Welcome, visitor! Register

Herbalife shares slump on Nu Skin, Ackman’s ‘new’ information

MLM News October 11, 2015

Herbalife shares slump on Nu Skin, Ackman’s ‘new’ information
Rate this post

BOSTON/NEW YORK (Reuters) – Shares in nutrition company Herbalife Ltd , which billionaire investor William Ackman has accused of being a fraud, fell 7.5 percent on Wednesday, feeling the pressure from rival cosmetics maker Nu Skin’s cut to sales forecasts.

Nu Skin Enterprises Inc shares tumbled 25.7 percent after the company said it expects third quarter revenue of $570 million to $573 million, down from an earlier projection of $620 million. Two investors in Herbalife said that Nu Skin’s troubles were directly related to Herbalife’s stock price decline on Wednesday.

On Tuesday, Ackman, who has bet $1 billion that Herbalife’s shares will fall after accusing the company of running a pyramid scheme, said that he had more information on Herbalife when asked about it by a reporter at a conference sponsored by Bloomberg. Herbalife denies running a pyramid scheme where members make more money by bringing in new members than selling the actual product.

“Lots of new stuff, none I can report,” Ackman said in response to a question whether there was something new to say about the company. He was speaking after Tuesday’s market close.

A spokesman for Herbalife had no comment. A spokesman for Ackman’s Pershing Square Holdings had no comment.

During his nearly three-year campaign against Herbalife, Ackman has made several long presentations that detailed the company’s shortcomings. Several times the Herbalife share price went up when Ackman spoke.

Pershing Square Holdings has faced a few difficult weeks as Valeant, one big holding, saw its share price tumble amid questions of price hikes. Also Platform Specialty Products, another big holding, cut its outlook, sending its stock price down 10 percent on Wednesday.

(Reporting by Svea Herbst-Bayliss and Edward Krudy; Editing by Frances Kerry)

Read the original article on Reuters. Copyright 2015.
<img src=”https://mlmnewsblog.com/2015/10/herbalife-shares-slump-on-nu-skin-ackmans-new-information”1″ width=”1″ alt=””>

top-5-australian-business-directories-free-listing

No Tags

313 total views, 1 today

  

Sponsored Links

Leave a Reply

  • PACL - आज आ सकता है निवेशकों के दो करोड़ रुपए का फैसला

    by on March 11, 2015 - 59 Comments

    PACL – आज आ सकता है निवेशकों के दो करोड़ रुपए का फैसला5 (100%) 2 votes मध्य प्रदेश/रतलाम। PACL में फंसे निवेशकों की राशि पर फैसला बुधवार को आने की संभावना है। सेट यदि कंपनी को रुपए लौटाने का आदेश देता है तो एक साल बाद निवेशकों को पैसा मिलेगा। कंपनी आरडी, एफडी सहित अन्य […]

  • KWIL कंपनी ने उगाहे झारखंड से 300 करोड़

    by on February 17, 2015 - 13 Comments

    KWIL कंपनी ने उगाहे झारखंड से 300 करोड़Rate this post कोलकाता: Kolkata Weir Industries Limited नाम की चिटफंड कंपनी पर पांच वर्षो में झारखंड से 300 करोड़ रुपये की उगाही कर गायब होने का आरोप है.  इस चिटफंड कंपनी के एजेंट तमाल कुमार जाना ने बताया : झारखंड में कंपनी ने 2009 में अपना व्यवसाय शुरू किया […]

  • The Direct Selling Association – No Backbone When You Are Under Sieg

    by on September 3, 2015 - 0 Comments

    The Direct Selling Association – No Backbone When You Are Under SiegRate this post The Direct Selling Association – No Backbone When You Are Under Sieg   According to the Direct Selling Organisation (DSA) website: “DSA’s services to members are designed to meet the needs of one person critical to the industry’s growth and future […]

  • VISHWAMITRA INDIA और SAI PRASAD पर हुई छापेमारी, 24 गिरफ्तार

    by on May 1, 2015 - 0 Comments

    VISHWAMITRA INDIA और SAI PRASAD पर हुई छापेमारी, 24 गिरफ्तारRate this post झारखंड /जमशेदपुर – चिटफंड कंपनियों पर नकेल कसने के लिए झारखंड उच्च न्यायालय की फटकार के बाद सरकारी मशीनरी हरकत में आ गई है. रांची जिला प्रशासन ने गुरुवार को दो चिटफंड कंपनियों के विरुद्ध अभियान चलाया.  पुलिस ने गुरुवार को राजधानी में […]

  • Talk Fusion Anticipates Record-Breaking Dream Getaway

    by on September 30, 2015 - 0 Comments

    Talk Fusion Anticipates Record-Breaking Dream GetawayRate this post Talk Fusion Anticipates Record-Breaking Dream Getaway   With only 6 weeks left in the qualification period, Talk Fusion is already expecting attendance to break all previous records for their 6th Dream Getaway vacation incentive from December 3-7, 2015. Talk Fusion rewards qualified Associates from across the globe […]

Subscribe to News via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 24 other subscribers