BUZZ-U.S. STOCKS ON THE MOVE-Valeant, JPMorgan, Fitbit, Newport
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Wall Street fell on Tuesday, led by materials and financial stocks, as yet another rally failed to take off in what has been a turbulent year for financial markets. The Dow Jones industrial average was down 1.00 percent at 16,453.97, the S&P 500 was down 0.98 percent at 1,926.5 and the Nasdaq Composite was down 1.05 percent at 4,522.557.
** VALEANT PHARMACEUTICALS INTERNATIONAL INC, $82.83, +9.10 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, $56.31, -3.86 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.