BUZZ-U.S. STOCKS ON THE MOVE-Valeant, Pacific Sunwear, Bed Bath & Beyond
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Wall Street was lower on Thursday, led by a fall in the telecom sector, as investors worried about the uncertainty surrounding the Federal Reserve's plans to hike interest rates, amid fears of weak global growth. The Dow Jones industrial average was down 0.78 percent at 17,577.64, the S&P 500 was down 0.77 percent at 2,050.66 and the Nasdaq Composite was down 0.92 percent at 4,875.612.
** VALEANT PHARMACEUTICALS INTERNATIONAL INC, $36.98, +8.22 pct
The drugmaker said it had obtained approval from its lenders for an amendment and waiver to its credit facility, giving the embattled drugmaker an extra month to file its annual report.
** PACIFIC SUNWEAR OF CALIFORNIA INC, $0.0615, -35.26 pct
The struggling teen apparel retailer filed for Chapter 11 bankruptcy protection on Thursday, succumbing to mounting losses and intense competition in the industry.