Stocks on Hold as America Votes; Valeant Pharmaceuticals Shares Sink

U.S. stocks wavered Tuesday as America headed to the polls in a closely-watched presidential election between Hillary Clinton and Donald Trump. Stocks are on hold after a significant rally on Monday, where equities posted their largest gains since March 1 and snapped a nine session losing streak. "Whoever ends up in residence at 1600 Pennsylvania Avenue is going to have a pretty disgruntled electorate to try to bring along and I think markets will react to some of that," said Carol Schleif, deputy chief investment officer at Abbot Downing. Meanwhile, shares of Valeant Pharmaceuticals (VRX) slumped after reporting a disappointing outlook. The troubled pharmaceuticals giant is forecasting full-year earnings of between $5.30 and $5.50 a share, compared to previous estimate of $6.60 to $7 a share. Results for its most recent quarter also came in below forecasts and revenue fell 11% year-over-year. CVS Health (CVS) - Get Report shares fell after reporting lower full-year earnings guidance. The company exceeded Wall Street's third quarter earnings estimates, but missed on the top line. TheStreet's Scott Gamm reports from Wall Street.