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Bill Ackman: I was approached to buy Carl Icahn's Herbalife stake

Yahoo Finance


Stocks (^DJI, ^GSPC, ^IXIC) are rallying at midday after Janet Yellen’s Jackson Hole speech, with health care (XLV) leading the way up, and utilities (XLF) in the rear, but still in the green. Keith Bliss of Cuttone & Co. joins us live from the New York Stock Exchange.

To discuss the other big stories of the day, Justine Underhill is joined by Yahoo Finance Editor-in-Chief Andy Serwer and Thomson Reuters markets reporter Dion Rabouin.

Bill Ackman says Carl Icahn wants to sell Herbalife stake
First up is the latest bizarre twist in the battle between two billionaires over Herbalife. Shares of the nutrition company are falling today, now down about 4.5% with hedge fund manager and Herbalife foe Bill Ackman telling CNBC today that he was offered Herbalife shares by an investment bank trying to unload some of Carl Ichan’s stake. Ichan and Ackman have waged a huge fight over Herbalife. Ackman has called the company a Pyramid scheme and continues to short the stock. Icahn, meanwhile has been the company’s biggest defender and owns an 18% stake.

Cord ‘havers’ more satisfied than cord cutters: study
There may still be hope for cable companies in the age of streaming video and cord-cutters. A new study from JD Power says the most satisfied customers have cable or satellite service in addition to subscriptions to streaming services like Netflix. One possible reason: Some cord-cutters might be frustrated when they find out their streaming services don’t air TV shows they like.

What you like falls on party lines: WSJ
Is there anything Facebook doesn’t know? The Wall Street Journal, using publicly available information on Facebook, is showing the entertainment and intellectual preferences of Clinton and Trump supporters. If a user “likes” Clinton for instance but not Trump, the user’s other “likes” are analyzed. After combing through some 13 million accounts. Here are the results…