Why Valeant Pharmaceuticals International, Hollysys Automation Technologies, and Ascena Retail Group Jumped Today

The stock market finally hit some resistance on Tuesday, giving up ground and breaking a long streak of consecutive advances for most major benchmarks. Market participants got spooked by a rise in interest rates, with 10-year Treasury yields once again climbing above the 3% mark and leading some to predict even steeper advances in the future.

With budget deficits ballooning, higher interest expenses on the national debt could have a dramatic impact on the U.S. economy, especially if it lures investors away from high-flying stocks. Yet even amid the bond-driven downturn, some individual companies saw good news lift their shares. Valeant Pharmaceuticals International (NYSE: VRX), Hollysys Automation Technologies (NASDAQ: HOLI), and Ascena Retail Group (NASDAQ: ASNA)were among the best performers on the day. Here's why they did so well.