Valeant whiffs on earnings and slashes guidance, and now the stock is getting crushed (VRX)

Valeant Pharmaceuticals on Tuesday reported a first-quarter loss of $373.7 million, after reporting a profit in the same period a year earlier.
The Laval, Quebec-based company said it had a loss of $1.08 a share. Adjusted for one-time gains and costs, earnings were $1.27 a share, less than the $1.37 that was expected by Wall Street analysts.
First-quarter revenue was in-line with expectations at $2.37 billion.
Following the report, shares of the company were down as much as 10.5% in premarket tr