Tears of Joy at Bausch & Lomb

Bausch & Lomb (BOL Quote) fans are shedding some tears of relief.

B&L shares jumped Monday after the company said it would permanently remove its ReNu with MoistureLoc contact lens solution from store shelves worldwide. Wall Street is now hoping the company can move past a months-long association with a rare eye infection that has hit the stock hard.

After weeks of investigation, Bausch & Lomb suggested Monday that "some aspect of the MoistureLoc formula" -- rather than problems that could threaten its entire ReNu brand -- could be tied to the rare eye infection. The disease, known as Fusarium keratitis, can lead to blindness. ...