and business easier done with shrimp than soybeans. let s go to su keenan for headlines. su? herbalife stock is falling in the afterhours trading, down more than 10%. the company posted second-quarter profits that trailed analyst estimates as sales volumes declined. the net income fell 17%. it missed analyst projections. meanwhile, darden restaurants ceo clarence otis will step down as chairman and chief executive officer. otis will continue to serve as ceo until a successor is appointed. last year, darden drew the ire of investors when it proposed selling or spinning off red lobster, a seafood chain which has suffered from declining sales. and zillow has agreed to purchase trulia for $3.5 billion in an all stock deal. and those are the top headlines. back to you. all right, su keenan. thank you very much. herbalife is a stock that bill ackman called a ponzi s scheme. it missed wall street estimates. wall street got that one wrong. the stock is down sharply in after-hours
This is a transcript of the latest episode of Equity, TechCrunch’s venture capital-focused podcast. Listen above or read below to catch up on our Wednesday show, in which we talk through the week’s leading startup and venture capital news. Hello and welcome back to Equity, the TechCrunch podcast where we unpack the numbers and the nuance behind the headlines.