Herbalife (HLF) beat the street with its quarterly earnings and raised its full-year forecast. The controversial supplement company posted $1.10 a share compared with estimates of $1.06. Excluding items it actually made $1.27 and revenue rose 17% from a year ago. Call the report at least a temporary win for activist investor Carl Icahn who's been backing the company while his rival Bill Ackman calls it a pyramid scheme. Shares are well off their 52-week high of about $71 which was set exactly a year ago. So far they haven't moved much on this earnings report.
Next up is McGraw Hill (MHP) which is out with earnings this morning. The company beat on both the top and bottom lines posting 80-cents a share on $1.18 billion in revenue. Just yesterday it was announced that the company's S&P ratings service has settled a lawsuit involving its ratings before the financial crisis. There were 14-plaintiffs in the case. Moody's was also part of the settlement. McGraw Hill stock is down 4% year to
Read More »from Herbalife Beats and Boosts Outlook; McGraw Hill Clears Hurdle