Speedway Motorsports' stock jumped "significantly" yesterday
after the company reported "robust" annual and quarterly profits,
according to the FT. WORTH STAR-TELEGRAM. The Bruton Smith-led
racing track operating company, whose holdings included the soon-
to-be-completed Texas Motor Speedway in Ft. Worth and tracks in
Atlanta and Charlotte, reported earnings from continuing
operations of $19.6M, or $1.05/share for the year ending December
31. Those figures are more than double the $7.5M, or $.49/share
reported in '94. Revenues were $75.6M last year, up 16% from
'94. The company said it expects continued growth in '96 with
the addition of Bristol Speedway in TN and the Texas speedway
this summer (Kathryn Hopper, FT. WORTH STAR-TELEGRAM, 2/13).
"Nightly Business Report" reported Speedway was up 3 1/2 on NYSE
after announcing a two-for-one stock split (PBS, 2/12).
NISSAN JOINING IRL? Nissan is "on the verge" of joining
Oldsmobile in supplying engines for the IRL, including the
Indianapolis 500, in '97, according to the INDIANAPOLIS STAR-
NEWS. A U.S. Auto Club source said that Nissan told the USAC
board at its Friday meeting that the auto firm agreed to supply
the racing engines (Dick Mittman, INDIANAPOLIS STAR, 2/10)....In
other news, Holly Cain writes to look for the retail chain Target
to "come on board in the near future" as a sponsor of the U.S.
500, joining Mercedes-Benz, Toyota, Pennzoil and Texaco (TAMPA
TRIBUNE, 2/11).
