been affected by a dip in sales of Lidoderm and Opana, its painkillers. There was a drop of 11% in sales of the former while the latter saw a drop of 31%.

About Lynn Eisler

Lynn Eisler is a national news reporter focusing on economic issues, data analysis and the financial health of state and local governments. Lynn has been honored with the H.L. Mencken Award for Investigative Reporting, the Champion of Justice Award for reporting on the drug war, and the John Hancock Award for business reporting. Lynn was also a Knight Medical School Fellow at the University of Michigan.

View all post by Lynn Eisler Visit author's website

Write Your Comment