Key Developments: Herbalife Ltd (HLF)
49.55USD
18 Jun 2013
$0.65 (+1.33%)
$48.90
$48.84
$49.94
$48.69
1,870,683
2,397,697
$56.39
$24.24
Latest Key Developments (Source: Significant Developments)
Herbalife Ltd Engages PricewaterhouseCoopers LLP As Auditors
Herbalife Ltd filed a Form 8-K indicating that the Audit Committee of its Board of Directors has engaged PricewaterhouseCoopers LLP (PwC) as the Company's independent auditors. PwC will commence work immediately to re-audit the Company's consolidated financial statements for the fiscal years ended December 31, 2010, 2011 and 2012. PwC will also review the Company`s condensed consolidated financial statements for the first quarter of 2013. The engagement of PwC was made after an extensive evaluation process by the Company's Audit Committee. Full Article
Herbalife Ltd Approves Dividend
Herbalife Ltd announced that Board Of Directors has approved a dividend of $0.30 per share to shareholders of record May 14, 2013, payable on May 28, 2013. Full Article
Herbalife Ltd Issues Q2 2013 Guidance Below Analysts' Estimates; Raises FY 2013 Guidance
Herbalife Ltd announced that for the second quarter of 2013, it expects net sales growth vs 2012 in the range of 11.0%-13.0% and diluted EPS in the range of $1.14-$1.18. For fiscal 2013, it expects net sales growth vs 2012 in the range of 13.0%-15.0%. The Company also announced that it is raising its fiscal 2013 EPS guidance to a range of $4.60 to $4.80. The Company reported revenue of $1.032 billion in the second quarter of 2012 and revenue of $4.1 billion in fiscal 2012. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $1.172 billion and EPS of $1.26 for the second quarter of 2013; and revenue of $4.6 billion and EPS of $4.66 for fiscal 2013. Full Article
FBI Probes Trading As KPMG Quits Herbalife Ltd, Skechers USA Inc Audits-Reuters
Reuters reported that in a blow to one of the accounting firms, KPMG said it resigned as auditor of two U.S. corporations amid an FBI investigation into insider trading allegations involving leaked information and a former senior partner. The two California-based companies, Herbalife Ltd and Skechers USA Inc, said separately that KPMG had quit as their auditor in connection with the leaks. The FBI's Los Angeles office is investigating the matter. Full Article
Herbalife Ltd Announces Quarterly Dividend
Herbalife Ltd announced that its Board of Directors has approved a dividend of $0.30 per share to shareholders of record March 5, 2013, payable on March 19, 2013. Full Article
Herbalife Ltd Issues Q1 2013 Guidance; Revenue Guidance Above Analysts' Estimates; Issues FY 2013 Revenue Guidance Above Analysts' Estimates; Raises FY 2013 EPS Guidance
Herbalife Ltd announced that for the first quarter of 2013, it expects net sales growth vs 2012 in the range of 15.0%-17.0% and diluted EPS in the range of $1.03-$1.07. For fiscal 2013, it expects net sales growth vs 2012 in the range of 12.0%-14.0%. The Company also announced that it is raising its fiscal 2013 EPS guidance to a range of $4.45 to $4.65. The Company reported revenue of $964.18 million in the first quarter of 2012 and revenue of $4.1 billion in fiscal 2012. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $1.066 billion and EPS of $1.06 for the first quarter of 2013; and revenue of $4.5 billion and EPS of $4.64 for fiscal 2013. Full Article
Carl Icahn Buys 14 Million Shares In Herbalife Ltd-Reuters
Reuters reported that Carl Icahn a billionaire investor said in a regulatory filing that he owns 14 million shares, or 13%, Herbalife Ltd and signaled that he is ready to help put the Company in play. Full Article
Herbalife Ltd Raises Q4, FY 2012 EPS Guidance
Herbalife Ltd announced that for fourth quarter of 2012, it expects earnings per share (EPS) to be in a range of $1.02 to $1.05, compared to prior year reported EPS of $0.86. Fiscal 2012 EPS is expected to be in a range of $4.02-$4.05, compared to prior year reported EPS of $3.30. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $1.01 for fourth quarter of 2012 and EPS of $4.03 for fiscal 2012. Full Article
Dan Loeb's Third Point Takes 8.2% Stake In Herbalife Ltd-DJ
Dow Jones reported that Dan Loeb's Third Point disclosed it has taken an 8.2% passive stake in Herbalife Ltd. The filing comes a day before Herbalife's analyst and investor meeting, in which the Company plans to combat recent criticism about its business model. Full Article
Herbalife Ltd Closes Acquisition Of U.S. Manufacturing Facility In Winston-Salem, North Carolina
Herbalife Ltd announced that its agreement to purchase a manufacturing facility in Winston-Salem, North Carolina, was completed on December 31, 2012. The purchase of this facility further expands Herbalife's global manufacturing capacity and is in line with the Company's stated strategy to increase self-manufacturing for its top products. Full Article
Former KPMG partner pleads guilty to insider trading scheme
- Scott London, a former senior partner with accounting firm KPMG, agreed to plead guilty to securities fraud for his involvement in insider trading, according to an announcement from the U.S. Attorney's Office in Los Angeles.
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