Hurricane Sandy marks the first time the NYSE has closed due to weather since Hurricane Gloria came ashore in 1985. Valeant Pharmaceuticals (TSX:VRX) this morning announced it had changed the timing of its Q3 webcast and conference call to accommodate those affected by Hurricane Sandy.
The call, which was originally scheduled for Wednesday, October 31, 2012 at 8 a.m. ET, will now go at the same time this Friday, November 2nd.
Hurricane Sandy has forced the closure of both the New York Stock Exchange and the Nasdaq as New Yorkers prepared for, then were faced with the brunt of the storm, which has become the worst in a generation. Much of lower Manhattan flooded Monday, but early reports that the trading floor of the New York Stock Exchange was under three feet of water proved false.
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Hurricane Sandy marks the first time the NYSE has closed due to weather since Hurricane Gloria came ashore in 1985. That storm caused approximately $900 million in damages and was responsible for eight fatalities. Disaster-modeling company Eqecat says the toll from Sandy will be much worse, with perhaps up to $20-billion in economic damages. The death toll from the disaster has already risen to sixteen.
Valeant Pharmaceuticals, which is co-listed on the TSX and the NYSE, is Canada’s largest pharmaceutical company.