Herbalife Ltd. rose the most in more than four months, signaling that Carl Icahn’s prediction that rival hedge-fund manager Bill Ackman would become the victim of the “mother of all short squeezes” may be coming true.
Herbalife Ltd., the nutrition company at the center of a battle between hedge-fund managers Bill Ackman and Carl Icahn, raised its 2013 earnings forecast as first-quarter profit topped analysts’ estimates.
Hostess Brands Inc., the bankrupt baker of Twinkies and Wonder bread, may attract bids for its brands from rival Flowers Foods Inc. and private equity firm C. Dean Metropoulos & Co. in a liquidation the company estimates will take about a year.
Ralcorp Holdings Inc. , the St. Louis-based producer of Post cereals, agreed to buy American Italian Pasta Co. for about $1.2 billion in cash, to gain control of the biggest maker of dry pasta in North America.
Smithfield Foods Inc., the world’s largest hog producer, jumped the most in more than two years after reporting better-than-estimated fiscal third-quarter earnings and forecasting growth at its U.S. packaged-meat unit.