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 date, but has climbed about 10-bucks a share since mid-February.
Now we look at Sina (SINA). Shares jumped more than 9% yesterday. Sina owns a microblogging service in China that's similar to twitter. The stock jumped on the news that Alibaba has taken an 18% stake in the company. Prior to the spike, shares of Sina had been down for the year. Now investors are about 5% in the green.
Finally, there's networking company Riverbed Technology (RVBD) which has been sinking to the bottom since yesterday's closing bell. Riverbed disappointed with its quarterly earnings, posting 23-cents a share when consensus was for 24-cents. But the bigger problem may be that the company is lowering guidance for the current quarter. This morning's moves put the stock near its 52-week low which it hit back in July.