Herbalife Auditor KPMG Resigns After Insider Trading
KPMG resigned as the auditor of Herbalife after one of its senior partners engaged in insider trading in Herbalife stock, the nutritional products company said on Tuesday.
Bill Ackman
Is J.C. Penney CEO Ron Johnson Losing His Biggest Backer?
Bill Ackman, the hedge fund manager who hand-picked Ron Johnson to lead JC Penney, now says the turnaround has been "close to a disaster."
2 State Pension Funds Want More JC Penney Details from Ackman
Two institutional investors with William Ackman's $12 billion hedge fund plan to reach out to the manager to get more information about the firm's big bet on ailing retailer JC Penney, whose stock has dropped 21 percent this year.
Billionaire Bad Boys Get Into a Schoolyard Smackdown on CNBC
Carl Icahn and Bill Ackman, two of the country's richest men, have been engaged in a long-time rumble, most recently over diet pill maker Herbalife. But on Friday, the conflict heated up when Icahn unloaded on Ackman on national TV.
Bill Ackman's Big Bet on the Hong Kong Dollar
Hedge fund manager Bill Ackman made waves in the financial community yesterday by announcing a very bullish bet on the Hong Kong dollar. Currently pegged to its American counterpart, HK's currency would see its value soar if it were attached instead to a more compatible counterpart -- say, the Chinese yuan. Ackman appears to be banking on it, but in a low-risk way.
Dow Rallies on Tech Stocks. Next Stop 12,000?
Stocks closed sharply higher Monday with the Dow Jones posting a triple-digit gain as technology stocks rallied after Intel raised its dividend and expanded its share buybacks by $10 billion. The index last saw 12,000 in June 2008 -- on the way down.
Borders Investor Offers to Finance B&N Buyout
Hedge fund manger Bill Ackman says he will finance a takeover bid for rival bookseller Barnes & Noble at $16 a share -- a 20.5% premium over Friday's closing price. Faced with increased competition, B&N has seen sales plunge in recent quarters.
Top Stock Picks of Six Billionaire Investors
By the time the world's smartest investors tell the SEC what stocks they hold, most of the gains they were after are already priced in. But a few of the companies Warren Buffett, George Soros, and their billionaire buddies have bought into still have a lot further to rise. Which ones? Read on ...
J.C. Penney Shares Surge on Ackman News
Shares of J.C. Penney surged as much as 16% after activist investor Bill Ackman's Pershing Square Capital Management disclosed that it had purchased a 16.5% stake in the struggling retailer.