Here's Why Shares of Valeant are Tanking on Tuesday
Valeant shares dropped after the company reported full year guidance short of expectations.
Valeant (VRX) shares slid lower Tuesday as the struggling Canadian drugmaker reported third quarter results that missed analyst expectations. The company also reduced its full year earnings guidance to between $5.30 and $5.50 a share vs. its previous range between $6.60 and $7 a share. Year to date, Valeant shares are down more than 85% as the company's $31 billion debt level continues to compound investor concern about falling earnings.
