Herbalife's Shares Up After Attack From Ackerman; S&P 500 Hits Intraday Record
Stocks end the day higher, with the S&P 500 hitting an intraday record. Companies are continuing to release their second quarter earnings statement this week. Nearly a fifth of the companies in the S&P 500 have reported their Q2 earnings statements so far, with 66% of them beating analysts' estimates. Chipotle (CMG) just blew away earnings estimates for the second quarter and investors are already reevaluating their price targets. Some investors are estimating the stock to rise an additional 21% to $800 in its 12-month price target.Bill Ackerman, the head of Pershing Square Capital Management, delivered what he believed to be a "death blow" to Herbalife (HLF) yesterday, attacking Herbalife's business practices. But the "death blow" didn't turn out how he expected, resulting with Herbalife's shares surging 21% today.
Word on the Street
Published on Jul 22, 2014By InvestorGuide Staff