Bill Ackman takes a hit from Herbalife short as stock soars

Bill Ackman found himself cornered and squeezed on Friday as shares of Herbalife soared to a nearly three-year high. The maker of nutritional shakes jumped 11.2 percent, to $75.25, after it revealed its recent offer to repurchase up to $600 million of outstanding shares was under-subscribed. The lack of interest in the $68-a-share tender could...