Toys ‘R’ Us up several points after Q4 results; Endo International rebounds; Valeant down

By Colin Hanner

Chicago, April 12 – The prelude to Easter could be felt in the distressed market on Wednesday, traders said, with noteworthy volume only in recent new issues in the high-yield market and Toys ‘R’ Us, Inc. after the toy retailer announced its fourth quarter earnings.

The retailer was the largest gainer with volume on the session as its fourth quarter results came in mixed.

Endo International plc rebounded in the secondary market after dropping by a round number on Tuesday’s session. Valeant Pharmaceuticals International Inc. trailed with a fractional loss.

Several one-off names traded with a small number of printed issues, traders said, speaking to the activity dying down in markets as the shortened week comes to a close.

“Activity is even lesser today” compared to Tuesday, a trader said.

“There is very little volume for issues that are trading below 60 or 70 cents on the dollar,” a trader said. “It seems like the Easter holiday is well underway.”

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