(Reuters) - Herbalife Ltd (HLF) estimated fourth-quarter profit and sales above market forecasts, dealing a setback to investor William Ackman who has accused the nutrition and weight loss company of being a pyramid scheme and taken a big short position on the stock. Herbalife shares rose as much as 6 percent in early trading on Monday after the company also said it had increased its share repurchase program by $500 million to $1.5 billion. " ... Ultimately it's strong recruiting momentum around the world ... (that) is really driving the core results," said Wedbush Securities analyst Rommel Dionisio, adding that the results showed the strength of Herbalife's business model. The activist investor said in November that his hedge fund, Pershing Square Capital Management, had lost between $400 million and $500 million on its bet against Herbalife.
via Business News - Yahoo Finance http://ift.tt/1fROAEK
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