Nike, USATF Sign 23-Year Extension Illinois Athletics, Nike Unveil New Look App Review: Nike+ Running For iPhone WME Plans To Cut $151M Out Of IMG WME Plans To Cut $151M In Costs Out Of IMG Illinois Set To Unveil Rebrand Results Nike Supporting Athletes In USATF Dispute Nike Still Selling Woods' Masters Garb Hershey, USATF Sign Seven-Year Deal USSF, Nike Debut New Away Kit
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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).