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News Breaks
July 28, 2014
17:52 EDTHLF, NUS, USNA, AVP, TUPHerbalife 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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September 18, 2014
06:24 EDTAVPCiti defends recent downgrade of Avon Products
Citigroup says that following investor pushback, it is defending its September 8 downgrade of Avon Products to Neutral. The firm says it is comfortable with below consensus estimates given the recent strengthening of the U.S. dollar relative to several currencies. Citi adds that it has less confidence in Avon's turnaround following the departure of CFO Ross. It keeps a Neutral rating on the stock with a $15 price target.
September 15, 2014
12:14 EDTHLFHerbalife expands partnership with American Youth Soccer Organization
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September 14, 2014
16:17 EDTHLFHerbalife near settlement with former distributors, NY Post says
Herbalife is close to reaching a settlement with five former distributors that allege the nutrition company is a pyramid scheme and has victimized thousands, says the NY Post. Reference Link
September 9, 2014
10:10 EDTAVPOn the Fly: Analyst Downgrade Summary
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10:10 EDTAVPOn the Fly: Analyst Upgrade Summary
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09:12 EDTAVPOn The Fly: Pre-market Movers
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08:14 EDTAVPAvon Products downgraded to Neutral from Buy at Citigroup
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07:42 EDTAVPAvon Products upgraded to Buy from Neutral at BTIG
BTIG upgraded Avon to Buy with a $17 price target based on valuation, easy comps, U.S. profitability, and strategic initiatives.
September 8, 2014
17:25 EDTAVPBaker Hughes names Kimberly Ross CFO
Baker Hughes (BHI) announced that Kimberly A. Ross, has been appointed senior vice president and CFO effective October 22. Ross currently serves as executive vice president and CFO of Avon Products (AVP).
17:19 EDTAVPAvon Products announces CFO Kimberly Ross resigns, effective October 2
Avon Products announced that Kimberly Ross, Executive Vice President and CFO, has resigned effective October 2. Ross joined Avon in 2011. Robert Loughran, Vice President and Corporate Controller, will be appointed Avon's acting CFO effective October 2, while the company completes the search process for a permanent CFO.

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