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Shares of Books-A-Million, Inc. (NASDAQ:BAMM) lost a fifth of their value, following word that Chairman Clyde Anderson and his family are abandoning their offer to buy out the company. The proposed acquisition brought seven separate lawsuits against the Anderson family.
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One-half percenters? The six heirs to the Wal-Mart Stores, Inc. (NYSE:WMT) fortune are as wealthy as the bottom 41.5 percent of American families combined, says analysis from the Economic Policy Institute. The Waltons’ shares are also trending higher, with Wal-Mart on a resilient 22 percent year-to-date run.
All the spending by The Coca-Cola Company (NYSE:KO) and McDonald’s Corporation (NYSE:MCD) for the right to be sponsors of the London Summer Olympics has come to nought, as the companies are now waiving their right to tax-free earnings at the Games. For obvious reasons, the companies have been sharply criticized by various healthier foods enthusiast groups, and are reluctantly giving in to the protests.
Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU) lose more than a third of their value, subsequent to Goldman Sachs suspending its rating because of a previously-announced Securities and Exchange Commission inquiry. At the same time, Muddy Water looks into short-selling on the financials of the Group.
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