Valeant explodes after boosting guidance (VRX)

Shares of Valeant Pharmaceuticals surged 15% to $11.21 after the company raised 2017 earnings guidance.
The embattled drugmaker raised its full-year adjusted EBITDA forecast to $3.6 billion to $3.75 billion, up from the $3.55 billion to $3.7 billion range the company provided in February. In addition, Valeant's first-quarter adjusted EBITDA of $861 million exceeded the consensus forecast of $854.9 million.
The company also reduced debt by $1.3 billion in the first quarter, and executed a de