What to Watch Tuesday: Valeant Pharmaceuticals Finally Reports Earnings

On Tuesday, June 7, investors will be keeping a close eye on first quarter results from embattled Canada-based drugmaker Valeant Pharmaceuticals (VRX) , due to be released before the markets open. Valeant's results were delayed for months, after the company launched an internal accounting review earlier this year. Wall Street expects Valeant to report earnings of $1.37 a share, a drop from the $2.36 reported during the same quarter last year. Revenue is expected to jump 8.7 percent year-over-year to $2.38 billion. Valeant shares have lost 71 percent since the start of the year. After the closing bell on Tuesday, Verifone Systems (PAY) and Dave & Busters Entertainment (PLAY) - Get Report will also release quarterly results. It'll be a light day on the economic calendar, starting with productivity and labor costs data for the first quarter, due to be released at 8:30am Eastern. At 3pm, consumer credit data for April is unveiled, which is expected to drop to $18 billion, after surging to $29.7 billion in March. TheStreet's Scott Gamm reports from Wall Street.