Ross Marowits
The headquarters of Bausch Health Solutions, formerly known as Valeant Inc., is seen in Laval, Que., on February 20, 2019. THE CANADIAN PRESS/Ryan Remiorz May 04, 2021 - 11:24 AM
Bausch Health Companies Inc. is preparing to spin off its eyecare business this fall while also considering suitable alternatives including a sale of the business, the company s CEO said Tuesday. We have a value in our mind for that business. But if there are others that want to pay a price that is equivalent to that value, we re always going to do what we believe is the right thing to do for our shareholders and evaluate that those types of offers, chairman and CEO Joseph Papa told analysts during a conference call about Bausch Health s first quarter report.
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Tech weighs on U.S. stocks ahead of megacap earnings
TORONTO Most North American stock markets fell after a good start to May as the technology sector came under pressure in the United States. Several large U.S. tech giants were lower with Apple Inc. down 3.5 per cent amid a rotation away from growth areas of the market that did well during the pandemic lockdowns. People are becoming rather shy about the tech sector in general for the time being, said Sid Mokhtari, executive director of institutional equity research at CIBC. The tech sector also took a hit from Treasury Secretary Janet Yellen s comments that interest rates may have to rise to prevent the economy from overheating. The sector tends to underperform amid concerns about rising rates.