Endo Health Solutions (ENDP -4.5%
) trades lower after cutting its 2013 guidance
yesterday due to higher charges related to its core painkiller franchise and generic-drug business. It now expects its EPS to be within a range of $4.40 to $4.70 a share, down from earlier projections of $5.20 to $5.40. Revenue is projected between $2.8B to $2.95B, below previous estimates of $3B to $3.2B. Piper Jaffray cut the shares
to Neutral on the news, and lowers its price target to $28.