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- BusinessMarketWatch•9 minutes ago
How Herbalife’s share buyback could force Bill Ackman to trim his short position
Will Herbalife Ltd.’s planned $600 million share buyback be the lever that forces hedge-fund manager Bill Ackman out of part of his roughly $1 billion short position in the stock? It might be, according to S3 Partners LLC, which has access to and tracks short-interest data in real time. It will certainly make life uncomfortable for the noted activist investor, who has campaigned vigorously for years to persuade the investment community that the nutrition-products distributor is operating a pyramid scheme. S3 estimates that Ackman has not made much effort to cover his short position in the stock. Short sellers take a view on a stock that it will fall in price. They then borrow the shares for a
- BusinessMarketWatch•48 minutes ago
Oil prices slide as confusion over Libyan production reigns
Oil prices dropped on Wednesday, as investors assessed mixed messages about Libya’s oil supply and waited for weekly data on U.S. oil production. On the New York Mercantile Exchange, West Texas Intermediate oil for October CLV7, -0.25% lost 13 cents, or 0.3%, to $47.71 a barrel. Brent crude, the global benchmark, LCOV7, -0.42% gave up 22 cents, or 0.4%, to $51.66 a barrel. The pullback comes after an upbeat session on Tuesday, which was buoyed by expectations that weekly supply numbers would show a tightening in the U.S. oil market. The report from the American Petroleum Institute, which came out after oil settled on Tuesday, showed crude inventories declined by 3.6 million barrels during the
- BusinessBloomberg•1 hour ago
Pictet Sees Middle East Wealth-Fund Revival as Oil Price Holds
Pictet Asset Management SA said Middle Eastern sovereign wealth funds are starting to revive investment plans as a slump in oil prices comes to an end. Investments by sovereign wealth funds in the region should start to increase later this year or early 2018, said Jamal Al-Naif, the head of Pictet Asset Management for the Middle East, Africa and Central Asia. The number of inquiries about new investment mandates has “increased substantially,” he said. Sovereign wealth funds had been making redemptions from fund managers “all the way up to the end of 2016 and to a lesser degree early 2017,” Al-Naif said in an interview in Dubai. “As oil prices have stabilized and the adjustments have been made
