US STOCKS-Wall St declines; Valeant, healthcare weigh

miércoles 21 de octubre de 2015 18:33 GYT

* Valeant sinks after Citron report, drags Allergan

* GM, Boeing rise after strong results

* Ferrari up on debut

* Dow down 0.3 pct, S&P down 0.6 pct, Nasdaq down 0.8 pct (Adds eBay up after the bell, Community Health down, latest volume)

By Caroline Valetkevitch

Oct 21 (Reuters) - U.S. stocks fell on Wednesday as a sharp drop in Valeant Pharmaceuticals hit the healthcare space, while the energy sector dropped along with oil prices.

Valeant Pharmaceuticals' U.S.-listed shares plunged to an intraday low of $88.50 on record volume after a short-seller accused the company of using specialty pharmacies to inflate its revenue.

The company denied the allegation, and later investor Bill Ackman said he increased his Valeant stake by about 2 million shares. The stock pared losses to end down 19.2 percent at $118.61, still its lowest level since October 2014. It lost about $9.6 billion in market capitalization.

The news also dragged down shares of other healthcare names including Allergan, down 1.7 percent at $259, and Endo International, down 13.3 percent at $54.46, though both companies tried to ease concerns about their use of specialty pharmacies.   Continuación...