Here are the stories that caught our eye this week.
Herbalife
Carl Icahn and Bill Ackman made headlines again over Herbalife Ltd. (NYSE:HLF).
According to reports in the Wall Street Journal, billionaire investor Carl Icahn offered to sell his stake in the company to a group of investors headed by Bill Ackman, who has been persistent short seller of shares. Herbalife sank in pre-market trading on the news, down about 6%.
After trading finished for the day a very different story emerged. It turns out Icahn was a buyer, picking up more than 2.3 million shares on the dip. He now owns 20.8% of the company.
Elon Musk
Tesla Motors (NASDAQ:TSLA) got permission from regulators to move ahead on its proposed takeover of Solarcity Corp (NASDAQ:SCTY) this week. The next step is preparing the documents for shareholders to vote.
Tesla also announced the release of a new Model S car, which now has a bigger battery. The newly upgraded model can go from 0 to 60 miles per hour in 2.5 seconds and can go 315 miles without needing a charge.
Gamestop
Struggles at Gamestop Corp (NYSE:GME) continued this week, with the troubled video game retailer reporting an 11% plunge in same store sales. Shares fell more than 10% on the day, closing at $28.74, close to a 52-week low. Guidance was better for the rest of the year, however.
Gamestop pays a 5.2% dividend and trades at just 7.7 times trailing earnings, but investors are concerned the future of physical media is dire.
