Consumer Biz Cheat Sheet: Wal-Mart Execs Depart, Apollo Dumps 99 Cents
The two top executives in charge of Wal-Mart’s (NYSE:WMT) online business are leaving the company. Their departure follows that of two other online executives who left last month for personal reasons.
Investors dumped 99 Cents Only Stores (NYSE:NDN) shares after DealReporter claimed Apollo Global Management (NASDAQ:APO) may no longer be interested in acquiring the discount retailer. Investors had hoped Apollo would trump a $1.3 billion offer made in March to take 99 Cents private.
Coffee Holding Co. (NASDAQ:JVA) announced a $9.3 million stock offering this morning, which will feature 890,000 shares at a purchase price of $10.40, well below JVA’s $11.82 closing price on Monday, as well as warrants to buy additional shares at $13.50. In a separate offering, the company plans to sell up to 200,000 shares at $9.92 each.