The company said it expects earnings of $3.25 to $3.45 a share for the year ending in December 2012, below the current average estimate of analysts polled by Thomson Reuters for a profit of $3.55 a share.
Herbalife also gave a below-consensus forecast for the current fourth quarter, projecting earnings of 68 to 72 cents a share for the December-ending period. Wall Street's current consensus estimate is for a profit of 74 cents a share.
The stock was last quoted at $61.30, down 1.7%, on volume of around 250,000, according to Nasdaq.com.Year-to-date, Herbalife has been a standout performer, rising more than 70%, and the shares hit a new 52-week high of $63.40 during Monday's session.
AllstateShares of insurance giant Allstate (ALL) gained nearly 4% to $27.32 on volume of less than 200,000 after the company beat Wall Street's profit expectations despite a spike in catastrophe losses related to Hurricane Irene and Tropical Storm Lee. The company reported an operating profit of $84 million, or 16 cents a share, for the September-ended quarter, down from a year-ago equivalent profit of $452 million, or 83 cents a share, but ahead of the average analysts' estimate of 8 cents a share. ""Maintaining auto insurance profitability and proactively managing our investment portfolio enabled us to overcome an increase of $691 million in catastrophe losses from the third quarter of 2010 and still earn a profit," said Thomas Wilson, the company's president, CEO and chairman, in a statement. "Progress was made in improving auto insurance profitability in New York and Florida and raising underlying returns in homeowners insurance." Year-to-date, Allstate shares have lost nearly 11%, and Wall Street was mildly bearish on the stock ahead of the report with 14 of the 24 analysts covering the stock at either hold (13) or underperform (1).
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