Carl Icahn and Bill Ackman may have made up after their epic feud, but Icahn still insists Ackman is "totally wrong" for shorting Herbalife. » Read More
Take a look at some of Friday's midday movers:
The stock market baffles investors; the "Mad Man" gets a high "Squawk" honor; and JC Penney stock hits the discount rack—all in our latest installment of "Talking Squawk."
Herbalife has already provided one of the best stock market dramas in years. Now, through no fault of its own, it could become a catalyst for change in the auditing profession. The NYT reports.
Stocks ended higher Thursday lifted by an upbeat jobless claims report, with the Dow and S&P 500 closing at fresh levels, while weakness in large tech companies limited gains on the Nasdaq.
U.S. prosecutors in California filed criminal charges against Scott London, a former senior auditor at KPMG in Los Angeles, of conspiracy to commit securities fraud.
The "Squawk on the Street" crew discusses the resignation of a KPMG auditor for his role in leaking non-public data.
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.