Herbalife Falls After Nu Skin Cuts Outlook, Ackman Renews Attack

Herbalife Posts 2nd Quarter Earnings

Herbalife Ltd. shares tumbled 7.4 percent after one of its peers cut their sales forecast and billionaire investor Bill Ackman renewed his attacks on the nutrition company.

Ackman, who has waged an almost three-year battle against Herbalife, said on Tuesday that he has “lots of new stuff, none I can report.” The investor, who runs Pershing Square Capital Management, spoke at the Bloomberg Markets Most Influential Summit in New York. “Stay tuned,” Ackman said.

Nu Skin Enterprises Inc., which relies on a direct-sales approach, also raised concerns about the industry on Tuesday when it lowered its sales forecast. Nu Skin cited currency headwinds and slower-than-expected sales of cosmetic oils in China.

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