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  • FINANCE NOTES

              UBS Securities analyst Ed Hatch lowered his earnings
         estimate for Disney stock from $3.15 to $2.96.  Merrill
         Lynch's Jessica Reif cut her profit forecast from $3.10 to
         $3.  The analysts' "shift" has pushed Disney's stock price
         down $5 since last week.  The stock closed yesterday up $1
         to $109.75.  In N.Y., Phyllis Furman writes, "Despite the
         downgrades, analysts said yesterday that Disney remains one
         of the premier entertainment companies whose earnings should
         grow by at least 16% this year" (N.Y. DAILY NEWS, 6/24).
         ...SportSite.com, an online sporting goods store, has closed
         a $5M financing round with venture capital firms J.H.
         Whitney and Draper Fisher Jurvetson (SportSite.com).
    
    

    Print | Tags: Finance, Walt Disney
  • SCHWINN GOES OFF-ROAD WITH PURCHASE OF GT BICYCLES

              CO-based Schwinn Holdings Corp. announced plans to
         acquire CA-based GT Bicycles in a deal valued at "about"
         $180M.  Schwinn, a privately-owned company, said it will pay
         $8 a share for GT's 10 million shares of outstanding common
         stock, as well as assume $100M of GT's debt.  On Monday, GT
         shares were up $2.375, closing at $7.125 per share on the
         NASDAQ.  GT makes off-road mountain bikes and BMX bikes for
         young adults (DENVER POST, 6/23).  Together, Schwinn and GT
         "will rival Trek as the largest U.S. bike maker to sell
         through independent dealers" (DENVER POST, 6/23).
              
    

    Print | Tags: Finance
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