High Volume Stocks: Herbalife, Intel, Citigroup May 3rd
Herbalife Ltd. (NYSE:HLF): On May 2, 2012, Herbalife Ltd. entered into an agreement with Merrill Lynch International to repurchase $427.9M of Herbalife’s common shares. This will complete its current $1B buy back authorization. Under the terms of the repurchase agreement, Herbalife will pay $427.9M on May 4, 2012 from the Company’s cash on hand and from borrowings under the Company’s senior secured revolving credit facility and will receive a portion of the shares on a pre-determined date and the remainder upon completion of the program. The transaction is currently expected to be completed by no later than July 2012.
Intel Corporation (NASDAQ:INTC): Despite the release of Intel’s latest Ivy Bridge processors, retailers have begun to feel more cautious about Q2 performance, with some feeling that consumer demand might stay down until after Q3 because of Windows 8 (NASDAQ:MSFT), according to Digitimes.
Citigroup Inc. (NYSE:C): Regulators are making major progress on a final version of the Volcker Rule, and some officials think that it could be completed as early as this summer, according to The New York Times, which cited unnamed sources. Yesterday the CEOs of six large banks expressed concerns about new regulations like the Volcker Rule during a meeting with a Fed governor, the newspaper added.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.