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JUL 28, 2014 - Yahoo! News

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Herbalife cuts sales outlook, shares slide 10.5 percent

(Reuters) - Herbalife Ltd, a maker of weight-loss and nutritional products, cut its sales outlook for the year after raising it three months earlier, sending its shares down 10.5 percent in extended trading. The company, which has been labeled a pyramid scheme by hedge fund manager Bill Ackman, also reported lower-than-expected quarterly profit as costs jumped. Ackman made a presentation last week portraying Herbalife as a criminal enterprise but the company's shares soared 26 percent as he failed to convince investors. The company has repeatedly denied Ackman's allegations, and ... Read More

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