Hope Solo Re-Emerges In Nike Marketing UGA's New Nike Deal Worth $40.8M Adidas, Nike Bid On Michigan Apparel Deal Gametime Closes On $13.3M VC Funding Tribune Media Bullish On MLB Ratings Morgan Stanley Offers Loans To NFL Draftees Obama To Speak On Trade At Nike HQ CBS Quarterly Profits Up, But Revenue Down Puma's Profits Fall 30% In Q1 Wake Forest Unveils Nike-Designed Football Uniforms
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Published November 25, 1997
CNN's Lou Dobbs reported that Nike fell yesterday 2 1/8 to 48 3/4. Dobbs added that Donaldson, Lufkin and Jenrette trimmed Nike's earning estimates, expecting international sales to fall rapidly" ("Moneyline," CNN, 11/24)....PCH Investments, owners of L.A. Gear, said that the CA-based company "will default" on a November 30 payment "on certain notes, and added that it hasn't paid cash dividends on its preferred stock." The stock closed down $0.0625 to $0.625 (WALL STREET JOURNAL, 11/25). CNBC's Terry Keenan: "Another sign ... that L.A. Gear may be in a lot of financial difficulty. The retailer of athletic footwear says that it has, quote, insufficient resources, to pay interest on some of its outstanding debt" ("Market Wrap," CNBC, 11/24).