Sources: VF Selling Sports Group To Fanatics Angels P Talks Committing Future Earnings To Fantex MJ's Son Partners With Tech Startup WaitTime LeBron Not Worried About Nike Q3 Results Nike Posts Solid Q3 Amid Adidas Resurgence GoPro To Cut 270 Full-Time Jobs Nike Remains Top Provider For Tourney Teams Michigan Gets Regular Jordan Jerseys Back UNC Football's Move To Jordan Could Pay Off Dodgers Owner Leads $100M DraftKings Investment
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).