Herbalife Attempts To Stabilize After Issuing Lower Guidance

Herbalife Ltd. HLF shares are trading lower by $1.35 at $51.79 in Friday's session. As a result of lower than expected net sales, the company lowered FY 2017 EPS guidance to the $4.20-$4.60 range, down from previous estimates of $4.68.

After a lower open, it immediately bottomed at $51.00 and rallied to $52.34 by 9:36 a.m. ET. It did return to retest that low, but has now rebounded once again into the upper $51.00 handle.

Today's price action is taking place on much heavier than average volume. So far, over 2 million shares have traded compared to its 20-day average of only 1.1 million.