CNBC reports that Herbalife may be taking itself private. Here’s an excerpt from the CNBC article:
Since the Dow quickly plunged nearly 1,000 points last Thursday, Cramer has been identifying bargain stocks that should be much higher, but remain low because of last week’s panicked selling. Herbalife is one to consider, he said during Wednesday’s Mad Money.
Based in the Cayman Islands, Herbalife sells nutritional supplements and weight management products through multi-level marketing or direct sales, like Avon and Tupperware. Last Monday, it beat the Street’s earnings estimates by 17 cents, delivering 98 cents a share on a 19% jump in revenues. Herbalife raised guidance for the full year as well and added $700 million to the company’s buyback. With that increase, this $2.8 billion company has authorized the repurchase of $1 billion of its own stock through 2014.
Read the whole story at CNBC…
