-
Cheers and jeers for Walmart at 50
Walmart observed its 50th anniversary in fine fashion this week as its share price hit an all-time high, even as the company faced familiar charges from vocal critics.
Walmart shares closed Tuesday at an all time high of $70.75, nearly 18% above the $59.97 level where they began the year and more than 46% above the 52-week low price of $48.31 seen late last summer. The move is nothing short of remarkable considering an investment in Walmart was dead money for the past dozen years as shares traded for a little more than $69 back in December 1999.
-
Report: No buyout offer by Best Buy founder coming soon
New York -- Best Buy’s founder and former chairman Richard Schulze is not expected to present a buyout or other proposal to the company's board anytime soon, Reuters reported, citing a person familiar to the situation.
Schulze owns more than 20% of the company’s shares. He abruptly resigned from the Best Buy board last June and said he was exploring options for his ownership stake. The company’s shares have risen lately on speculation that Schulze close to presenting a buyout offer.