Manchester United Set To Ink $1B Nike Pact Manziel Signs Multiyear Deal With Nike Nike's Parker Talks Innovation, Competition Terms Of Penn State's Nike Deal Remain Secret U.S. Soccer Reveals World Cup Jerseys Wichita State Gets Better Nike Deal Moody's Gives WME IMG B2 Credit Rating Nike Sponsored Every Olympic Hockey Team CDI Net Income Drops 5% In '13 Nike At Center Of Latest USATF Controversy
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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).