GO
Loading...

Breaking News from CNBC's Scott Wapner: Hedge Fund Manager Loeb Sells Long Position in Herbalife

When: Today, Saturday, February 16th

Where: CNBC.com

Following is breaking news from CNBC's Scott Wapner. Following is a link to the article: http://www.cnbc.com/id/100466047 . All references must be sourced to CNBC.

Hedge Fund Manager Loeb Sells Long Position in Herbalife

By: Scott Wapner, Host, "Fast Money Halftime Report"

CNBC.com | Saturday, 16 Feb 2013 | 6:27 PM ET

Hedge fund manager Daniel Loeb, has sold part of his long position in the nutrition company Herbalife, a source told CNBC.

Loeb, who runs Thirdpoint, started selling a few weeks ago and has continued to trade around the position, the source said, including this past Friday when shares surged.

Thirdpoint maintains a position in Herbalife, the source said.

Loeb's initial investment placed him squarely against another hedge fund titan, William Ackman, whose billion dollar short bet and fiery battle with Carl Icahn has been the talk of Wall Street ever since the two men brawled on CNBC's "Halftime Report" on Jan. 25.

Icahn revealed on Thursday evening, through a filing, his own long position in the company which caused shares to soar.

In a live interview on CNBC on Friday, Icahn said he believes the company is undervalued.

When reached by phone on Saturday evening, a spokesperson for Thirdpoint declined comment.

2013 CNBC.com

URL: http://www.cnbc.com/100466047


About CNBC:

With CNBC in the U.S., CNBC in Asia Pacific, CNBC in Europe, Middle East and Africa, CNBC World and CNBC HD , CNBC is the recognized world leader in business news and provides real-time financial market coverage and business information to approximately 390 million homes worldwide, including more than 100 million households in the United States and Canada. CNBC also provides daily business updates to 400 million households across China. The network's 16 live hours a day of business programming in North America (weekdays from 4:00 a.m. - 8:00 p.m. ET) is produced at CNBC's global headquarters in Englewood Cliffs, N.J., and includes reports from CNBC News bureaus worldwide.

CNBC also has a vast portfolio of digital products which deliver real-time financial market news and information across a variety of platforms. These include CNBC.com, the online destination for global business; CNBC PRO, the premium, integrated desktop/mobile service that provides real-time global market data and live access to CNBC global programming; and a suite of CNBC Mobile products including the CNBC Real-Time iPhone and iPad Apps.

Members of the media can receive more information about CNBC and its programming on the NBC Universal Media Village Web site athttp://www.nbcumv.com/mediavillage/networks/cnbc/