Tennessee Unveils New Nike Uniforms Nike's Phil Knight Stepping Down In '16 Cuban Among Group Raising Funds For Unikrn Tennessee Ready For Nike Transition Nike Sees Sales Rise 4.8% In Q4 Sources: MLBAM Eyes IPO For Non-Baseball Division Adidas Releases Wiggins' First Shoe VenueNext Gets $9M In New Financing Cavs, Nike Take Out Full-Page Ads Under Armour's Stock Split Plan Criticized
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).