Herbalife HLF shares traded higher in Monday’s premarket session after receiving positive ink in Barrons before turning red on the market open.
Shares are down 19.7 percent since the company reported the first earnings miss in more than two years. Revenue was 3.7 percent below the revenue estimate at $1.31 billion versus $1.22 billion. This generated EPS of $1.55, two cents below what Wall Street was looking for.
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The column reported that “results could have been worse.” However, the write up also cited Garrett Arms of Moon Capital Management, who said earnings could have been as low as $0.65 per share if a more realistic Venezuelan currency translation.
Herbalife’s second quarter earnings report was on the tail of a Bill Ackman whipsaw. Shares traded in $13 range over two days as Ackman drove the price down by implying a smoking gun, but failed to provide one.
The issue was last trading 0.5 percent lower to $52.30.
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