Herbalife up 4% after retaining Moelis as strategic advisor Shares of Herbalife (HLF) are moving higher in pre-market trading after the company announced it has retained Moelis & Company as its strategic advisor and that it expects to exceed its previously announced quarterly guidance of $50M of the repurchase authorization in upcoming quarters. The stock moved lower last week after Pershing Square's Bill Ackman announced a short position in the name. Herbalife shares are rallying 4.5%, or $1.23, to $28.50 in pre-market trading.
FTC, states charge four cancer charities as shams The Federal Trade Commission and 58 law enforcement partners from every state and the District of Columbia have charged four sham cancer charities and their operators with bilking more than $187M from consumers. Named in the federal court complaint are Cancer Fund of America, Cancer Support Services, Children’s Cancer Fund of America and The Breast Cancer Society. Shares of Herbalife (HLF) and Lumber Liquidators (LL) weakened intraday yesterday as speculation circulated about whether either of the companies would be the target of the FTC's announcement today.