Morning Buzz: Amazon.com (AMZN), Valeant (VRX), Apple (AAPL), Celator (CPXX)

Amazon.com (AMZN) — The e-commerce giant is launching AWS Data Migration Service today, a business that will help companies move massive databases from their own computers to Amazon Web Services.

Shares of Amazon are down 3 points at $570.42 as of this writing.

Shares of Valeant Pharmaceuticals International, Inc. (VRX) are lower by nearly 38% to $43.11 in morning trading on Tuesday after sharply downgrading its outlook. The drugmaker guided Q116 revenues of $2.3-$2.4 billion, as compared to analysts’ expectations of $2.85 billion. The management also gave its bottom line range of $1.30-$1.55 per share, well below previous guidance of $2.66 per share. Valeant said weakness was tied to softer demand for its gastrointestinal drugs.

Shares of Apple (AAPL) will be in focus this session as the company’s latest response to the Justice Department in its high profile encryption case is due today. Apple stock is advancing 1.78% to $104.34 in early trading following a Morgan Stanley (MS) note detailing a favorable view on iPhone demand in the March quarter.

Celator Pharmaceuticals, Inc. (CPXX) shares skyrocketed 338.10% to $7.36 in early trading after the biotech said its drug candidate significantly improved survival in patients with high-risk acute myeloid leukemia. The name’s trading volume jumped on the news with the issue currently trading more than 15 million shares, compared to the average volume of 325K.

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