Wednesday, 1 October 2014
Last updated 3 hours ago
Jul 29 2014 | 9:23am ET
Pershing Square Capital Management’s William Ackman couldn’t put a dent in Herbalife’s share price, but the end of the company’s earnings streak did.
Herbalife said yesterday that it missed analysts’ estimates for the first time in 21 quarters, or since the fourth quarter of 2008. That sent shares—which rallied 25% following Ackman’s anti-Herbalife presentation last week—down 10%.
Ackman accuses Herbalife of being a pyramid scheme, but the company’s shares have risen 80% since he announced his $1 billion short in December 2012. Herbalife shares are down 14% this year after the after-hours decline.
The Los Angeles-based company still faces several government investigations. It recently hired Alan Hoffman, the former chief of staff to Vice President Joseph Biden, to handle its regulatory affairs. Hoffman, who most recently led PepsiCo’s lobbying effort, is the former boss of Federal Trade Commission member Terrell McSweeney. The FTC is among the agencies probing Herbalife.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...