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Valeant Pharmaceuticals Intl Inc (VRX) Woes, Verizon (VZ)’s Interest, and Ralph Lauren Corp (RL)’s Comeback Plan

Viraj Shah: Viraj Shah has completed M.Com (Finance) and is currently pursuing his CFP. He tracks US markets along with other global markets like India very closely. He is very passionate about stocks, real estate, and technology. He also believes that money can always be made in the market.

Valeant Pharmaceuticals Intl Inc (NYSE:VRX) announces first quarter earnings, below are the key excerpts.

The company missed on revenue.

Dermatology and prescription ophthalmology both slump by significantly. Dermatology faces pushback from insurance companies and pharma benefit managers

Valeant Pharmaceuticals Intl Inc (NYSE:VRX) has been rated as Underweight by David Amsellem of Piper Jaffray. He also stated that there are all sorts of questions arise when you look at the numbers.

New CEO Joseph Papa has its task cut out for him. The shares are trading down in pre-market by more than 15%.

According to WSJ, Verizon Communications Inc. (NYSE:VZ) to bid for Yahoo! Inc. (NASDAQ:YHOO)’s internet business at $3 billion. The company had finished one round of bidding earlier and is expected to have another round in near future.

Verizon Communications Inc. (NYSE:VZ) is not the only company which is vying for Yahoo! Inc. (NASDAQ:YHOO)’s web assets but there are other players as well like Private equity firm TPG.

Ralph Lauren Corp (NYSE:RL) stock plunges in pre-market after CEO Stefan Larsson announced restructuring plan which will cost $400M. The company will also close stores which will result into double digit decline of sales.

Ralph Lauren Corp (NYSE:RL) plans to make a comeback by cutting jobs and eliminating multiple layers of management.

In latest development relating to plaintiff between Timothy J. Pagliara and Federal National Mortgage Assctn Fnni Me (OTCMKTS:FNMA)’s Federal Housing Finance Agency (“FHFA”), Peter Chapman writes to Judge sleet transfer Multidistrict Litigation (MDL) to United States District court of Columbia. Earlier on 2nd June’16 the court had declined to transfer MDL motion completely.