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Stock Market & Financial Investment News

News Breaks
January 28, 2013
11:54 EDTNUS, HLFHerbalife, 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
News For HLF;NUS From The Last 14 Days
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March 24, 2015
07:07 EDTHLFHerbalife plans PR campaign to hit back at Ackman, CNBC reports
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March 23, 2015
11:26 EDTHLFHerbalife rallies, retraces, levels to watch
The shares hit an intraday high at $48.55 and have since turned lower. At the last price of $46.04, support is at $45.11 and then at $44.11, a prior pivot high. Resistance is at $46.24.
10:53 EDTHLFHerbalife continues recent strength with 10% jump
Shares of multi-level marketing company Herbalife (HLF) were up about 10% in morning trading after being up as much as 15% to $48.55 earlier this morning. On March 16, a judge in the U.S. District Court for the Central District of California granted Herbalife its motion to dismiss a class action complaint brought on behalf of shareholders who allege that the company and its executives violated federal securities laws by misrepresenting the "nature, scope and legality" of the company's business and operations. On March 20, Pershing Square, which noted that Bill Ackman and the firm were not parties to the Awad case decided the prior week, said the courtís decision "did not address in any way whether Herbalife is an illegal pyramid scheme, nor did the Court exonerate or bless Herbalifeís business practices." Since March 16, Herbalife shares are up about 29%.
10:14 EDTHLFHerbalife volatility elevated on sharp rally
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March 20, 2015
15:45 EDTHLFHerbalife breaks above top of recent range, levels to watch
Shares have broken out of the top of the recent trading range at $40. This is bullish price behavior. At the current price of $40.79 next resistance is at $42. Support is at $40. It would be bearish for price if the stock resumes trading below the $40 area.
15:38 EDTHLFHerbalife volatility stays elevated on sharp rally
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13:50 EDTHLFPershing Square corrects inaccurate press reports regarding Herbalife
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March 19, 2015
11:02 EDTHLFOptions with increasing implied volatility
Options with increasing implied volatility: HLF RAD NFLX HLSS NOW
March 18, 2015
13:49 EDTHLFHerbalife says 'confident in strong fundamentals of business model'
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09:23 EDTHLFOn The Fly: Pre-market Movers
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08:02 EDTHLFHerbalife wins dismissal of class action 'pyramid scheme' lawsuit
On March 16, a judge in the U.S. District Court for the Central District of California granted Herbalife its motion to dismiss a class action complaint brought on behalf of shareholders who allege that the company and its executives violated federal securities laws by misrepresenting the "nature, scope and legality" of the company's business and operations. According to the plaintiffs, Herbalife and its executives, including CEO Michael Johnson, misrepresented Herbalife as a legitimate multi-level marketing company when it "is actually an illegal pyramid scheme." The court concluded that the suit's plaintiffs have not adequately pled loss causation, meaning that the court need not consider Herbalifeís alternative arguments, according to a court filing. Shares of Herbalife are up 3% in pre-market trading after the court dismissal was widely reported by Bloomberg last night.
07:13 EDTHLFHerbalife complaint letter signer subpoenaed, Hartford Courant reports
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06:25 EDTNUSCiti calls Nu Skin its 'pot of gold on St. Patrickís Day'
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March 17, 2015
19:42 EDTHLFOn The Fly: After Hours Movers
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18:27 EDTHLFHerbalife up over 5% following favorable court ruling in 'pyramid scheme' suit
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18:07 EDTHLFHerbalife wins dismissal of 'pyramid scheme' lawsuit, Bloomberg says
10:26 EDTHLFOptions with increasing implied volatility
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March 16, 2015
17:08 EDTNUSNu Skin gets direct selling authorization for additional city in mainland China
Nu Skin Enterprises announced it has received approval from China's Ministry of Commerce for the company to commence direct selling activities in Shaoxing City in Zhejiang Province. Nu Skin is now licensed in 30 cities in 19 provinces and municipalities. The licensing process included a review of the company's operations. According to the Shaoxing City government, the city's population was more than 6M in 2013.
05:50 EDTHLFStocks with implied volatility movement; FIG HLF
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