Valeant Pharmaceuticals Intl Inc VRX shares are trading lower by $4 (15 percent) at $24.85 in Tuesday's session. The catalyst for the decline to a new low for the move is a Q1 miss of dime with a slight beat for sales. The company slashed it FY 2016 outlook.
After ending Monday's session at $28.85, the issue opened sharply lower at $23.80. It sliced thought its former low of move ($23.55), falling to $22.52 before staging a rebound.
The ensuing rally has taken the issue to $24.98. If the issue continues to move higher, the bottom of Monday's range is not until Monday's low ($28.53).
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
