Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Shares of Herbalife Ltd. (NYSE: HLF) surged more than 12 percent as the potential resolution with FTC overshadowed the company's solid quarterly results and upbeat outlook for 2016.
Herbalife reminded investors that, as previously disclosed, the company is in discussions with the FTC regarding its advertising and marketing practices.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
"The discussions with the FTC are in the advanced stages, but there are still a number of material open issues that could preclude reaching final agreement," Herbalife said.
"Solid 1Q results and raised 2016 guidance are likely to take a backseat to the news that HLF is now in 'advanced stages' with respect to settling the ongoing FTC investigation (incl. a $200 million payment)," SunTrust analyst Michael Swartz elaborated.
"While litigation is still a distinct possibility, the appearance of a potential resolution should lift shares higher," Swartz added.
The analyst maintains his Neutral rating, but raised the price target to $66.
Shares of Herbalife rose 12 percent to $65.37 in Friday's afternoon session, but had proceeded slightly lower to $63.91 before the close of regular trading.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.