$C is out with earnings this morning and the stock is up about 3.3%, which is slightly greater than the options implied move. The stock closed at 45.65 on Friday and is currently trading around 47.35 in the pre. It hit a low of 45.40 and ripped up to 47 when earnings were released. Here's what MW had to say:
Shares of Citigroup Inc. C +3.77% jumped nearly 4%. Adjusted per-share earnings for the first quarter came in at $1.30 on total net revenue that fell 1% to $20.1 billion, the bank said Monday, beating expectations.
$HLF literally grenaded Friday afternoon after news broke that the FBI had initiated an investigation into the company. The stock was trading around 60 at 1445hrs then dropped to 51 by Friday's close. It's currently trading around 53 on thin volume in the pre. From MW:
Herbalife HLF +3.05% shares are likely to remain in the spotlight on Monday following reports that the company is under investigation by the Federal Bureau of Investigation and the Department of Justice on the heels of a separate probe by the Federal Trade Commission.
Hedge fund manager Bill Ackman had accused the company of being a pyramid scheme in late 2012 and took a huge short position, betting that Herbalife’s stock price will drop. Ackman’s call attracted the attention of billionaire Carl Icahn who publicly feuded with Ackman, using Herbalife as a proxy.
Shares of Herbalife closed down 14% on Friday but bounced back in after-hours trading to rise 1.7%.