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Valeant shares tumble 20 percent, retrace ground to 2013 levels

Valeant Pharmaceuticals International Inc (VRX.TO)(VRX.N) shares fell as much as 20 percent on Thursday, building on weeks of steep losses over concerns about its ties to specialty pharmacy Philidor Rx Services, which is accused of improperly boosting sales of Valeant drugs. Valeant’s U.S.-traded shares hit their lowest since May 2013, falling as low as $73.37. The Wall Street Journal published a story on Thursday detailing the thinking of one of

U.S. jobless claims post largest increase since February

New U.S. applications for unemployment benefits last week recorded their largest increase in eight months, but remained at levels consistent with a fairly healthy labor market. Initial claims for state unemployment benefits rose 16,000 to a seasonally adjusted 276,000 for the week ended Oct.31, the Labor Department said on Thursday. A Labor Department analyst said there were no special factors influencing the data.