Closing Bell: Nasdaq Ends at Fresh Record; Valeant Pharmaceuticals Rallies

The Nasdaq ended at a record for the third session in a row as volatility held near a two-decade low. The S&P 500 and Dow Jones Industrial Average sported slight losses. United Continental (UAL) - Get Report jumped after posting a 7.4% year over year increase in passenger revenue miles in April. The airline has faced poor publicity after video of officers forcibly removing a passenger from a plane in April went viral. Valeant Pharmaceuticals (VRX) rallied after topping first-quarter earnings expectations. The drugmaker also increased the low-end of its full-year EBITDA guidance by $50 million. Hertz (HTZ) - Get Report tumbled after posting a first-quarter loss much wider than Wall Street forecasts. Total revenues declined by 3%. The car rental firm said it is making progress in its turnaround plans. Shares suffered their worst losses since November 2016.