WME-IMG Acquires eSports Agency Bright Nike Apparel Turns Heads At Aussie Open Nike Breaks Out Bright Colors At Aussie Open Univ. Of Florida Extends Nike Deal Through '24 FanDuel Quadruples Revenue Generated Nike's Coin Toss Ad Goes Viral On Twitter Whistle Sports Closes Latest Round Of Financing Acushnet Could Go Public By '16 WPP Invests $250M Into Bruin Sports Capital Nike Unveils Uniforms For CFP Championship
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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).