Analyst Tim Ramey said assertions made by Bill Ackman during Tuesday's presentation are untrue, and Ackman is correcting the record.» Read More
NEW YORK— Activist investor Bill Ackman fired his latest salvo at the weight loss and nutritional supplements company Herbalife on Tuesday, alleging that one of the business models used by its distributors is evidence that the company operates as an illegal pyramid scheme.
CNBC contributor Herb Greenberg discusses investor Bill Ackman's presentation on Herbalife and whether he overhyped the marketing company's downfall.
*U.S. airlines suspend flights to Israel. NEW YORK, July 22- The S&P 500 hit a record high on Tuesday as inflation data was seen keeping the Federal Reserve in an equities-friendly tone, while hopes rose for an easing of tensions in Ukraine.
NEW YORK— A look at New York Stock Exchange 10 most-active stocks at 1 p.m.:. Advanced Micro Devices Inc. rose. 9 percent to $3.82 with 22,386,100 shares traded. Alcoa Inc. rose 1.9 percent to $16.94 with 18,406,000 shares traded.
NEW YORK— A look at the 10 biggest percentage gainers on New York Stock Exchange at 1 p.m.:. Herbalife Ltd. rose 14.6 percent to $61.89. Chipotle Mexican Grill Inc. rose 13.0 percent to $666.85.
Herbalife shares rose more than 17 percent to $63.29 in heavy volumes, more than recovering the losses made Monday after Ackman told CNBC he would expose Herbalife as an "incredible fraud" and deal the company a "death blow."
The "Fast Money" traders share their final trades of the day.
Hedge fund manager Bill Ackman is laying out his case against Herbalife. CNBC's Herb Greenberg, Kate Kelly and Scott Wapner, provide perspective.
Some of Tuesday's midday movers:
Robert Chapman, Chapman Capital, says he is adding aggressively to Herbalife despite Bill Ackman's criticism of the company. Also Chapman explains why he thinks the stock could hit $150 per share within a year.
CNBC's Kate Kelly reports on Bill Ackman's presentation on Herbalife. Perhaps he over-hyped this, says Kelly. And Herb Greenberg, Herb Greenberg's Reality Check editor, shares his thoughts on what's likely driving Herbalife's trading action.
NEW YORK, July 22- Billionaire investor William Ackman fired another volley on Tuesday in his 19- month-long war against Herbalife, this time taking aim at the company's use of nutrition clubs for recruiting, claiming they violate U.S. labor laws.
CNBC's Kate Kelly reports investor Bill Ackman spent $50 million on an undercover investigation into Herbalife. Ackman says Herbalife has "phantom or fictitious customers."
NEW YORK, July 22- Shares of Herbalife Ltd rallied on Tuesday in heavy volume, although they only recovered about half of Monday's steep decline. The move came as Bill Ackman, the chief executive of Pershing Square Capital Management and a vocal short against the company, gave a presentation that described it as a pyramid scheme.
CNBC's Kate Kelly reports Bill Ackman's presentation into exposing Herbalife as a pyramid scheme has begun.
CNBC's Scott Wapner speaks to Herbalife CFO John DeSimone about investor Bill Ackman's assertions that Herbalife is a massive fraud and is going to collapse. DeSimone says Ackman has made some outrageous statements and is missing the real analysis. "Herbalife is a beneficial multi-level marketing company," says DeSimone.
Bill Ackman, head of Pershing Square Capital Management, said his firm's presentation of a Herbalife investigation will "expose incredible fraud."
*Netflix and Chipotle both rise after-hours on results. *Yum Brands, McDonald's shares down on China food safety. NEW YORK, July 21- U.S. stocks slipped on Monday as investors remained cautious about instability in Ukraine and Gaza, though the three major indexes ended well off their lows, a sign that some appetite for riskier assets remained.
Stocks declined Monday as global disapproval of Russia increased after the downing of a passenger plane in Ukraine.
NEW YORK— Hedge fund manager Bill Ackman said he will hold a presentation Tuesday that will prove nutrition company Herbalife is a "fraud." The announcement sent shares of Herbalife down more than 11 percent in trading Monday.