BUZZ-U.S. STOCKS ON THE MOVE-Valeant, JPMorgan, Fitbit, Newport
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Wall Street was lower in early trading on Tuesday, failing to sustain yet another rally in what has been a turbulent year so far, as prices of oil and other commodities resumed their declines. The Dow Jones industrial average was down 0.57 percent at 16,525.84, the S&P 500 was down 0.67 percent at 1,932.41 and the Nasdaq Composite was down 0.81 percent at 4,533.518.
** VALEANT PHARMACEUTICALS INTERNATIONAL INC, $82.54, +8.72 pct
The Canadian drugmaker said it would restate its financial results for 2014 and 2015 after identifying some sales to Philidor that should have been recognized when products were dispensed to patients.
** JPMORGAN CHASE & CO, $56.58, -3.40 pct
The largest U.S. bank by assets will set aside $500 million more in the first quarter for oil and gas loans on top of the $815 million at the end-2015.