LeBron Banner Could Go Back Up On Building Wasserman Receives $100M Investment Nike-Under Armour Rivalry Growing EA Drops Ray Rice From Madden Game Numerous Retailers Pulling Ray Rice Gear Bowling Green Signs Apparel Deal With Nike New York State OKs Lawsuit Against RBS Stats LLC Buys Bloomberg Sports FanDuel Closes $70M Round Of Venture Capital Nike Likely Will Lose Money On New KD Deal
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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).