Valeant, Energy Stocks Lead TSX Lower -- Canadian Commentary

(RTTNews) - Canadian stocks fell for a second day Tuesday, trimming strong recent gains amid falling commodity prices and new troubles for health care major Valeant.

The S&P/TSX Composite Index was down 92 points, or 0.68 percent, at 13,385.56 just head of the closing bell.

Weakness in the energy sector was a culprit. The Energy Index was down fractionally as crude oil futures dipped near $36 a barrel.

Valeant Pharmaceuticals International (VRX.TO) reported weaker than expected quarterly earnings and has slashed its full year profit forecast. Shares plunged 51 percent.

The company's fourth quarter adjusted EPS came in at $2.50, which fell short of the consensus estimate of $2.61. Valeant now expects to report full year 2016 EPS of $9.50 to $10.50, down from prior expectations of $13.25 to $13.75.