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Stock Market & Financial Investment News

News Breaks
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
News For HLF;NUS From The Last 14 Days
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October 20, 2014
05:54 EDTHLFStocks with implied volatility movement; HLD SD
Stocks with implied volatility movement; Herbalife (HLF) 109, SandRidge Energy (SD) 97 according to iVolatility.
October 15, 2014
16:37 EDTNUSOn The Fly: Closing Wrap
The market opened sharply lower amid sliding oil prices, worse than expected economic data, and the potential for a major M&A deal to fall apart due to tax inversion rule changes. The Dow fell more than 350 points within the first 30 minutes of trading, but then bounced back to move above its opening level. The volatility did not end there, however, as the market swung several more times during the session. The S&P 500's drop wiped out its gains for the year at one point, but a late day rally significantly cut the losses for the major averages. ECONOMIC EVENTS: In the U.S., retail sales, which were expected to be down 0.1% in September, actually fell 0.3% in the month and slipped 0.2% excluding autos. The Producer Price Index for final demand decreased a seasonally adjusted 0.1% in September from the prior month, marking the first decline in the measure in over a year. The core PPI reading, which excludes food and energy, was unchanged, versus expectations for a 0.1% rise. New York's Empire State manufacturing index fell 21.4 points to 6.2 in October, severely missing the expectation for a narrower pullback to a reading of 20. Business inventories rose 0.2% in August, versus expectations for an increase of 0.4%. In China, the consumer price index climbed 1.6% in September from a year earlier, which was below the consensus projection for 1.7% inflation and down from 2% inflation in August. China's PPI plunged 1.8% year-over-year in September, which was more than the 1.6% slide expected and an acceleration of the 1.2% year-on-year decline in August. COMPANY NEWS: Shares of Shire (SHPG) plunged $74.08, or 30.29%, to $170.49 after AbbVie's (ABBV) board last night stated that it was reconsidering its recommendation that the company's shareholders back a takeover of Irish drugmaker in light of the potential impact of tax rule changes on the deal. During the day, Bloomberg reported that people familiar with the matter say AbbVie is close to abandoning its $51B takeover bid, while Shire announced that it has agreed to waive the requirement for three business days' notice for AbbVie's board to meet to consider its offer. In contrast, AbbVie ended the session up 50c, or 0.92%, at $54.63... Wal-Mart (WMT) held its annual meeting, during which it lowered its fiscal year 2015 net sales growth forecast to 2%-3%, citing a tougher sales environment than it anticipated a year ago. The company indicated in February that it expected net sales growth to be at the low end of its guidance provided last October of 3%-5%. The world's largest retailer also cut its planned retail square foot growth expectations, due to a moderation of large format store growth and accelerated e-commerce investments. Following the outlook revisions, Wal-Mart closed down $2.78, or 3.57%, to $75.20. MAJOR MOVERS: Among the notable gainers was Penford Corporation (PENX), which jumped $7.60, or 69.15%, to $18.59 after the company agreed to be acquired by Ingredion (INGR) for $340M, or $19.00 in cash per share. Also higher was Southwestern Energy (SWN), which rose $2.59, or 7.82%, to $35.69 after it was among a number of oil and gas exploration and production names upgraded by analysts at Bank of America Merrill Lynch. Among the noteworthy losers was Nu Skin (NUS), which dropped $4.47, or 9.13%, to $44.50 after the company disclosed new debt arrangements that come with certain restrictions, including restrictions on the payment of dividends. Also lower were shares of Covidien (COV), which fell $6.50, or 7.04%, to $85.86 in the wake of the news for Shire and AbbVie, which investors may have read as jeopardizing Covidien's deal to be bought by Medtronic (MDT). Note that on October 3 Medtronic announced that it intends to use approximately $16B in external financing to complete the acquisition of Covidien and said the strategic benefits of the transaction "remain compelling" despite the additional expense of the new financing. INDEXES: The Dow dropped 173.45, or 1.06%, to 16,141.74, the Nasdaq slipped 11.85, or 0.28%, to 4,215.32, and the S&P 500 fell 15.21, or 0.81%, to 1,862.49.
11:27 EDTNUSNu Skin falls after announcing debt deal, related restrictions
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11:23 EDTNUSNu Skin not restricted from making dividend payments, says Deutsche Bank
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11:11 EDTNUSNu Skin shares defended at Deutsche Bank
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October 13, 2014
09:01 EDTHLFHerbalife moving distributor websites to central control, NY Post reports
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October 10, 2014
12:11 EDTHLFOptions with increasing implied volatility
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11:27 EDTNUSPrescott General Patrners reports 4.3% passive stake in Nu Skin
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10:55 EDTHLFHerbalife volatility increases
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October 9, 2014
14:32 EDTHLFIcahn says never discussed Netflix with Tim Cook
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October 7, 2014
14:39 EDTHLFFTC probe of Herbalife seen lasting 'well into' next year, NY Post reporter says
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14:19 EDTHLFHerbalife expects discipline, but not shutdown, following FTC probe, FBN says
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13:59 EDTHLFHerbalife expects some discipline, not shutdown, from FTC, Gasparino says
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06:13 EDTHLFHerbalife names ex-FTC commissioner to lead compliance group
Herbalife yesterday announced the appointment of Pamela Jones Harbour to the newly created role of SVP, global member compliance and privacy, reporting to Mark Friedman, EVP and general counsel. Harbour will develop and enhance policies and infrastructure that ensure effective education, training and mentoring programs for the nearly 4 million independent Herbalife members worldwide, underpinned by robust and consistent monitoring and enforcement procedures. In addition to her compliance responsibilities, Harbour will also coordinate the companyís global privacy and cyber security efforts. Harbour served as a Commissioner at the Federal Trade Commission from 2003-2010 and a prosecutor at the New York State Attorney Generalís office for 12 years.
October 6, 2014
14:53 EDTNUS, HLFHerbalife, Nu Skin jump to session highs
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06:44 EDTHLFHerbalife names ex-regulator to lead compliance group, Reuters says
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