NOTE: Trending Tickers is an index compiled exclusively by Yahoo Finance every day. It’s a list of companies whose stocks are seeing the biggest bump in interest as measured by your Yahoo Finance Ticker searches.
Making the list of Trending Tickers today are:
American Airlines (AAL) - popping today as it reports traffic was up in February compared to last year
McDonalds (MCD) - the Dow component is down as U.S. sales continue to struggle
Chiquita (CQB) - the stock is going bananas today after announcing a merger with Ireland’s Fyffes
Boeing (BA) - more Dreamliner 787 woes are putting pressure on the Chicago-based company
And our trending ticker today, Herbalife (HLF)
The supplements company is climbing higher today as the New York Times reveals noted short seller Bill Ackman had lobbied aggressively for an FTC investigation of the company, raising some eyebrows with his tactics.
Ackman famously made public his $1 billion short bet against the company, and now the Times reports Ackman revealed at a dinner party that House Representative Linda Sanchez (D-CA) would petition the FTC to investigate Herbalife. Interestingly, Sanchez’s letter to the FTC was not public at the time, nor had the FTC commission received it yet. The Times reports when Sanchez’s office issued a press release a month later, it was backdated as though the letter was public the day before Ackman’s dinner.
The scale to which Ackman has gone to bring scrutiny on Herbalife multi-level marketing schemes, including hiring lobbyists tied to lawmakers like Sanchez and Senator Ed Markey (D-MA) as the Times reports, is bringing some unwanted attention to Wall Street and Washington. One thing is for sure, this story has a long way to go.
That’s your trending ticker for today. We’ll see you back here tomorrow.
Merrill Lynch is not responsible for the editorial content of this blog
- Bill Ackman