U.S. stocks closed lower, with the Nasdaq off 1.6 percent, as investors weighed declines in oil and disappointing earnings ahead of the jobs report.» Read More
In a blow to one of the world's largest accounting firms, KPMG said it resigned as auditor of two U.S. corporations amid an FBI investigation into insider trading allegations.
A former KPMG senior audit partner who quit after admitting to passing on inside information about corporate clients Herbalife and Skechers USA was identified by the golf partner he had been tipping, the auditor's lawyer said.
Why would anyone even think of trying to illegally trade shares of a company under as much regulatory scrutiny as Herbalife?
Stocks finished off their best levels but the Dow still posted a fresh closing high Tuesday. And the S&P 500 traded within 2 points of its all-time peak earlier in the session.
A top auditor for Herbalife and Skechers is under investigation for leaking non-public client information to a third party, reports CNBC's Kayla Tausche. CNBC's Herb Greenberg and Harvey Pitt, Former SEC Chairman, discuss.
CNBC's Kayla Tausche spoke with Skechers CFO Dave Weinberg, who said it had been disclosed that a senior audit partner had admitted to selling the company's nonpublic information. The auditor, Scott London, is cooperating with the Feds and no one else is under questioning.
Another market melt-up. Forget Herbalife. The big story is the mountains of money being lost by traders who shorted the market at the open on Friday on the worst Jobs Report in years.
According to a source, ousted KPMG partner Scott London was the auditor for Herbalife, reports CNBC's Kayla Tausche.
KPMG first learned last Friday that a senior partner in the firm's audit practice had leaked confidential information to a third party concerning Herbalife and Skechers, reports CNBC's Kayla Tausche. CNBC's Herb Greenberg, provides perspective.
Some times big ideas are just too big to work. That's what happened when the brilliant hedge fund manager tried to remake JC Penney.
Take a look at some of Tuesday's midday movers:
Research Director for Mad Money, Nicole Urken, discusses JCP’s demise and the difficulty of turnaround.
CNBC's Jim Cramer said he expects activist investor Bill Ackman to do something drastic to take the spotlight off of JC Penney.
CNBC's Brian Shactman and Herb Greenberg report on the underlying issues surrounding KPMG as Herbalife stock begins trading again.
CNBC's Kate Kelly takes a look at how Ackman's Pershing Square holdings are performing so far this quarter. And CNBC's David Faber reports on alleged insider trading by one of KPMG's former partners, with the "Squawk on the Street" news team.
JC Penney's board made the "right choice" in bringing back Mike Ullman as CEO to try to save the company, but "I worry," Jim Cramer said Tuesday, a day after the ouster of Ron Johnson.
CNBC's Bob Pisani reports why shares of Herbalife remain halted for trading on the NYSE.
CNBC has been told by a source that KPMG's resignation as auditor to Herbalife is unrelated to the battle over the stock between investors Bill Ackman and Carl Icahn.
CNBC's Scott Wapner fills in the details on the resignation of KPMG as Herbalife auditor; and CNBC's Kate Kelly reports why a short play may not be necessary on the stock. Also, an update on why Herbalife has stopped trading, with CNBC's Herb Greenberg.