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Herbalife Takes Heavy hit After Reporting Q2 Results


Shares of Herbalife took a hit after the company reported its second quarter results which missed expectations on both the top and bottom line. Herbalife earned $1.55 a share and fell a penny below expectations, but it was a 10% increase from the same a year ago period. Sales of $1.3 billion were $100 million more than the same period last year. Herbalife also raised its fiscal 2014 earnings estimates and expects them to be between $6.17 and $6.32 a share. Shares of Herbalife have been extremely volatile as a result of the actions of activist investor Bill Ackman who has a $1 billion short on Herbalife. Herbalife shares are down 14% for the year. TheStreet's Whalen MacHale reports from New York.