Valeant Pharmaceuticals Intl Inc (NYSE:VRX) has begun a turnaround. The Laval, Canada-based drug manufacturer is on a growth path again after VRX stock came crashing from lofty highs. A new CEO now works to drive profits and reduce a heavy debt burden.
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China is diversifying its foreign exchange reserves in order to safeguard their value, the country's currency regulator said on Thursday, while dismissing a media report the government is halting or reducing its purchases of U.S. debt. Bloomberg News reported on Wednesday that Chinese officials reviewing the country's vast foreign exchange holdings had recommended slowing or halting purchases of U.S. Treasury bonds amid a less attractive market for them and rising U.S.-China trade tensions. The report sent U.S. Treasury yields to 10-month highs and the dollar lower.
China said on Thursday protectionist sentiment is rising in the United States and criticised Washington for blocking a high-profile Chinese takeover of a U.S. financial firm on security grounds. Ant Financial's planned $1.2 billion purchase of transfer firm MoneyGram International Inc collapsed last week after a U.S. government panel rejected the deal over national security concerns. It was the most high-profile Chinese deal to be torpedoed since Donald Trump was elected U.S. president a year ago on promises to put America first and protect U.S. jobs from foreign competitors.
The short answer: You'll lose out -- bigtime.
A couple of weeks ago, I suggested Rite Aid Corporation (NYSE:RAD) shares were hinting at a rebound rally that was, amazingly enough, worth a shot. The company had been beleaguered for months as the intended deal with Walgreens Boots Alliance Inc (NASDAQ:WBA) unraveled far longer than expected to complete, and ended up being much smaller than planned.
