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Stock Market & Financial Investment News

News Breaks
July 28, 2014
17:52 EDTAVP, HLF, USNA, TUP, NUSHerbalife plummets after results fall short of estimates
Shares of multi-level marketing company Herbalife (HLF) are sinking after the company's second quarter results missed analysts' consensus estimates. WHAT'S NEW: After the bell, Herbalife reported Q2 adjusted earnings per share of $1.55 and revenue of $1.3B, narrowly missing analysts' consensus estimates of $1.57 and $1.36B, respectively. WHAT'S NOTABLE: Herbalife forecast Q3 adjusted EPS of $1.49-$1.53, far below consensus of $1.62. Q3 net sales growth was seen at 9%-11%, compared to consensus of $1.36B. Despite the Q2 miss and weak Q3 profit outlook, the company raised its FY14 adjusted EPS view to $6.17-$6.32 from $6.10-$6.30, versus consensus of $6.30. The company did, however, lower its FY14 net sales growth view to 8.5%-10.5% from 10%-12%, compared to consensus of $5.38B. The company also lowered its FY14 volume point growth view to 6%-8% from 8%-10%. Herbalife noted that, "Forward guidance excludes the impact of expenses (primarily for legal and advisory services) relating to the company’s response to information put into the marketplace by a short seller, which the company believes to be inaccurate and misleading, expenses related to a FTC inquiry, and the impact of non-cash interest costs associated with the company’s convertible notes and the expenses incurred related to the effort to recover costs related to the reaudit that occurred last year." PRICE ACTION: In after-hours trading, Herbalife fell $7.66, or about 11.35%, to $59.82 on heavy trading volume. Excluding the after-hours plunge, the stock is up approximately 15% over the past twelve months. OTHERS TO WATCH: Other companies in the multi- level marketing space include Nu Skin Enterprises (NUS), Usana Health Sciences (USNA), Avon Products (AVP), and Tupperware (TUP).
News For HLF;NUS;USNA;AVP;TUP From The Last 14 Days
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May 15, 2015
05:46 EDTAVPStocks with implied volatility movement; BHP AVP
Stocks with implied volatility movement; Avon Products (AVP) 77, Baker Hughes (BHI) 27 according to iVolatility.
May 14, 2015
19:47 EDTHLFHerbalife responds to court's final approval of class action settlement
Herbalife issued the following statement: “Herbalife welcomes the decision by the U.S. District Court for the Central District of California to grant final approval of the class action settlement in the matter of Dana Bostick v. Herbalife International of America Inc et al. As we have consistently stated, we believe that the settlement is fair, reasonable and adequate to class members, and we note the court found that the low number of claimants was not surprising in light of the substantial survey results indicating that most people join Herbalife to become discount consumers of our products."
16:19 EDTAVPOn The Fly: Top stock stories for Thursday
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13:28 EDTAVPIncreasing equity options volume
Increasing equity options volume: FCX UPS KSS CHK CSCO AVP YOKU CALM KORS
13:24 EDTAVPAvon Products volatility elevated, company says it has not received offer
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13:02 EDTAVPAvon says not received offer, not able to confirm PTG Capital Partners exists
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12:49 EDTAVPOn The Fly: Top stock stories at midday
The market opened higher amid lower than expected weekly jobless claims, data showing that producer prices fell rather than rose in April and a continued slide in the dollar against the euro. The Dow notched triple digit gains right out of the gate and the averages have moved in a narrow range in morning trading, albeit at near-record levels. ECONOMIC EVENTS: In the U.S., initial jobless claims fell 1K to 264K in the week ended May 9, versus expectations for 273K first-time claims. The weekly data brought the four week moving average to 271.75K, which marks its lowest level in 15 years. The Producer Price Index fell 0.4% in April, with the core PPI reading sliding 0.2%, which missed expectations for both the headline and core PPI figures to have grown 0.1%. After dropping 1.3% yesterday against the euro, the U.S. dollar slid another 0.4% earlier to about $1.14 per euro, bringing its decline to about 7% versus the euro in the past month. COMPANY NEWS: Shares of Avon Products (AVP) were volatile after "PTG Capital Partners" announced via a filing with the SEC that it has submitted an offer to the board of Avon proposing to acquire all of the company's outstanding stock, and outstanding options to acquire such shares, in a recommended cash tender offer at a price per share of $18.75. Shares of Avon spiked initially after the filing, were halted several times due to volatile trading, and came well off their earlier highs as investors questioned the validity of the firm making the purported offer. A source told Dow Jones that the company was treating the purported bid as a hoax and Avon told CNBC that it had no proof PTG exists and that it has not received any offer. Still, Avon remained up about 4% to trade near $6.92 per share in early afternoon trading. MAJOR MOVERS: Among the notable gainers was Russia's QIWI (QIWI), which jumped 12% after the company announced that it has entered into an agreement with Otkritie to acquire the Contact money transfer system and the Rapida payment processing system, which are "highly value accretive" acquisitions according to analysts at JPMorgan. Also higher was China's Ctrip.com (CTRP), which gained 10% and was upgraded at Stifel and Oppenheimer following the company's Q1 results. Among the noteworthy losers was Puma Biotechnology (PBYI), which dropped 18% after data on the company's neratinib drug was disclosed via an abstract for the company's upcoming presentation at the American Society of Clinical Oncology, or ASCO, meeting. Also lower following its earnings report was retailer Kohl's (KSS), which slid over 12%. INDEXES: Near midday, the Dow was up 170.23, or 0.94%, to 18,230.72, the Nasdaq was up 55.96, or 1.12%, to 5,037.65, and the S&P 500 was up 17.10, or 0.81%, to 2,115.58.
12:41 EDTAVPAvon treating PTG takeover offer as hoax, Dow Jones reports
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12:38 EDTAVPSuspect Avon purported bidder mirrors language of respected firm TPG
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12:36 EDTAVPAvon Products says no proof PTG exists, has not received offer, CNBC reports
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12:02 EDTAVPAvon Products off highs as questions surround PTG Capital
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11:57 EDTAVPBloomberg unsuccessful in attempts to reach PTG Capital
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11:48 EDTAVPPTG Capital recommends tender offer for Avon at $18.75 per share
PTG Capital Partners announced via a filing with the SEC that it has submitted an offer to the board of Avon Products proposing to acquire all of the company's outstanding stock, and outstanding options to acquire such shares, in a recommended cash tender offer at a price per share of $18.75. The offer is subject to "satisfactory completion of due diligence, the redemption or termination of the rights plan, or 'poison pill', if any, and negotiation and execution of a definitive written agreement." PTG said it has "substantial experience in managing acquisitions and is committed to working quickly to complete due diligence and execute a definitive agreement." PTG Partners expects to be able to complete such an agreement within 10 days from the beginning of the due diligence period. PTG cautioned that the offer "does not create any binding obligation, and no such binding obligation will arise unless and until a mutually satisfactory definitive agreement has been executed and delivered by the parties." It added that it believes a combination of the company and PTG would result in "substantial benefits" to shareholder bases. After being halted for volatility, Avon shares are up $1.31 to $7.98. The stock halted again after the quick rise.
11:47 EDTAVPAvon Products halts again for volatility after jumping $1.31 to $7.98
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11:45 EDTAVPAvon Products resumes trading, shares up $1.13 to $7.80
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11:41 EDTAVPPTG Capital offers to buy Avon Products for $18.75 per share
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11:39 EDTAVPPTG Capital submits offer to acquire Avon Products for $18.75 per share
11:38 EDTAVPAvon Products halts for volatility after PTG Capital reportedly makes offer
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May 12, 2015
18:47 EDTHLFCasino union requests Herbalife investigation, Reuters says
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May 11, 2015
10:27 EDTNUSFMR reports 10.64% passive stake in Nu Skin
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