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January 28, 2013
11:54 EDTHLF, NUSHerbalife, Nu Skin slide after FTC targets 'pyramid scheme' in Kentucky
Shares of multi-level marketers Herbalife (HLF) and Nu Skin (NUS) are sliding after the Federal Trade Commission said on its website that it will co-host a press conference in Lexington, KY, today at 1 p.m. ET with the Kentucky Attorney General's office, to announce a "major action against an allegedly illegal pyramid scheme." Investor Bill Ackman attributed his well-publicized short position in Herbalife to the idea that the company is a pyramid scheme. However, neither Herbalife nor Nu Skin is mentioned in the FTC's announcement nor is either company headquartered in Kentucky. In 2010, USA Today said Kentucky Attorney General Jack Conway's office was investigating multi-level marketing company Fortune Hi-Tech, citing former managers of the company. Conway's office did not confirm or deny an investigation into Fortune Hi-Tech, the report noted, but did say Fortune could violate Kentucky's anti-pyramid scheme law if product sales alone couldn't "sustain the people at the lower end of the chain." The Fly notes that Fortune Hi-Tech has its headquarters in Lexington, KY, according to the company's corporate website. In late morning trading, shares of Herbalife are down $2.74, or 6.29%, to $40.85, while Nu Skin is down $1.75, or 3.88%, to $43.33. Reference Link
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August 7, 2014
10:00 EDTNUSOn The Fly: Analyst Downgrade Summary
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06:08 EDTNUSNu Skin orice target lowered to $70 from $110 at Deutsche Bank
Deutsche Bank lowered its price target for Nu Skin shares to $70 saying the regulatory overhang "continue to wreak havoc on the company’s important China business." The firm, however, says comparisons ease next year and that inventory can be worked down or written off. Deutsche keeps a Buy rating on Nu Skin following yesterday's Q2 results. Note the stock was downgraded this morning at JPMorgan to Neutral.
05:48 EDTNUSNu Skin downgraded to Neutral from Overweight at JPMorgan
JPMorgan downgraded Nu Skin to Neutral saying the underlying business is weaker than it expected with little visibility following the company's Q2 results. The firm cut its price target for shares in half to $50 from $100. Nu Skin closed yesterday down $11.40 to $46.52 after reporting Q2 results.
August 6, 2014
15:14 EDTNUSNu Skin value still compelling, says Sidoti
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13:50 EDTNUSNu Skin price target lowered to $65 from $105 at Wedbush
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12:12 EDTNUSOn The Fly: Midday Wrap
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11:44 EDTNUSNu Skin says China investigation resulted in no business model changes
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11:31 EDTHLFHerbalife makes fresh 52-week low, levels to watch
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11:30 EDTNUSNu Skin says China sales leaders 'down substantially' from last year
Nu Skin is speaking on its earnings conference call.
11:22 EDTNUSNu Skin says guidance reflects Q2 being 'low watermark' in China
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11:20 EDTNUSNu Skin August volatility elevated on less than expected guidance
Nu Skin August weekly call option implied volatility is at 97, August is at 65, September is at 58, December is at 50; compared to its 26-week average of 47 according to Track Data, suggesting large near term price risk on less than expected guidance.
11:17 EDTHLFHerbalife volatility elevated as shares pullback to one-year low
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11:11 EDTNUSNu Skin says business 'firming' in China, expects trends to continue
Nu Skin is speaking on its earnings conference call.
09:13 EDTNUSOn The Fly: Pre-market Movers
HIGHER: Fox class A shares (FOXA), up 5.9% after withdrawing proposal to acquire Time Warner (TWX), announcing $6B share repurchase program, reporting quarterly results... MannKind (MNKD), up 1.6% after entering a supply agreement with Amphastar Pharmaceuticals (AMPH)... Criteo (CRTO), up 11.5% after upgraded at Goldman following its better than expected Q2 earnings report. LOWER: Time Warner (TWX), down 13% after earnings, maintaining guidance, bid dropped by Fox... Sprint (S), down 16.5% after naming Marcelo Claure as president and CEO, reportedly dropping pursuit of T-Mobile (TMUS). T-Mobile shares also down 8.5%... Groupon (GRPN), down 18%, downgraded at Wunderlich after the company reported lower than expected Q3 results... Walgreen (WAG), down 15.7% after exercises option to acquire remaining 55% of Alliance Boots, says it will not pursue inversion as part of deal... Shire (SHPG), down 6% after Walgreen announced it would stay located in Chicago and Bloomberg last night reported that the Treasury Department is exploring ways to bypass Congress in an attempt to curb corporate inversions... Cytori Therapeutics (CYTX), down 33% after announcing that it has placed enrollment in the ATHENA and ATHENA II trials on clinical hold. UP AFTER EARNINGS: Enphase Energy (ENPH), up 20%... AOL (AOL), up 5%. DOWN AFTER EARNINGS: Nu Skin (NUS), down 8.5%... Rocket Fuel (FUEL), down 27%... Cognizant (CTSH), down 13%... First Solar (FSLR), down 2.5%... Globus Medical (GMED), down 17%.
07:36 EDTNUSNu Skin: Cessation in China marketing raises difficult comparisons in 2H14
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07:35 EDTNUSNu Skin sees Q4 EPS $1.00-$1.05; Sees Q4 revenue $650M-$670M
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07:35 EDTNUSNu Skin sees Q3 EPS 90c-95c, consensus $1.68
Sees Q3 revenue $620M-$640M, consensus $847.46M
07:34 EDTNUSNu Skin amends Q1 results that negatively impacted net income by $9.4M
The company determined to amend its quarterly report on Form 10-Q and restate its consolidated financial statements for the quarter ended March 31, 2014 to include a $21M charge to Other Income to reflect a hyper-inflationary adjustment for Venezuela, and $7M of income related to a tax rebate for the company's China headquarters. These changes, net of tax, negatively impacted net income for the three-month period ended March 31, 2014 by approximately $9.4M, but had no effect on cash flow. The company's consolidated statements of income for the six-month period ended June 30, 2014 reflect this correction of first-quarter results.
07:32 EDTNUSNu Skin reports Q2 EPS excl. items $1.13, consensus $1.27
Reports Q2 revenue $650M, consensus $709.03M
06:02 EDTHLFStocks with implied volatility below IV index mean; HLF CMG
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