Midday Report: Icahn Ups Stake in Herbalife; U.S. Stocks Mixed Ahead of Fed Meeting

Stocks hold mixed ahead of the Federal Reserve's meeting later this week.

Author:: Keris Alison Lahiff
Publish date:: Mar 13, 2017 11:48 AM EDT

Stocks held mixed ahead of the Federal Reserve's meeting later this week. A rate hike at that meeting is widely anticipated, though any indication of the pace for the rest of the year could move markets. An announcement is set for Wednesday afternoon. Herbalife (HLF) - Get Report shares rose after billionaire investor Carl Icahn disclosed a higher stake in the nutrition and health company. Icahn purchased just over $19 million worth of stock, putting his stake at 24.6%. Boeing (BA) - Get Report declined after being downgraded to EQUAL WEIGHT from OVERWEIGHT at Morgan Stanley. Analysts said the move was a valuation call based on its recent strength over the past few months. Morgan Stanley also reiterated its bullish case for Wynn Resorts (WYNN) - Get Report . The firm said it anticipates high-single-digit growth in Macau gaming revenue going forward.