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Valeant Up 17% After Q3 Report

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Valeant Pharmaceuticals Intl Inc (NYSE: VRX) shares are trading higher by $2.06 (17 percent) at $14.10 in Tuesday's session.

Before the open, Valeant reported Q3 GAAP EPS of $3.69 vs. 89-cent estimates (excluding items, the company earned $1.04 per share) and sales of $2.22 billion. The strong report may allow the company to reduce some of its burdensome debt load that has plagued the company during its fall from grace that began in August 2015, when the stock peaked at $263.81.

After a much higher open, Valeant had a brief retreat to $13.65 before continuing its move higher. So far, the ensuing rally has taken the issue to $14.32. That matches its Oct. 12 high of $14.31.

The stock is attempting to post its first close over $14.00 since Oct. 11, when it ended that session at $14.29.

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